Gee, wonder why?
They learned from their deadbeat parents who signed up for home loans only cry foul later and expect handouts.
Who says you have to pay debts you sign in your name?
-Geaux
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Snowflakes looking to take out massive student loans for next year to fund the $50,000 price tag of their liberal bastion of choice, and maybe the occasional binge-drinking trip to Cancun for Spring Break, are about to get a little price hike. But, don't worry, you won't have to start paying on those loans for at least 4 years.
Beginning in July, interest rates on new federal student loans are set to rise by 0.69%, per data published by the Treasury, which would drive the interest cost of new undergraduate loans up to 4.45% from 3.76% for the academic year ending in June, a nearly 20% increase off an historically low base. Meanwhile, rates on some graduate loans are set to rise from 5.31% to 6% and rates on loans to parents and guardians are due to jump from 6.31% to 7%. As an example, the cost of a $10,000 loan would increase by about $400, according to an online calculator maintained by Bankrate.com.
Of course, these higher borrowing costs shouldn't be that big of a deal as some 44 million Americans only owe $1.4 trillion on their student loans, or a modest average of only $32,000 per borrower.
Student Loans Just Got A Lot More Expensive For Our Snowflakes | Zero Hedge
They learned from their deadbeat parents who signed up for home loans only cry foul later and expect handouts.
Who says you have to pay debts you sign in your name?
-Geaux
------------
Snowflakes looking to take out massive student loans for next year to fund the $50,000 price tag of their liberal bastion of choice, and maybe the occasional binge-drinking trip to Cancun for Spring Break, are about to get a little price hike. But, don't worry, you won't have to start paying on those loans for at least 4 years.
Beginning in July, interest rates on new federal student loans are set to rise by 0.69%, per data published by the Treasury, which would drive the interest cost of new undergraduate loans up to 4.45% from 3.76% for the academic year ending in June, a nearly 20% increase off an historically low base. Meanwhile, rates on some graduate loans are set to rise from 5.31% to 6% and rates on loans to parents and guardians are due to jump from 6.31% to 7%. As an example, the cost of a $10,000 loan would increase by about $400, according to an online calculator maintained by Bankrate.com.
Of course, these higher borrowing costs shouldn't be that big of a deal as some 44 million Americans only owe $1.4 trillion on their student loans, or a modest average of only $32,000 per borrower.
Student Loans Just Got A Lot More Expensive For Our Snowflakes | Zero Hedge