Students to feel pinch in debt deal

[BDBoop]

Debt ceiling deal to hit grad students hard - Aug. 1, 2011

WASHINGTON (CNNMoney) -- Some students will start owing more on their loans while they're in school under a last-minute debt ceiling deal to keep the country out of default and reduce deficits by at least $2.1 trillion over a decade.

As part of the savings to trim the deficits, Congress would scrap a special kind of federal loan for graduate students. So-called subsidized student loans don't charge students any interest on the principal of student loans until six months after students graduated.

Congress would also nix a special credit for all students who make 12 months of on-time loan payments.

The changes would take place July 1, 2012.

Well, that's just spiffy.

 

[editec]

As we have had a near continuous war on education for decades now, this does not surprise me one bit.

 

[Two Thumbs]

so people will have to pay for thier education.

You can thank the high cost of education on all the free money from the goverment.

 

[BDBoop]

As we have had a near continuous war on education for decades now, this does not surprise me one bit.

Nope. America is on a fast track to being 'just another country'. Not a super power, and certainly no longer the best place on the planet to live.

 

[Bones]

As we have had a near continuous war on education for decades now, this does not surprise me one bit.

Nope. America is on a fast track to being 'just another country'. Not a super power, and certainly no longer the best place on the planet to live.

We're already there.

 

[Oddball]

As we have had a near continuous war on education for decades now, this does not surprise me one bit.

Yeah...Ever since the creation of the Department of Edumacation, at least.