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Government Student Loans

Updated on June 2, 2010

2010 UPDATE

This all passed and now will become law sometime in 2014. There will be court challenges to this bill as the private lenders will be losing a lot of business and they will try to protect their interests. If they don't win though, we will see changes to the way students get loans in 2014. An interesting question is why both the health care bill and student loans bills don't become law sooner. By 2014, President Obama may not even be president anymore!

College Tuition Is Out Of Control

It costs so much to go to college in 2009 that it makes one wonder if it is worth the price. If you complete a 4 year college and end up in debt between $40,000 and $100,000, how is the normal student ever going to repay those loans?

Some professions will allow you to make enough to perhaps pay off the loans. Doctors and lawyers for instance, will probably be able to do it. But what about the rest of us?

A Change Might Be Coming

One of the problems whith the loans is the interest rates students are charged. Private companies have to make money on the loans and the kids lose out. President Obama wants to change all that so that student loans come from the government and not the private sector. Obama student loans would all be at a lower rate than the private companies want to charge. This would allow the students to pay them off more easily.

Socialism Is On The Way

People voted for Barack Obama for many reasons but one of them was that they wanted him to distrubute money. As a case in point, many people still search for Obama government grants as though he is giving out money that previous Presidents didn't. Is it a good thing to give the government this much control. Obama wants to have the government in charge of health car, the car industry, the banking industry, and probably every industry he can get involved in. Why are the people letting him do this?

Is it a good thing to take private companies out of the student loan business?

See results

Is College Really Worth It?

Even if the interest rates go down on student loans because of the government, the question still remains of whether college is really worth it. The price of college is not going to go down and spending that much money for a degree that many kids will never really use might be a big waste of time and money. Of course it is always better to get a degree than not get one. But at what price is the degree not worth it. You can get a wide array of jobs withough a college degree or with just a 2 year degree and then work your way up. There are many ways to make money without a college degree. Starting out in debt the way many students are today is not good for them or their mental outlook. It can have an impact on their lives for many years to come. I would say that for many students, although a college degree is preferable, it is not really necessary. What do you think?

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