A promising sign
According to Robert Shireman, the Department of Education is instituting a new program next month which offers relief to those with federal student loans. Even those who are no longer in school can take advantage of new, lower interest rates. Keep your eyes peeled for information about this program and pass it on to the students (and former students) you know. Unfortunately, those suffering under the yoke of private lenders will find no salvation there. The private loan interest rate for USSA president Carmen Berkley, for example, is a horrendous 19%.
One student semi-facetiously suggested student loan forgiveness as one easy way to stimulate the economy. He claimed that he would happily spend money currently set aside for loan repayment to buy all sorts of consumer goods. As the corporate bail-out beneficiaries cart away piles of tax dollars, this suggestion does have merit. At least, in the case of student loans, our entire economy would benefit. We need to view students as an investment in our future and not merely as a commodity to exploit. Doing otherwise will only hasten our decline.
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link to first article in series Notes from America's Future NOW Conference
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