That my student loans are all federally backed and thus have tightly fixed interest rates…
Protesters’ new front
Americans have finally awakened to the decades-long corruption of higher education
http://www.salon.com/2012/04/23/protesters_furious_new_front/
I am very familiar with the inability to bankrupt student loans and with the capitalization of interest when unable to pay. As with others, my student loan payoff has been greater than the amount I have borrowed a number of times, but unlike so many discussed in the article, the interest rate charged was quite low, generally well under 10%, often under 6% (it is currently under 4%). I have talked on the subject before and don’t want to repeat a lot of that. Clearly I was in at the beginning of the transformation of our educational system from something that society supported to maximize society’s future to something the 1% could profit from. The article does a very good job of describing the actors in that drama, I encourage you to read it. The astronomical cost of education (and of course, the crappy education thus received) should be a subject everyone can agree needs addressing, but in our idiotic polarized political environment, that ain’t gonna happen any time soon.
