Student Loan Interest
Mon July 22, 2013
New York Student Groups Dissatisfied with Student Loan Deal
Students have received help with their school loans. But New York student organizations aren’t sure if it’s the greatest agreement.
Last week congress made a deal that will reverse the threat of student loan rates doubling, which could have added thousands of repayment cost for some students. Even though congress just helped a lot of students SUNY Student Assembly spokesperson Logan Kenney explains what this deal really is…
“It’s a short term fix, so right now it’s going to appear better, but as the years go on its going to increase anyway. So it looks like their trying to make a short term solution that’s going to make people happy in the now and not look towards the future.”
Kenney goes on to say that she believes that there will be a similar battle over loan rates in the future. Even though the threat is over, some students have certain feelings about congress and its actions. Kenney is skeptical about whether lawmakers were really trying to help.
“Students feel like congress is spending their time going back and forth fighting. And were not sure if it’s the students the common goal in the end or whatever else can keep them from making it easier on their future leaders to go to college and graduate.”
Kenney says they are starting to spread the message and that hopefully college presidents will be able to talk with students about the loan rates. The Congressional agreement means loan rates would go up slightly, to about 3.8 percent next year, then be tied to treasury note interest rates after that.