Deal to Limit College Loan Interest Rates is Limited
Julianne Malveaux | 7/5/2012, 2:48 p.m.
If these increased costs push some students into deferring education, our nation is, in the long run, a loser. If some decide that a BA degree is enough, even though they were headed toward that science Ph.D., then we are all losers. This Congress has chosen to be extremely shortsighted, and to wrap their limited vision in incendiary rhetoric about budget balancing. I don't blame this Congress. They have been empowered to behave poorly. I blame those voters who have selected these people as leaders.
The misplaced priorities of this Congress are most clear when we look at their preoccupation with finding Attorney General Eric Holder in contempt of Congress. Our nation is worried about jobs, but Congress is mistakenly worried about wringing nonexistent or privileged documents from a civil servant whose leader has declared executive privilege. Congressman John Boehner [R-Ohio] and his cronies are making a point that they do not believe President Obama deserves executive privilege.
What do our nation's college students deserve? They need more than balanced budget rhetoric. They need access to low-interest loans, as well as a suspension of payments while they are looking for work. They need the appreciation and respect of the lawmakers who are too busy chasing their tails to stop and shake the hands of deserving students.
Julianne Malveaux is a Washington, D.C.-based economist and writer. She is President Emerita of Bennett College for Women in Greensboro, N.C.