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VIEWPOINT: Interest rates on new federal student loans have doubled from 3.4 percent to 6.8 percent, will Congress come together to find a quick solution?

WI Staff | 7/11/2013, 10:07 a.m.

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Ariel Rayman Washington, D.C. - With tuition rates climbing, Congress should restore the interest rates on federal Stafford loans to 3.4 percent and cap variable student loan interest rates to a lower level. Congress has the responsibility to ensure that disadvantaged students can afford to go to school and upon graduation, afford to live a productive life while not being hampered by student loan debt. The objective of federal student loans is to financially aid students not to fill government coffers at the individual student’s expense.

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Brent Lawrence Washington, D.C. - I feel the government is looking for an additional source of income. Unfortunately, those who will be hurt most by the new interest rates are the ones who most need the money. Attending an out-of-state, or private school, will become nearly impossible due to the high interest rates. Unfortunately, not all schools are equal and we will soon see a rise in inequities, the marginalization of groups of people and the rise of elitist cities and states.

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Sean Hoggard Washington, D.C. - This is ridiculous. At this rate, college graduates will be paying off their student loan debts until the day they die. It’s as if the Republicans in office want to keep the poor poor, and that’s such a shame. College graduates work extremely hard to [earn] their degrees, but yet it feels as if politicians make it difficult for us to find a job so that we can pay off our student loans.

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Tommy Taylor Washington, D.C. - I think Congress should actually put the needs of the people first for once. It's about time they serve the best interest of American citizens instead of [their own] interest. Education should be a priority, especially as we fall behind other countries in math and science. If anything we should be making education more affordable and keep our citizens out of long-term debt.

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Verris H. Turpin Washington, D.C. - Both parties in Congress need to come together and find a long-term solution regarding the issue of raising interest rates on new student loans. Those most affected by the student loan interest rates are those of us who are least likely to be able to pay the extra money. Not only does Congress need to resolve this issue, it also must find a way to make college more affordable, so that anyone who wants to pursue a higher education can, without fear of being weighed down by crushing debt.