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Utah students would lose $93M of savings if loan rates double

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  • DN Subscriber Cottonwood Heights, UT
    April 23, 2012 6:32 p.m.

    Translation: "Students to benefit less from welfare."

    There are no "free lunches!"

    Someone pays to subsidize the artificially low interest rates being charged on student loans. That means taxpayers like you and me now, and if/when these "students" ever finish school and get jobs, they will be paying for it too.

    That would be "good news" if it were just a matter of current revenues covering the give-aways. However, most of what we are spending now is borrowed from the Chinese, and will eventually be repaid, with lots of interest.

    Frankly, getting a bit less of a break on student loans should not be getting these kids outraged. The fact that they will be taxed into poverty for the rest of their lives paying for ALL of the "freebies" the government is giving out should have them outraged.

    And determined to throw out the rascally politicians who are doing this to them.

    College costs are way too high, too many kids go who should not go, and they waste too much time on junk courses. College was, and should be, a "pay as you go" option, not the first stop en route to the government welfare plantation.

  • ManInTheMiddle SANDY, UT
    April 23, 2012 9:44 p.m.

    What a puff piece for these students. Why should I subsidize their loans?

  • My2Cents Taylorsville, UT
    April 24, 2012 5:24 a.m.

    How can you lose what you don't have? These student don't have any money in a savings plan so how will it make them lose money? They will lose subsidized funding but they won't lose anything but welfare. What the president is doing with subsidizeing the economy and the cost of education has done more harm in excessive cost.

    If the government would stop subsidizing education and health care with inflated spending of falsified claims by schools and education it will drive down the cost of education and health care to levels they can afford even at higher interest rates. They would borrow less to get more so the saving will be in with lower cost loans. If schools need the students they will lower costs and become competitive with each other to get the students. Right now without any competition government pays them not to compete for students.

    Competition regulates costs, government subsidies escalates costs by the law of greed.

    The only reason that govenrment is wasting so much money on higher education, it keeps a large population of the workers out of the job market and keeps unemployment numbers artificial.