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The Obama Student Loan Bill...

The price of getting a college degree may be quickly getting so high that it could be worth contemplating not going at all. Students now days are graduating with debt anywhere from $10,000 all the way past $100,000 and at these amounts, it might be impossible to pay back.

College used to be a place where you went to further your education, figured out what you wanted to do in life, and had some fun while you we're doing it. Now it seems college can be more of a grind than it is fun and most students need jobs just to think about getting by. The economy is so bad right now that young college age students are really in a bind.

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The Obama student loan bill was signed this week and the hope is that it's going to decrease the interest rates which can be charged and make student loans easier to repay. However, the bill won't take effect until 2014 and for that matter, what does the federal government do anyway that's ever successful?

With the government taking over student loans, it means banks and all the private institutions are no longer involved in the decision making process. Isn't anyone worried that the government is not the right entity to decide who gets loans and who doesn't? Do we really need more government control of our lives?

Younger adults currently are under tremendous strain to do well in school while at the same time holding down a job just to pay for it. Many mothers and fathers in the past might have been in a position to pay for at least a big chunk of their youngsters's schooling but now that may not be the case anymore. Costs just add up too quick and more students than ever are graduating heavily in debt.

President Obama has done nothing to try to lower the cost of college or at least keep it the same. State colleges are now extremely expensive just like private ones are because the state governments need the money. There is really no viable option for students who can't afford the high prices and may not be able to get a job either.

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Posted in Law Post Date 08/02/2017


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