Political Issues On Student Loans

Good Essays
Jieying Bai
Professor Nguyen
Political Science 1
October 25, 2014

Political issues on Student Loans As a student who has difficulties affording increasingly high tuition in college, financial aid and student loans is one of the biggest concerns for me. Even though with a low-interest rate of student loans, it is still hard to pay back the debt after graduation. As in recent years, the cost of universities in America has rose to such a level that it has exceeded the rate of inflation. (Walker) According to CNBC, America has more than $1.2 trillion of student loan debt, what’s more, about 10 million federal student loans are taken out annually. (Orman) Face on such a huge threat to the economy, in the meanwhile, recently there are some debates happening that has influenced the interest rate of student loans. During recent years, the American government has been in charge of lots of programs designed to assist students, such as providing student loans. In the United States, there are two kinds of student loans. One is federal student loans and the other one is called Private Loan. Federal Student loans also have three different types, which are Stafford Loans, PLUS Loans and Perkins Loans. By giving student loans, students will have the money they
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