According the Wall Street Journal, “Senate leaders said Tuesday they had reached a tentative deal to keep most student-loan interest rates at 3.4% for another year, preventing the rates from doubling on Sunday and potentially resolving a contentious election-year issue.” Presidential politics again rules the day, but of course anything can happen, and sooner or later the interest rate subsidy will again be on the table for debate.
As many of you may know, the U.S. government borrows from Peter to pay Paul, if you will, to fund its expenditures, and has been doing so for sometime leading to a overall debt that cannot be sustained. Eventually, it will be time to pay the piper and some constituency will have to lose, as the government, will have to cut spending, so it can again live within its means. As mentioned in our earlier post one should take heed and plan accordingly for any and all possibilities related to one’s student debt, if indeed this is your plight.
