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Article: Student loans; Don't add to interest burden.(NEWS)(Editorial)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- June 21, 2004
CopyrightCOPYRIGHT 2004 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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If a college education hasn't already turned this year's grads into cynics, Congress is considering a proposal that should do the trick: Just as student loan interest rates hit an all-time low, key lawmakers want to deny new graduates the opportunity to lock in today's low rates through loan consolidation.
Instead, leading Republicans and a few Democrats on the House Committee on Education and the Workforce propose that federally guaranteed student loans be consolidated only on a variable-rate basis.
With interest rates expected to begin climbing back into their historic range soon, variable-rate consolidation most likely would mean higher cost for ...