mhs95_06;1261615 wrote:From Mrs. Obama's speech:
"When it comes to giving our kids the education they deserve, Barack knows that like me and like so many of you, he never could’ve attended college without financial aid.
And believe it or not, when we were first married, our combined monthly student loan bills were actually higher than our mortgage.
We were so young, so in love, and so in debt.
That’s why Barack has fought so hard to increase student aid and keep interest rates down, because he wants every young person to fulfill their promise and be able to attend college without a mountain of debt."
Isn't the size of the debt(mountain - the amount owed) un-related to the interest rates? Do the democrats understand economics?
Let's see... I go to college and have $50,000 in student loan debt. I could be wrong, but if my interest rate is 7% I would expect to pay a lower amount per month than if it were 14%.
No one is arguing that college is expensive, but compounding the problem with higher interest rates makes it more expensive.