Student loan agreement reached between Senate and Congress

By Kelly J Newson

The Senate and Congress have been going back and fourth trying to reach a deal in not allowing student loans to double come July 1, 2012. The deal will cost $6 billion and will be paid for by curbing companies’ tax breaks for pension payments and limiting federal subsidies of student loans. This deal will affect new loans starting July 1. Now an estimated 7.4 million students can have some peace of mind that their student loans will not be doubling when July 1, 2012 rolls around.

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One Response to "Student loan agreement reached between Senate and Congress"

  1. Dorothy777   June 29, 2012 at 4:20 pm

    I wish Congress would deal with the problems that have occurred as a result of forcing parents to co-sign their children’s student loans. Back when I was a kid, unless I lived with my parents, they had no financial responsibility to pay for my education. But today’s parents are expected to support their kids literally into their graves. The kids can’t get student loans without the parent’s co-signing because they have no credit yet. But students applying for student loans have never had any credit, so that argument is completely bogus.

    I have several clients in their late 50s, early 60s that are responsible for hundreds of thousands of dollars of student loans co-signed for their unemployed kids. There goes any hope of retirement!

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