I am fairly well off and had saved sufficiently to pay for two years of out-of-state college for my son. He had to use student loans to finance the remaining two years, using a combination of government-assisted loans and private loans with deceptive names like Sallie Mae and interest-only payments at 11 percent. He graduated this year with a debt burden of about $50,000 in a sluggish (some would say dead) economy.
Congress should not raise the rates on Stafford loans, but rather alleviate student debt and help our kids grasp the American Dream — for all of us!
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