As many people are, students are struggling in this economy trying to pay back the student loans they accrued during their education. While there may be many flaws in this system there is one thing that's putting unwarranted pressure on the ability of people to repay that debt; interest rates.
Current rates on unsubsidized student loans, graduate loans, professional loans, and PLUS loans are 6.8% to 7.9% while the market's 10 year rate is below 2% and the 30 year rate is around 3%. Rates that high only aid in increasing the rate of defaults. We need the option of variable rates returned to federal student loans or at least the ability to refinance at a lower fixed rate. We talk about fixing our education system all of the time, yet we penalize our citizens for obtaining that education.