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Reduce interest Rates on Federal Student Loans

Created by C.K. on April 19, 2012

The current high interest rates of 6.8% for federal student loan dept need to be reduced. Current economic conditions resulting in Unemployment and underemployment are causing recent graduates to go into forbearance or at best barely cover their student loan interest. Many individuals are finding that because of their current income they can't even cover their interest resulting in a ballooning balance. The period immediately after graduation is when the most Interest capitalizes on these loans and recent graduates are getting punished by financing the poor decisions of the previous generation. This is Morally and Ethically wrong. The US Prime rate hovers at just above 3% the student loan interest rate should match this.

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