Sure, it sounds good on paper, and every college student should be excited. But then the details come in. "The interest rate relief would apply only to need-based loans and doesn't help people who take out unsubsidized student loans -- a distinction not made in the campaign literature Democrats handed out before winning control of Congress last fall. The measure also abandons a pledge to reduce rates for parents who take out loans to help with their kids' college costs."
So in other words, because my wife and I make a good living, we won't see the cuts in her college loans (she's finishing up her masters degree). But, it doesn't make the distinction of poor students. I would rather see a distinction of "If you get a GPA of say 3.0 or above, you get X amount of a percentage cut in your loans". Tie the cuts to actual student performance. This will help out those who want to help themselves, rather then those who just want to coast through college.
I'm all for helping those who want to help themselves, but I certainly don't want to see cuts for someone who got high and drunk all year long and then decides that he/she can "get by" with a 2.0 GPA. Give them a financial incentive to study hard and do well in college.
Travis
travis@rightwinglunatic.com
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