tag:blogger.com,1999:blog-32294008.post483539014734142122..comments2023-04-18T09:58:42.054-04:00Comments on J to the Power of 7: HR 5: CUTTING THE COSTS OF STUDENT LOANS FOR STUDENTS AND TAXPAYERS IN THE FIRST 100 HOURSMatt Janovichttp://www.blogger.com/profile/02700158612127533221noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-32294008.post-33645913972020380582007-02-27T14:30:00.000-05:002007-02-27T14:30:00.000-05:00Obviously you don't understand the full details of...Obviously you don't understand the full details of this bill and it's additions (Sunshine Act & Star Act). Rightfully so, since its sugar coded with, "It's going to lower your student loan interest rates"!Yes, loan rates will drop but .68% every year for the next 5 yrs, it's not an instant drop and it's ONLY on subsidized loans. Most student loans are unsubsidized loans which will not be reduced at all. Also, loan rates are subjected to increase again once the 5yr term is over, just in time for those new graduates to become responsible for the interest on these loans. Additionally, increasing the fees to private lenders will force a lot of these lenders out of the student loan industry, minimizing borrowers choices and reducing incentives only private lenders give to borrowers. The government is trying to monopolize the industry with this bill and it's additions. THESE BILLS ARE BAD NEWS FOR STUDENT LOAN BORROWERS!I advise doing your online research, you'll be shocked at all the hidden things these bills are going to do student loan borrowers.Anonymousnoreply@blogger.com