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Monday, August 1, 2011

Grad Students of the America- unite & suffer

In the last posting, we explained various reasons why we hope the debt ceiling deal falls through, at least for a few days.  And if you're a graduate student or parent of one, you might want to start feeling the same, or not want it passed altogether


Debt ceiling deal to hit grad students hard -- "Some students will have to start paying off their loans while they're in school under a last-minute debt ceiling deal to keep the country out of default and reduce deficits by at least $2.1 trillion over a decade.  As part of the savings to trim the deficits, Congress would scrap a special kind of federal loan for graduate students. So-called subsidized student loans don't charge students any interest on the principal of student loans until six months after students graduated.

Congress would also nix a special credit for all students who make 12 months of on-time loan payments.

The changes would take place July 1, 2012."

~ If your life economically is better today, August 1st 2011 than it was exactly three years ago, understand you are one of the Very few & probably best to not speak openly of it.

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