Student loans
Middle class being hurt again
Who borrows student loans? The middle class, that's who.
Upper income people can afford college and lower income people get all sorts of financial aid. But those in the middle are too rich for welfare and too poor to pay the bill outright.
So who gets hurt, once again, by the increase in student loan interest? The middle income taxpayer. They now have the privilege of paying higher rates than they would for a mortgage
or a car loan. For a $30,000 loan balance, the interest alone will be $2040. That's double the $1020 they budgeted. It's $170 a month just in interest.
For those who can't keep up, it amounts to more the government can take from future Social Security payments and from any refunds they might get. What a way to start kids off in life. It's criminal.
Jennie Veary
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