The average college tuition for one year in the United States is $29,056. Over four years this amount, which almost always increases from one year to the next, often leaves graduates in debt before they have even had the chance to search for a job. This last month, a bipartisan group of Senators has drafted a potential plan to restore lower interest rates for student borrowers.
This is the latest attempt by the government to off-set the steep interest rates that have almost doubled. A previous plan was rejected because of the cost to the Senate it required, so it is still unknown if this deal will pass. Potentially it will offer university students lower interest rates on their loans through the 2015 school year, but then the rates are expected to exceed the point they were when students left campus this spring.
Herve, owner of HMS Plumbing, a plumber Manassas Va. residents have used for years, thinks that this is a good short term move. “There are so many students in our town and all over the country that are struggling after they graduate to pay off their huge loans. Although this could be a good move to help short term, people going into university now will also need help.”
Whether you are going to school to be an accountant or a plumber, Manassas to Seattle, this plan will hopefully cut graduates a little bit of a break, at least for a few years. Lawmakers from both Republican and Democratic parties have called this rate hike senseless, but have different opinions on how to restore the lower rates.
Economists predict however, that if the economy continues to improve, borrowing rates would climb. The current proposed compromised that was reached earlier in the moth would limit how high those rates could go, although all were higher than the current fixed levels.
HMS Plumbing is a family-owned business that provides high-quality and reasonably priced plumbing services in several counties in northern Virginia. For further information about HMS Plumbing and how to find an excellent plumber, Manassas residents should visit the website at http://www.hmsplumbing.com .
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