Saturday, June 30, 2012

Safe Quarters

    One of my first blog posts to garner attention was "Nickel and Diming" (thanks to Powerline, who listed it as a "Pick" back in January - it's still #3 on my popular posts list.)  That post was a commentary on how the administration made such a huge deal out of cutting the federal deficit by $3 billion, the equivalent of the average American family cutting out one Starbucks latte per year.  Well, they are at it again with a twist, and this time, the Republicans are helping them out.  But this time, it's not the government saving pocket change.  It's student loan recipients.
    The administration has been harping on the Stafford student loan interest rate increase that was due to take effect July 1st.  They have encouraged students and others, via the campaign blog and Twitter, to tell Congress "don't double my rate."  Well, Congress obliged and Friday, legislation was passed to hold the rate at 3.4% instead of 6.8%.  But as I wrote on the 24th, this rate cut (if it is renewed in perpetuity, a likely scenario) will save the average Stafford student loan recipient a whopping 25¢ a day.  So all you students who needed that extra 15 minutes a day on the parking meter, you can breathe easy.  The federal government is looking out for you.

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