College bound students should have been able to take out those loans at the same rate banks get to borrow money. Extremely profitable Corporations get tons our tax dollars, while paying no taxes and actually getting money back. The Federal Flood Insurance program is $25+ billion in the hole. Guess who will have to pay that down? I paid my own way through college, no help from my parents. However, back then, college wasn't as costly as it is today. I also started a business back in 1982. My loan rate was an immoral 20%, and I was able to pay it off ahead of time. Perhaps the answer is to allow these kids to refinance at the same rate banks pay for loans, with the stipulation they stay with that bank for all of their banking needs, until their loans are paid off. Banks are cash cows for the owners.
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