Welcome to

Capitol News Service

Florida's Best Political Television Coverage

Recent Posts

Capitol News Service Channel

Oops, something went wrong.

RSS Capitol News LIVE

  • State Supreme Court Could Decide Fate of All Death Row Inmates 1, May5, 2016
    Nearly 400 prisoners on Death Row anxiously await to see if their death sentences will stand. As Matt Galka tells us, the case that forced Florida’s death penalty system to be ruled unconstitutional was back before the state’s high court Thursday. Timothy Lee Hurst was recommended death 7-5 by a jury for the 1998 murder […]
    Matt Galka
  • Bat Guano To Shut Down Drivers License Renewals This Weekend 1, May4, 2016
    If you birthday is this Friday, Saturday, or Sunday, you might want to check to see if it expires this weekend. Renewals will not be available online because the state is moving the computers, and as Mike Vasilinda tells us, you could be ticketed if you are stopped. This Tallahassee office complex was moving truck […]
    Mike Vasilinda
  • Insurer, Hospital Battle Over Transparency 1, May4, 2016
    A fight between auto-insurer State Farm and hospital UF Health Jacksonville (formerly Shands Jacksonville) could effect the wallets of patients around Florida. As Matt Galka tells us, State Farm wants to know if they’re paying too much to the healthcare provider – and the case went in front of the state’s Supreme Court Wednesday morning. […]
    Matt Galka
  • Legal Heavyweights Want Death Sentences Commuted to Life Sentences 1, May3, 2016
    Some legal heavyweights are urging the state’s Supreme Court to convert death row inmates sentences to life sentences.   A group that includes former Supreme Court justices and American Bar Association presidents filed a legal brief Tuesday ahead of a Supreme Court case later this week that could determine the fate of those sitting on […]
    Matt Galka
  • AFP Keeping Score 1, May3, 2016
    If you voted for a ban on fracking, expanding Medicaid, or against school choice – you probably didn’t get a high mark from one of the most politically influential advocacy groups in Florida. As Matt Galka tells us, their conservative friendly report card does show a riff with the Governor’s policies. Florida lawmakers take thousands […]
    Matt Galka
  • Rick Scott for VP? Key Advisor Says No 1, May3, 2016
    A Donald Trump victory today in Indiana could all but seal Trump’s nomination, and as Trump gets closer to the nomination, Trump himself, as Mike Vasilinda tells us, has suggested Florida Governor Rick Scott could be in the running to be his Vice Presidential running mate. Over the weekend, Trump fueled speculation Scott was being […]
    Mike Vasilinda
  • Groups Turn Up Heat on DOC 1, May2, 2016
    The state’s Department of Corrections is under fire for choosing not to renew the contract of a South Florida prisoner re-entry facility that teaches inmates valuable lessons on rehabilitation and helps keep them from going back to prison.  – and a Bradenton facility could be next. As Matt Galka tells us, lawmakers are now putting […]
    Matt Galka
  • Door Opens for Florida Cannabis and Hemp Research 1, May2, 2016
    LEXINGTON,, KY- Hemp and Cannabis Research was illegal until 2014 when Congress allowed it in the Farm Bill. A little noticed provision of the new medical marijuana law in Florida allows state universities to conduct research. That’s a first for Florida, but as Mike Vasilinda tells us, not for other states like Kentucky, which is […]
    Mike Vasilinda
  • Conference Explores Lack of Electric Grid Protection 1, May2, 2016
    AUSTIN, TX- Massive solar activity or terrorist nations could bring down our electric grid with little or no warning is the message coming out of a conference in Austin Texas attended by some Florida lawmakers, and as Mike Vasilinda tells us, as bonkers as the idea sounds, it is very real.says ATM Machines will stop […]
    Mike Vasilinda
  • Doctors Hope Appeals Court Lifts Gun Gag Order 1, April28, 2016
    Doctors opposing a law that prevents them from talking to patients about guns filed briefs this week in an appeals court. As Matt Galka tells us, the ongoing legal fight looks to be continued on the federal level. A group of doctors are hoping a law imposing a gag order on them preventing conversations about […]
    Matt Galka

RSS Quote of the Day

  • Quintilian
    "It is the nurse that the child first hears, and her words that he will first attempt to imitate."
  • Calvin Coolidge
    "It takes a great man to be a good listener."
  • David Ben-Gurion
    "Anyone who doesn't believe in miracles is not a realist."
  • Ralph Waldo Emerson
    "The years teach much which the days never know."

Categories

Archives

Student Loan Debt Passes A Trillion Dollars

May 8th, 2012 by Anna Laura Rehwinkel

Republicans in the US Senate stopped a debate on student loan interest rates earlier today. If congress doesn’t take action by July, interest rates will double to nearly seven percent. As Whitney Ray tells us, student loan debt nationwide is at a trillion dollars and growing.

Student loan debt passed the trillion dollar mark Tuesday morning according to finaid.org. In Florida, half of all college students graduate with debt. The average amount is 21-thousand dollars. Nationwide the average is 25-thousand.

The housing crisis is partially to blame for the recent spike in student loan debt. In the past families would sometimes borrow against their homes to pay for school, but with property values falling, banks aren’t as willing to take the risk.

But nearly no one is turned down for a student loan, and the money isn’t just for tuition. Some of it pays for room, board and even entertainment. While the debt grows, congress is being asked to freeze student loan interest rates. If they don’t act by July rates will double to 6.8 percent.

Vice President Joe Biden visited FSU earlier this year, and promised to lower college costs, but at least one student objected arguing that government assistant was driving prices higher.

“It creates this perpetual problem where tuition keeps going up so we give more subsidies and tuition goes back up and we give more subsidies,” said Lawrence Dunn who has 20-thousand dollars in debt.

Ed Moore, a member of Florida’s Higher Education Coordinating Council disagrees. Moore says Congress needs to freeze rates. And that 6.8 percent is artificially high.

“There is no economic justification, no market justification for an interest rate to be 6.8 percent,” said Moore.

Moore also says despite the rising cost, a college degree is still worth the debt. The state doesn’t keep records on the total amount students in Florida owe. It also has no financial obligation if a student can’t pay back the money. The debt stays with the borrower, because Federal law prevents people from shedding student loan debt, even if they declare bankruptcy.

Posted in State News | 141 Comments »

Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.

copyright © 2013 by Capitol News Service | Powered by Wordpress | Hosted by LyonsHost.com