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  • Confederate Controversy 1, July6, 2015
    Monday was supposed to be a joyous celebration of the new class of Florida Veterans inducted into the state’s Veterans Hall of Fame.  But as Matt Galka tells us, a wild scene erupted because of a Confederate Veteran supporter. David McCallister with the Sons of Confederate Veterans group was outraged Monday. He’s pushed for Confederate […]
    Matt Galka
  • Punching Video leads to charges against FSU Quarterback De’Andre Johnson 1, July6, 2015
    Surveillance video released by the office of State Attorney Willie Meggs appears to show freshman FSU quarterback De’Andre Johnson punching a woman at the bar Yanni’s. Johnson was charged with battery after the video was seen by the State Attorney. He has been suspended from the team indefinitely.
    Mike Vasilinda
  • Cracking Down on Johns to reduce Prostitution Demand 1, July6, 2015
    State lawmakers have increased the penalties for people soliciting prostitutes. A second offense now requires at least ten days in jail. And as Mike Vasilinda tells us, those convicted must also pay for and attend a “johns” school. Prostitution is said to be the worlds oldest profession. But here’s something you don’t often see…The woman […]
    Mike Vasilinda
  • No More Quotas 1, July2, 2015
    If you’ve ever seen what seems like a lot of cops going after speeders on a drive and said to yourself “I guess they have to meet their quota,” you can worry a little less now. AS Matt Galka tells us, a new law cracks down on quotas. Juanita Boykin and her husband were on […]
    Matt Galka
  • Fake Service Dog Legislation Takes Effect July First 1, July1, 2015
    Starting today, people using fake service dogs might find it a littler harder to pull off their scam. New Legislation gives businesses more flexibility, but as Mike Vasilinda tells us, the legislation also makes sure people with real disabilities aren’t mistreated. Meet Lando….and owner Tiffany Baylor.  Tiffany is sight challenged. “For me, I see my […]
    Mike Vasilinda
  • Abortion Law Back and Forth 1, July1, 2015
    A North Florida judge temporarily blocked a 24 hour abortion waiting period law from taking effect Wednesday, but the decision was immediately appealed. As Matt Galka tells us, that meant the law did apply to Floridians, but opponents continued the fight. July 1st is typically a day where new laws take effect and plenty did […]
    Matt Galka
  • Jumping Sturgeon on the Suwanee 1, June30, 2015
    Each year thousands of prehistoric Gulf Sturgeon enter the Suwanee and six other rivers in Florida. The fish are know to jump, and have hurt two people, neither seriously, so far this year. As Mike Vasilinda tells us, state officials are warning July fourth boaters to be on the lookout. The Suwanee River. Quiet. Peaceful. […]
    Mike Vasilinda
  • Another City Opts Out of Red Light Camera Program 1, June30, 2015
    The $158 dollar red light camera fine has annoyed plenty of drivers around the state. As Matt Galka tells us, another city is opting out of the program – and cities around the state aren’t seeing the same amount of money coming in they once did. Attorney Ian Nesbeth has defended dozens of red light […]
    Matt Galka
  • Executions Back on Track after High Court Ruling 1, June29, 2015
    The US Supreme Court has ruled that the drug midazolam is acceptable for use in lethal injections. Four Oklahoma convicts had challenged the drugs use, and Florida courts stopped executions here pending the outcome. As Mike Vasilinda tells us, the ruling is now likely to open the door to dozens of executions in Florida. The […]
    Mike Vasilinda
  • Juice Gets the Budget Squeeze 1, June29, 2015
    Florida’s budget takes effect Wednesday and among the vetoes – a tourism staple. As Matt Galka tells us, money requested to serve free Florida orange and grapefruit juice at welcome centers got the ax. “Welcome to Florida would you like some juice.” That phrase has greeted tourists stopping by Florida welcome centers near the state […]
    Matt Galka

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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.

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