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  • DOE says Test Scores Will Count, Superintendents Cry Foul 1, September1, 2015
    Test scores from this spring will count says the State Department of Education after a new report ordered by lawmakers has been released. But as Mike Vasilinda tells us, school superintendents say the report points out too many problems to ignore. After thousands of students were unable to take standardized tests this past spring, state […]
    Mike Vasilinda
  • Solar Amendment Gets Day in Court 1, September1, 2015
    Florida Supreme Court Justices asked tough questions today about the intent of a proposed constitutional amendment that would let businesses install large solar arrays on their roof tops and then sell extra power to their neighbors. The measure is opposed by all of the states big power generators, and after the hearing Steven Smith of […]
    Mike Vasilinda
  • Arrest Made in FSU Attempted Abduction 1, September1, 2015
    A 35 year old man is in custody in the state Capitol tonight. Antoine Warren was driving on the FSU Campus late Monday when he approached a young woman and asked if she was waiting for an Uber driver. The woman got into his car, but after driving aimlessly, the man tried to assault the […]
    Mike Vasilinda
  • Ethics Commission Staff Seek Financial Disclosure Compliance 1, August31, 2015
    Hundreds of public officials across Florida are about to be fined twenty-five dollars a day because they have failed to file required financial disclosure information. The information was due July first, but as Mike Vasilinda tells us the grace period to file the financial snapshot for almost a thousand people who have yet to file […]
    Mike Vasilinda
  • Tracking TS Erika 1, August28, 2015
    Watching and waiting. That’s what state officials and Floridians are doing as all eyes are on Tropical Storm Erika and it’s still to be determined path towards Florida. As Matt Galka tells us, the Governor has already issued a state of emergency. The effect Tropical Storm Erika will have on Florida is still very unclear.  […]
    Matt Galka
  • A Small Panhandle Dairy Fights State Over “Natural” Skimmed Milk 1, August28, 2015
    A small panhandle dairy 50 miles west of the State Capitol has been fighting the state for three years over whether or not it can sell it’s skim milk without being forced by the state to add vitamins to the milk. As Mike Vasilinda tells us, A federal judge may soon make the call. Ocheese […]
    Mike Vasilinda
  • Hurricane Ready 1, August27, 2015
    State officials are tracking Tropical Storm Erika as it makes it’s way potentially toward Florida. As Matt Galka tells us, it could turn into a hurricane, and the Governor says after all these years of Florida being hurricane-free, people still need a plan. Emergency management officials briefed Governor Rick Scott on the latest information for […]
    Matt Galka
  • Former Co-workers Still Stunned over Journalist’s Shooting 1, August27, 2015
    Former Florida Co workers of Virginia Shooter Vester Flanagan got together last night to share stories and support. As Mike Vasilinda tells us, for one of those co workers, it is a feeling of but for the grace of god she was not also a victim. Tallahassee TV-40 Alumni who worked with Vester Flanagan circulated […]
    Mike Vasilinda
  • Virginia Shooter had Tallahassee Ties 1, August27, 2015
    Vester Flanagan, the man who has been identified as the shooter of a Roanoke Virginia news crew while they were live on the air this morning worked here in Florida. As Mike Vasilinda tells us, Flanigan had a rocky relationship with a Tallahassee television station and the people who worked there.  Vester Flanagan, who used […]
    Mike Vasilinda
  • Hunters Could Outnumber Bears 1, August26, 2015
    Bear hunting season in Florida will be in effect in about two months. Officials say it’s an effort to help maintain the bear population, but as Matt Galka tells us, wildlife advocates are concerned about the amount of people who have already bought a permit. The woods could get a little more crowded in October. […]
    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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