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  • Volunteer Gets Crafty With Hand Painted Yard Signs for Candidate 1, October21, 2016
    In a time of big money campaigns, volunteers in one Florida Congressional race are a real throwback. As Matt Galka tells us, some folks are getting crafty when it comes to yard signs. Meet Herb Shelton. He’s not running for anything so don’t expect to see his name on the ballot. But Shelton has become a […]
    Matt Galka
  • Lawsuit says medical marijuana question not on some ballots 1, October21, 2016
    A lawsuit filed in Southeast Florida alleges that the medical marijuana amendment was left off some mail in ballots.  Attorneys say they aren’t sure if it was a half dozen, ten thousand or a hundred thousand ballots. A quarter million mail ballots have gone out Broward County, 60 thousand have already been returned. At least […]
    Mike Vasilinda
  • Federal Judge Rules Against Democrats in Registration Case 1, October20, 2016
    Thousands of Floridians took advantage of an extended voter registration deadline in the state, but getting them verified in time to cast a regular early voting ballot may be in doubt. As Matt Galka tells us, Florida Democrats hoped a federal judge could force the state’s hand and not make them cast provisional ballots. Florida […]
    Matt Galka
  • Politics and Policy at the Pub Thanks to Florida State 1, October19, 2016
    Some people go to bars and restaurants to get away from the noise surrounding politics – especially during this unique political season.  But as Matt Galka tells us, Florida state University is serving up heady policy discussion at a local pub. A couple of beers, a little bit of food…and some voting issues. That’s what […]
    Matt Galka
  • Just 12 Consumers have given to Consumers for Smart Solar 1, October19, 2016
      Florida’s investor owned utilities have pumped more than 15 million into Amendment one on November’s ballot. They say it protects consumers who have solar and those who don’t, but many believe it will only promote solar developed by the very companies companies pushing the amendment. The ads are slick. “Just think one for the […]
    Mike Vasilinda
  • Florida in the Middle of New Report Ranking State’s Gun Laws and Gun Violence 1, October18, 2016
    Florida is right in the middle when it comes to a new report correlating state’s gun laws and gun violence. But as Matt Galka tells us, some democrats in the state say we are going in the wrong direction. Stricter gun laws equals less gun violence. That’s the takeaway from the Center for American Progress […]
    Matt Galka
  • Judge Rules in Favor of Dems, Orders Mismatching Signature Fix 1, October17, 2016
    Voters who mail in their ballots now have some peace of mind if they scribble their names too sloppy. As Matt Galka tells us, a federal judge made sure that people will have the chance to fix a signature mistake – and make sure their vote counts. “The state of Florida has consistently chipped away […]
    Matt Galka
  • Supreme Court throws out new death sentencing scheme, inmates in limbo 1, October14, 2016
    The Supreme Court of Florida today said that a unanimous jury was required for the state to impose death, throwing out a newly enacted law that allowed ten jurors to impose the ultimate penalty, but as Mike Vasilinda tells us, the court left unanswered what happens to the nearly 400 people already on death row. […]
    Mike Vasilinda
  • Feds Suspect Florida Hack 1, October13, 2016
    Is Florida voting information in the hands of Russian hackers? As Matt Galka tells us, the feds think it might be, but a state agency says all is well. Cyber security and hacking have become prominent in the election cycle.  Federal investigators believe Russian hackers are behind the attacks. Republican presidential nominee Donald Trump is […]
    Matt Galka
  • Trump Remarks: Unsafe on any Campus 1, October12, 2016
    The book Unsafe on any Campus was released in July and details administrators inability to adequately deal with sexual assaults on campus, but as Mike Vasilinda tells us, the author now says their problem could be more difficult because of lewd remarks by Donald Trump. When the Washington Post released the video of Donald Trump […]
    Mike Vasilinda

RSS Quote of the Day



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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