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

  • Medical Marijuana Licenses Bring Concerns and Joy 1, November24, 2015
    5 growers across Florida are gearing up for the first legal marijuana in the states history. The five licenses were awarded yesterday, and as Mike Vasilinda tells us, it will still be the middle of next year before patients see the first products. Lifelong nurseryman George Hackney was awarded one of five licenses to grow […]
    Mike Vasilinda
  • AAA says Be Safe, Not Sorry 1, November24, 2015
    More than two million Floridians are expected to hit the roads over the Thanksgiving weekend. According to Triple A motor clubs, It is the busiest holiday travel weekend since 2008, and the auto club says the traffic is going be bad, there’s nothing you can do about it, so relax. “You can expect very buy […]
    Mike Vasilinda
  • Rick Scott Proposes 79.3 Billion State Budget with Potentially Higher Property Taxes 1, November23, 2015
    Governor Rick Scott is proposing a record state spending plan that cuts taxes by a billion dollars and boosts education spending. But as Mike Vasilinda tells us, the increase in school spending is coming from local property taxes, not state coffers. Governor Rick Scott chose a Jacksonville small company as the back drop for his […]
    Mike Vasilinda
  • Fantasy Sports Rules 1, November20, 2015
    Mounting legal issues have daily fantasy sports websites like draftkings and fanduel fighting legal battles in states like New York and Massachusetts, but as Matt Galka tells us, Florida legislators are scrambling to keep it legal here. Nevada says its gambling. New York says they can’t operate in the their state.  But daily fantasy sports […]
    Matt Galka
  • FSU One Year Later: A Quiet Anniversary 1, November20, 2015
    Today marks the one year anniversary of a shooting on the campus of Florida State University. Three students were injured. One critically. As Mike Vasilinda tells us, the university wasn’t taking any chances today. Two marked police vehicles were prominent outside Strozier Library. When asked, University officials said it was to give students peace of […]
    Mike Vasilinda
  • FSU One Year Later: Paralyzed Victim Still Recovering 1, November20, 2015
    Just after midnight tonight (Thur)marks the one year anniversary of an on campus shooting. 22 year old FSU engineering student Ronny Ahmed was paralyzed from the waist down last November. As Mike Vasilinda tells us the  now wheelchair bound student hasn’t let his injuries keep him from moving forward. Ronny Ahmed was pulling an all […]
    Mike Vasilinda
  • Guns on Campus Bill Clears Final House Committee 1, November19, 2015
    Friday marks one year since a gunman opened fire at Florida State’s library, and lawmakers are using the chaotic scene as a jumping off point for controversial legislation. As Matt Galka tells us, the bill to allow concealed carry on college campuses continued to move through one legislative chamber. There’s no lack of passion on […]
    Matt Galka
  • FSU One Year Later: Victims Still Trying to Heal 1, November18, 2015
    Friday marks the one year anniversary of the shooting at the FSU Strozier library that injured three. Today, Mike Vasilinda has the story of how two people who could have died next to each other that day last year are handling the fact they survived. Nathan Scott can still be found sitting behind the same […]
    Mike Vasilinda
  • Healthcare for Immigrant Children 1, November18, 2015
    Almost four hundred thousand children don’t have access to quality health coverage here in the state, an alarming number. As Matt Galka tells us, lawmakers are trying to cut into that number with a bill that would focus on children of legal immigrants who desperately need health care. Kids whose parents are legal immigrants are […]
    Matt Galka
  • GOP Lawmakers Seek Immigration Changes, Penalties 1, November17, 2015
    Five GOP lawmakers are behind a series of three bills to change immigration policy. One would make it a crime for someone who has been ordered deported to be in the state, another would remove lawsuit protections, known as sovereign immunity, for so called sanctuary cities that protect those here illegally, and a third would […]
    Mike Vasilinda

RSS Quote of the Day

  • Pierre-Joseph Proudhon
    "When deeds speak, words are nothing."
  • Willard Scott
    "Thanksgiving just gets me all warm and tingly and all kinds of wonderful inside."
  • Elie Wiesel
    "The opposite of love is not hate, it's indifference."
  • Aeschylus
    "It is in the character of very few men to honor without envy a friend who has prospered."




Oops, something went wrong.

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