Obama, Schumer and the Student Loan Armaggedon
Over 7 million students receive some sort of subsidized student loan from the U.S. federal government. That is a ton of debt and it's getting larger every year: eclipsing credit cards and car loans, the figure right now stands at around $870 billion nationally. And, on July 1st, it could double in size.
In an effort to avoid the college credit armageddon, Schumer is pushing forth legislation that willblock
the 3.4 percent increase by freezing the current rate for another year. But these are the kick-the-bucket negotiations that got us here in the first place: with the extension,Runnin' Scared
will probably find itself writing another article, identical to this one, a year from now about the impending loan crisis.
Get the This Week's Top Stories Newsletter
Every week we collect the latest news, music and arts stories — along with film and food reviews and the best things to do this week — so that you’ll never miss Village Voice's biggest stories.
- We Found the Most Fascinating (and Depressing) Site on the Internet
Sat., Nov. 28, 8:00pm
Sun., Nov. 29, 9:45am
Sun., Nov. 29, 10:00am
Sun., Nov. 29, 12:00pm
- This Brooklyn Local is Making a Web Series about Growing Weed
- New York City's Food Pantries Are Struggling to Keep Up With a Growing Demand For Meals