They did not pass the law that would give students lower interest rates but they probably will.
I wish to go on record as saying I don’t want those lower interest rates passed. We don’t need to make student loans more attractive. We need to make student loans less attractive.
I watched a TV show last night which included the story of a young dancer who had gotten a much-coveted $28,000 per year position as a dancer. She was lamenting that she could not pay off her $60,000 in loan debt. Of course she can’t! There was close to zero chance that her intended career would supply her with the salary needed to cover that loan debt.
Nobody should take out $60,000 in loans to get a dance degree. Or a theater degree. Or an anthropology degree. Not unless they plan to live with their parents for a number of years.