Pro-student Legislations on Private College Loans

Regarding the standard rules and procedures concerning private student loan programs, the Congress would like to put its hand on it. But the change that they are contemplating to implement is to remove the chance of college students to combine private college loan programs in order to acquire low rates of interest for themselves. If this happens, the students will definitely be paying more in interests, amounting to additional 3 to 5 thousand dollars.

The question that has always been asked by many is this: how much financial assistance should the government provide and extend to college students? And how high should be the interest rates of private loans that students will need to tolerate and pay off, without any hint of abuse on the paying capacity of the student? Of course, since most students deal with such repayment themselves, it should be taken into account the limits of the students’ capacity to repay their loans.

Instead of making the unfortunate mistake of making anti-student moves, legislations should be introduced which will help college students in maximizing the advantages and financial benefits that they can obtain from private student loans. Likewise, they must initiate moves that will bring about the toning down of the negative effects of acquiring such private loans, like repayments accompanied by exorbitant rates of interests.