Today, my mother and I had a conversation about colleges. Well, actually, she just told me about colleges and why she was right, I was wrong, the usual dialogue between us. Other mothers do that right? Anyways, she told me what I knew all along, but won’t admit aloud: we can’t afford to send you to any big name, fancy college, so don’t be putting that as a priority. It’s true. Even if I could get into an amazing school (John Hopkins, are you listening? How about you Northwestern?), we wouldn’t be able to pay the money for me to finish a bachelor’s degree. We’re middle class Americans. We don’t have enough to pay, but aren’t poor enough to get aid. Plus, I have other siblings with dreams of educating themselves in college. How could I selfishly put my family through any stress? I won’t do it.
(College is muy expensive. That’s spanish for: college is very expensive.)
This brings me to the inspiration for this blog post in the first place. I was reading an article on aie.org, a website that gives me information about colleges. Basically, it said this:
“For subsidized loans taken out by undergraduate students, the interest rate was scheduled on July 1, 2012 to automatically reset from 3.4% to 6.8%. Both political parties were in favor of keeping the rate at 3.4%. However, after extensive discussion, there had been no political agreement as to how the federal government would pay to keep the lower interest rate. As the July 1 deadline approached, tensions rose.
On June 29, Congress passed The Temporary Surface Transportation Extension Act of 2012 (H.R. 4348). This action revised the Higher Education Act, extending the 3.4% rate for undergraduate, subsidized loans for one year and also limiting the time period in which certain new borrowers may receive an interest subsidy while in-school. With the president’s signature, the issue is resolved, at least for the short term.”
What? So you’re telling me that BOTH parties finally agreed on something? Dear sweet Lord baby Jesus! Isn’t that something?
On a more serious note, this decision dissapoints me. As someone who is currently applying to colleges, several things terrify me about what these two paragraphs are saying. 1) I have a government that can’t take action even when everyone agrees. What does that mean on any other issue? Are they always going to be this indecisive? 2) This increase in interest rate wasn’t seen as significantly as I felt it should have. If it had, wouldn’t they had made a more dependable and long lasting extension for the 3.4% interest rate? 3) I am going to have to face the stress of this insecure and short termed Temporary S.T. Extension Act when in my first year of college. And, if the rate does increase, I am going to have this wonderful terribly large debt after college, no matter where I go. Hurrah!! *Cries inside*
(Why, government, why?)