While the nation may have avoided a major economic crisis last week by raising the debt ceiling, the move comes at a cost to graduate and professional students.
Under the new deal, interest subsidies on graduate student loans will be eliminated next year, meaning interest will accrue on those loans while the student is still in school, instead of being paid by the government until six months after graduation. Meanwhile, the Congressional Budget Office predicts the cost of graduate student loans will increase by more than $18 billion over the next decade
While getting a deal done was a necessary accomplishment, disinvesting in education is not the right path to take. The debt issue is one of many that must be tackled to dig the economy out of its ditch, a task which will undoubtedly require more jobs and a greater, better educated workforce.
Students hardest hit will most likely be those enrolled in already lengthy, expensive programs such as medical and doctoral programs.
Furthermore increasing the cost of long-term programs such as medical degree programs does a disservice to the general public.
It makes sense to invest in education, especially at this time, since educated students ultimately result in a more skilled, capable workforce. In a world where it is difficult to get a job without a degree, more and more students choose to continue learning through graduate programs. To eliminate these subsidies is detrimental to graduate students, and sabotages our entire economy in the long run.
UMN students have traveled to Florida colleges to collaborate with students on various projects.
When UMN students plan for a vacation, having trip cancellation travel insurance is a worthwhile commodity to check out.
Minneapolis Used Cars
Give back to the Minnesota community with a boat donation at boat4causes.org.
If you have been involved in a car accident call a Philadelphia Car Accident Lawyer for a free consultation.