Student loans and the religious right: an opportunity?

I just read this story on CNN's website, and it is a bit disconcerting, at least for those of us with student loans.

NEW YORK (CNNMoney.com) - If you've borrowed money from Uncle Sam to finance your education or your child's, you might be able to save yourself thousands of dollars.

The trick: consolidating your federally guaranteed, variable-rate loans between now and June 30.

Here's why: your payments will be going up on July 1 due to an increase in loan rates. Those rates are reset every year based on what the 3-month Treasury yield is at the end of May.

Since this time last year, that yield has risen nearly 2 percentage points. And it may not go down much between now and May 30, even with the recent bond market rally.

http://money.cnn.com/...

Consolidate now if you have to.

I graduated in 1999 from Tulane University School of Public Health and Tropical Medicine with $27,000, and have $18,000 remaining.  Fortunately, I consolidated my loans at a 3.125% last year, and rates jumped after I consolidated.

According to the article, it looks like after July 1, Stafford loans could jump to 7.3%.

That would an increase in an interest rate of over 133%.

Now, I am suggesting that this could be an opportunity for Democrats to win some religious conservatives in 2006.

NEW YORK (CNNMoney.com) - Mayrose Wegmann, 25, should have been starting on her dream career as a political consultant by now. And saving toward her first home.

Instead, Wegmann, who graduated with a degree in political science and journalism from the University of Iowa in 2004 and moved to Washington, D.C., is working at a non-profit because it pays significantly more than entry-level politics work. And she won't even consider buying a home for several more years.

http://money.cnn.com/...

"We've never done this to a generation of young people before," said Dr. Heather Boushey, Senior Economist at the progressive Center for Economic and Policy Research. "We've never put a generation in their 20s in debt they can't get out of before they started their work life."

Why are student loans interest loans increasing?

Interest rates on student loans are set to increase this summer, because Congress passed a bill cutting federal student loan programs.

Weincek wishes that wasn't the case.

"I wasn't sure exactly how much money was racking up, now it's into the thousands, $10,000, $12,000," he said.

And he's not alone. According to one group that studies student debt, the average student owes $19,000 dollars in college loans when they graduate. That a 50 percent increase from 10 years ago.

Weincek says he wishes he would've known how bad it was going to get before he took out his loans.

The Deficit Reduction Act will also change the rules for debt consolidation. After July 1, college students won't be able to consolidate loans, they'll have to wait until after graduation.

http://www.wmdt.com/...

Young people cannot think of buying a home, getting married or having children.  Young people will delay getting married and will have fewer children.  One would think that this is something that pro-family conservatives would be concerned about and that it was Congress that orchestrated this.  It was the ill-conceived war that Chimp entered us into.  Basically, it is the Republicans fault.

Abortion isn't the threat to families.  Same-sex couples aren't a threat to families.  Republican policies are a threat to families.