Annotated Bibliography
Emily Lupo
Professor Kilgore-Prugh
English 120/Honors College Composition
6 September 2014
College Loans: Detrimental to a College Student and Their Family: An Annotated Biography
Delisle, Jason, and Foundation New America. "Federal Student Loan Interest Rates: History, Subsidies, And Cost. Issue Brief." New America Foundation (2012): ERIC. Web. 9 Sept. 2014. Delisle discusses how $650 billion of $845 billion in student loans are Federal loans. Unsubsidized Stafford loans have a 6.8 percent fixed interest rate, but are the most widely available loan. A temporary reduction on the interest rate of this loan expires this year, leaving many people puzzled. The federal government is making money off of student loans as it is charging students a higher interest rate on the loan for the student than the federal government is being charged to borrow. The article further discusses the history of the federal student loan interest rates and how the interest rate continues to increase causing House Democrats to say “Congressional Republicans… have allowed student loan interest rates to increase, making student loans harder to repay.” That being said, the federal government does offer loans at a lower interest rate than could be found elsewhere, especially on the private market. While many students may have difficult repaying their college loan debt, other students may find the loans affordable.
Texas Guaranteed Student Loan, Corporation. "Balancing Passion And Practicality: The Role Of Debt And Major On Students' Financial Outcomes. Research Report." TG (Texas Guaranteed Student Loan Corporation) (2012): ERIC. Web. 9 Sept. 2014. Although TG admits that borrowing loans is a beneficial long term investment, in the short term, student loans may burden the borrower. TG expands upon that idea by discussing the degrees that are more likely to earn more and how that may affect the students with the loan debt. As there is a greater competition for jobs it may be more
Professor Kilgore-Prugh
English 120/Honors College Composition
6 September 2014
College Loans: Detrimental to a College Student and Their Family: An Annotated Biography
Delisle, Jason, and Foundation New America. "Federal Student Loan Interest Rates: History, Subsidies, And Cost. Issue Brief." New America Foundation (2012): ERIC. Web. 9 Sept. 2014. Delisle discusses how $650 billion of $845 billion in student loans are Federal loans. Unsubsidized Stafford loans have a 6.8 percent fixed interest rate, but are the most widely available loan. A temporary reduction on the interest rate of this loan expires this year, leaving many people puzzled. The federal government is making money off of student loans as it is charging students a higher interest rate on the loan for the student than the federal government is being charged to borrow. The article further discusses the history of the federal student loan interest rates and how the interest rate continues to increase causing House Democrats to say “Congressional Republicans… have allowed student loan interest rates to increase, making student loans harder to repay.” That being said, the federal government does offer loans at a lower interest rate than could be found elsewhere, especially on the private market. While many students may have difficult repaying their college loan debt, other students may find the loans affordable.
Texas Guaranteed Student Loan, Corporation. "Balancing Passion And Practicality: The Role Of Debt And Major On Students' Financial Outcomes. Research Report." TG (Texas Guaranteed Student Loan Corporation) (2012): ERIC. Web. 9 Sept. 2014. Although TG admits that borrowing loans is a beneficial long term investment, in the short term, student loans may burden the borrower. TG expands upon that idea by discussing the degrees that are more likely to earn more and how that may affect the students with the loan debt. As there is a greater competition for jobs it may be more