We thank you for your heart-felt patriotism citizen, in this time of need...

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BiOGoly

PharmD, BCGP
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  1. Pharmacist
(To be read in the voice of Fred Thompson from "Law and Order", with just a touch of Boss Hog)

Dear Citizen:

It is a personal and profound honor on behalf of me and my congressional colleagues to heartily congratulate you on your sacrifices and patriotism in this, our pressing time of need. As you are no doubt aware our country is currently engaged in an epic struggle to bring democracy to Central Asia and the Middle East, requiring daily expenditures of nearly $200 million. At the same time expenses in the wake of hurricane Katrina are severely hindering our ability to make appropriate budgetary allocations to this and other endeavors. Critically, some misguided liberals have used these contingencies as excuses to call for the end to the trillions of dollars in "Tax Relief" for the most financially productive Americans...just when it's needed most!

With these concerns in mind we take immense pride in the patriotism of you young men and women as we in congress increase the interest rate on student loans to 6.8%. Just as an illustration of your generosity any patriot taking out a loan of $150,000, to be repaid in 10 years at a rate of $1726/month, will be making a "donation" of an extra $13,000 over the life of the loan. The true patriots on the 25 year plan, who will be paying $1041/month, will be contributing an extra $39,000! These honorable men and women will not only have the distinction of being listed under the title of "Benefactor" in the Profiles in Freedom section of the Halliburton corporate newsletter, but ALSO will receive a hand-stamped Certificate of Appreciation from Americans for Tax Reform chairman Grover Norquist himself.

Whether you are a struggling student, Medicaid recipient, or paralyzed veteran, don't think we in congress are unappreciative of your dutiful patriotism. Through generous monetary sacrifices like yours, not only can we continue to "Let Freedom Ring" in the oil-laden developing world, but also allow the most financially productive members of our society the ability to be even more productive.

God bless you Citizen,
And God bless the United States of America.
🙂
 
Funny post :laugh: :laugh:

You gotta love the skyrocketing cost of higher education and I'm sure all of us are looking forward to those student loan payments. 😱

I guess this is the downside of the higher interest rates. Too bad a lot of us will be entering Pharm school during a time of higher student loan interest rates and ever increasing tuition.
 
It's not too late. The House of Representatives is set to vote on this sometime this week - perhaps on February 1. Write your congressman and express your outrage (if you have any, that is).

You can find out who your representative is and how to contact them by going to: www.house.gov . Enter your zipcode into the field at the top.

troy
 
Which loans does this refer to exactly? If you already have loans can they just decide to increase the intersest rate on those.
 
iheartpandp said:
Which loans does this refer to exactly? If you already have loans can they just decide to increase the intersest rate on those.

Yes and no. If you already have student loans AND HAVE CONSOLIDATED THEM, you can lock in the lower rate. If you don't consolidate them, though, most loans (I'm not sure if all gov't loans are this way) will have a boost in the interest because they have a variable rate (up to 8.25%, I think). If this passes, any new loans will have the higher rate. If, by some miracle, the interest rate drops again, you could consolidate at that lower rate (although I'm pretty sure that you can only consolidate loans once). I don't think that interest rates on student loans will be as low as they have been in the last couple of years again.

Keep in mind that I'm NOT a financial aid officer - check with your school to be sure.
 
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