The government does not want you to better yourselves and if you even think about doing so they will throw a curve ball to get you where they want you. If you are in graduate school on loans no more six month grace period for you. A six month grace period, is when after a student graduates the government will cover the interest rate on their loans for six months. This grace period serves as a stress reliever since it helps give graduates time to find a job to begin paying back their loans. This is no longer the case Graduates now must pay back their loans while in school and when they get out, immediately.
The article which originates from the Chicago Tribune states “This change applies to new loans issued through July 2014 and students who take out these loans loans over the next year will receives the lower interest rate BUT they will be charged the moment they graduate. For those that will apply for Federal loans next year will be hit with a higher interest rate that beginds after they have graduated.”
The government did this since they noticed that more people are applying for graduate school.
So you know this country is messed up when on top of all the crap that the economy is going through they are making you choose between bettering yourselves and saving yourself money. I should have known something was up when talks about college tuition and debt came up, why? Lets be real this crapitalistic system has been set up like this for years and I do mean years, its these same measures that was used to keep blacks from attending school, period and white women.
I find it interesting that the moment the government gets involved is the moment the numbers of whatever they put their hands on increase. I’m sorry America but you have to do better then that because there are countries whose cost of graduate school is cheaper than yours.
So as news to future graduate students and graduate students of today please please please be wise with your money. I know graduate school is not cheap and I know that its super hard especially with thebarren nature of the economy, but it is imperative that you get a job now, if possible or work for a non-profit organization or get a side hustle going on such as: doing salon work, barbershop, and things of the like. These people are trying to halt your progress by putting you in debt for years to come.
Capitalism is all about debt because when someone owes you debt you can very easily have them work for years upon years to pay it off, but if they pay you what they owe in one large sum, then you no longer have a back up plan of money coming in. Why do you think interest rates are charged on principals because its all about profit and you can make the most profit off someone in debt.