Student borrowers are being hit with unconscionably high interest rates - some as high as 8.5%. At the same time, the Federal Reserve has been lending to for-profit institutions at rates close to 0% for the better part of a decade. It is time for the government to step in and offer the same interest rate savings to students on all student loans that it does to for-profit borrowers.
Why is this important?
The amount of interest owed on student loans is unconscionable.
