During a discussion on interest rate increases on some federal student loans, Rep. Charles Rangel (D-N.Y.) said, “we shouldn’t even be charging young people to go to school.”
Rangel, who was censured by a Democrat-controlled House in 2010 for filing misleading financial disclosure forms and failing to pay all his taxes, thinks making students pay off their college loans is unfair, CNS News reported.
“In the long run, it would seem to me, that we shouldn’t even be charging our young people to go to school because ultimately our country and our treasury is the beneficiary,” Rangel said.
As CNS News noted, interest rates on federally subsidized Stafford student loans doubled from 3.4 to 6.8 percent on July 1st, after Congress failed to reach a deal to keep rates down.
“The whole idea that they have to borrow money and be indebted for years after their graduation is repugnant to the idea that we should be encouraging – not providing deterrents – for our kids.”
As expected, Rangel is unclear on how to pay for such generosity. Although, paying all taxes owed to the federal government would be helpful. Right, Mr. Rangel?
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The longest-tenured writer at BizPac Review, Tom grew up in Maryland before moving to Central Florida as a young teen. It is in the Sunshine State that he honed both his passion for politics and his writing skills.
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