Mississippi Governor Vetoes Winter Storm Aid Bill, Accusing Senate of ‘Possibly Criminal’ Act

So there are a few things to understand about the US system. First, education is never discussed as a benefit for society. It's an individual thing, you choose to get an education for your own benefit, so because you got such a nice thing you can't complain about the costs. That also means that if you were smart you'd get an education in something that's going to pay well in a decade, and if you fail to predict the future accurately, or worse you get your education in something worthless like the history of fascist states or the workings of alternative economic systems, then you deserve to be poor. There's also some difference between federal loans and bank loans, the federal ones usually being slightly less predatory, although apparently federal loan interest rates have skyrocketed over the last few years. Either way, though, you have to understand that this isn't like a normal loan, they're taking a big risk on you, since you don't have any income yet and there's no car or house for them to repossess if you can't pay. So obviously it would be unfair to the lender to expect them to charge a normal interest rate, or if it were legal for you to declare bankruptcy and have the court let you out of it. The poor innocent banks need careful protection from these greedy malicious college students, obviously. All of that being said, the current federal interest rates [can be found here](https://studentaid.gov/understand-aid/types/loans/interest-rates) and are between 6 and 10%, not 12%. But federal loans don't cover everything, and private loans can be a very different story, totally dependent on who you got them from and when. So it's definitely a very messed up system deserving all the sarcasm in the world. Edit: I also have to add that this has a direct impact on our medical costs, as well. Every doctor has to first go through college, during which they'll collect a bunch of debt, and then go through even more years of medical school, which is even more expensive and has even worse loan rates. So, by the time they get to actually treating patients as full fledged doctors they're drowning in debt. They have to have high salaries just to keep up, and then more on top of that before it can begin to look worth it. Add that to the horrific inefficiencies of our insurance system, and our refusal to make any attempt to control costs, and here we are.

>What is the justification? Greed and suppression of the common folk. Reagan's aide was caught saying that an educated populace was too dangerous.

The only time any of my loans were under 6% was during Covid. I was able to refinance one of my 12% ones down 7.8%. my 7% ones went down to 2.25 for awhile, and my federal loans are fixed at 6.25%. That's why we are bitching about student loan relief. It's not that we don't want to pay them back, it's that the interest rates as so high, a lot of us can't pay them back. You pay every month, and sometimes it doesn't even cover the interest, and they apply it to accrued interest before they apply to principal, so you just never get out of it. I've been paying for 15 years, and just paid my last private loan off two weeks ago. Interest totals have been nearly 50% of the principal balance. Meaning, I didn't just pay an extra 6% on top of my principal. Let's say I borrowed 30k. I paid 14k in interest, so on just that loan, I paid what I borrowed 1.5 times. Now multiple that by all 6 loans I had. It's not that we don't want to pay back what we borrowed, we would just like the same low interest rates banks and corporations get to utilize. I started my adult life owing $1200 a month in 2011. That was practically everything I was making, and since they were all through different servicers, it was the lowest payment I could get, being on all of their income driven repayment plans. I was luckily able to take advantage of the low interest rates during Covid, and got a better job during that time. Between Covid, and the SAVE plan being tied up in the courts right now, I've made two payments on the federal loans since 2020, and they only recently started accruing interest. The only way I was able to speed up repayment was because of a global pandemic that killed millions, and interest relief.

Congress sets the rate and there's different rates for subsidized and unsubsidized loans. My subsidized loans are pretty reasonable. The unsubs are the highest interest rate I'm paying for anything (I don't have cc debt). Higher than car, house etc

My federal student loans have rates between 3-10% I was 18 when I got some of those with no credit history. Some I’m (apparently??) being charged interest on daily now. I took out a total of like $50,000. I owe over $68,000 now. America sucks.

This .. was... the entire reason we needed to forgive the loans. There are millions of people walking around with loans averaging 9%, and they are negatively amortized, so they have spent decades just GAINING principle that is then charged MORE interest. The "payment plans" offered by the DOED do not actually pay off the loans. Anything less than the minimum standard payment will never reduce the size of the loan, only grow it. Yet we needed all these payment plans to HIDE the fact that over 60-70% of them should now be in default. That would do more than cripple borrowers. That's millions of people who won't even be able to get jobs because they owe thousands to the government, and then can't get public assistance aid. Starting to look ugly now, right? But no. Let's just squeal moronically about PeRsOnAl ReSpOnSiBiLiTy like that will undo 30-40 years of economic depression and a lack of life savings. Let's not even talk about giving teenagers massive loans using master promissories with lending terms that would never be permitted in any other kind of loan due to how predatory it is.

Federally backed loans are 7%, but they cap at about 10K a year. It isn’t enough unless you go to a local state university, which isn’t the best option in some fields. Private loans depend on lot, especially your/your co-signer’s credit. They can go as low as 4% and as high as like 18%. The justification is…because they can. Like everything else in the US, if there are no laws against it, they’ll rob you as much as they can. And the people writing the laws are financed by the people doing the robbing, so nothing changes.

American interest rates aren't that high? * Typical credit cards offer 16 to 30% interest rates. * Typical short term loans (payday loans) were often 20-40% APR until those got shut down by the government. * Typical bank loans are 10-20%. * Typical student loans are 6-10%. * Typical car loans are 5-10%. * Typical home loans (mortgages) are 3-7%. All of these numbers are a a LOW point right now. If the federal reserve raised interest rates again, they'd all go up.

Most of this isn't true. Federal student loans are run by the government, full stop. The gov hires private companies to service the loans, but the money goes back to the government. Fannie Mae deals in mortgages, not student loans. Loans are absolutely predatory, but they're in the 6-9% range, not 12+.

Woooow ok that’s fucked lol Fuckin rightwingers man… so blatantly and consistently corrupt.

Is it Mississippi getting better or all the other states getting worse?

"Thank god for Mississ.. what? Oh no."

Moreso when you heavily invest in training educators on the science of reading with a heavy emphasis on phonics, comprehension, and vocabulary, you can improve.

It’s literally NAEP scores which are the same test for all states. But go off.