As the parties in D.C. bicker about who’s to blame for the recent increase in student loan interest rates, at least one Connecticut college professor is asking: why not make simply make it free?
Central Connecticut State University Professor Jesse Turner said in an interview that European countries do a better job balance corporate subsidies and social spending.
“They’re way ahead of us,” said Turner, who teaches reading and language arts. “They invest in corporations but they also invest in their people.”
Some members of Congress have proposed giving students the same interest rate that big banks get from the Federal Reserve–a rate that’s now near zero. Turner said that increasing rates on those still in school could force more of them to move back home and put off important life milestones like getting a job, buying their first house and starting a family.
“We only seem to do that to the young,” he said. “It just seems unfair.”
Many countries in Europe, especially in Scandinavia, use tax dollars to provide low-cost or free college education to their citizens. But even some of those nations have increased costs in light of recent economic troubles there.
Congress reportedly won’t take any actions on student loan rates until after it returns from vacation next week.