Congress should be fired... period. ALL OF THEM

If Congress approves an increase on Student Loan rates this session, they should all be fired.... period. ALL OF THEM. It makes no sense, there is no rhyme or reason to it. The banks were all lent money by the government at little or no interest. The current fed rate is between 0.0 and .25%. I won't get into the specifics of the fed funds rate. A simple explanation is that it is the rate at which banks borrow from each other. The prime rate is 3.25% and Congress is proposing raising student loan interest rates to 7.6%. At a time when many young people have astronomical student loan debt, bleak job prospects, it seems wise to these guys to raise the student loan interest rate? Yes student's took these loans knowing they would have to pay them back. But you have to be kidding me if you think Major banks are cleaner actors in our economy than students taking loans to get an education... Just my rant for the day. Obviously I am personally effected by student loans and this whole fiasco is frightening, disheartening, and pathetic.

Oh and another side note while we are at it. Did you know that any of you single individuals that make over 80K are more than likely, not going to be able to get any tax deduction for your student loan interest payments.