What the $$$$ Just Happened to My Student Loans?!!

Paying for college is tough enough, but have you heard about the recent hikes in interest rates for student loans? Read on to find out how this affects you as either a current student or someone in repayment, plus how government officials plan to resolve the issue of crippling student debt.

As of yesterday, Stafford Loan interest rates doubled from 3.4% to 6.8%. Congress did not pass an alternative measure before the July 4th break, which will end at 2:00pm on Monday, July 8th. However, it still has the option to pass a measure that will retroactively affect the rise in interest rates, altering the Stafford Loan rates for this year’s students and perhaps others. This article will outline a few of the options Congress faces, what changes may be made, and how those changes might affect students with Stafford Loans.

Student Loans Crippling Many

Protestors advocate against increased interest rates.

What is a Stafford Loan and how does it work?

Stafford Loans are the most common kind of federal student loans available. They are available to students at accredited institutions

in the United States, a category to which most colleges and universities in the United States pertain. Stafford Loans can be either subsidized or unsubsidized. Of these, subsidized loans tend to have lower interest rates, and the federal government pays the interest that the loans accrue. Contrastingly, the interest that accumulates on unsubsidized Stafford Loans is capitalized, meaning that it is added to the part of the loan on which interest is paid.

Subsidized Stafford Loans are available to those who demonstrate financial need via the Free Application for Federal Student Aid (FAFSA) form, which must be renewed each year a student wishes to apply. Unsubsidized Stafford Loans are available to all students who meet the Stafford Loan requirements, which can be found here.

In addition to Stafford Loans, the government gives out PLUS Loans, which are unsubsidized loans and in the past have had higher interest rates than Stafford Loans. PLUS Loans are available to graduate students and parents of students.

The Option Proposed by President Obama:

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What are Prop 8 and DOMA and Why Do They Matter?

This week, as the Supreme Court released its rulings on a variety of different issues, supporters of same-sex marriage were particularly anxious to hear an important piece of news: the Court’s ruling on the Defense of Marriage Act (DOMA) and California’s Proposition 8.

What is the Defense of Marriage Act (DOMA)?

The Defense of Marriage Act is a federal law that restricts federal marriage rights to opposite-sex couples. It was enacted on September 21, 1996 under the Clinton administration, though Clinton, among others who were involved in the law’s enactment, has since changed his position and advocated for its repeal.

Supreme Court deems DOMA unconstitutional

Supreme Court deems DOMA unconstitutional

The law’s exact wording on the issue of marriage is as follows:
“In determining the meaning of any Act of Congress, or of any  ruling, regulation, or interpretation of the various administrative  bureaus and agencies of the United States, the word `marriage’ means  only a legal union between one man and one woman as husband and wife,  and the word `spouse’ refers only to a person of the opposite sex who is  a husband or a wife.” (Defense of Marriage Act)

Among others, these are the benefits that have been denied to same-sex marriages under the Defense of Marriage Act:

  • Insurance benefits for government employees
  • Social Security survivors’ benefits
  • Immigration benefits
  • Joint tax return benefits

What is Prop. 8?

Prop. 8, or California Proposition 8, is a ballot proposition passed in California’s November 2008 elections. Much like DOMA, it declares that only opposite-sex marriages may be recognized by the state of California. The proposition effectively overturns a California Supreme Court ruling released in May of 2008 that found marriage to be a fundamental constitutional right that should be granted to all couples. The timeline of same-sex marriage history in California is shown below:

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Who is Edward Snowden and What Did He Do?

Some information for students (from a fellow student) to keep you up to date with this complicated current affair.

There’s been a lot of talk going around about Edward Snowden and his disclosure of NSA information, but with the amount of commentary in the media, it’s difficult to figure out even some basic information. The purpose of this post is to answer some of the basic questions revolving around Snowden and the NSA.

Who is Edward Snowden?

Born on June 21, 1983 in Wilmington, North Carolina, Edward Joseph Snowden is soon to be thirty years old. He studied computing at Anne Arundel Community College, but illness left him unable to complete his coursework, leaving him without a high school diploma until the later completion of his GED. In 2011, he participated in an online program, working towards a Masters Degree with the University of Liverpool. Seven years earlier, in 2004, Snowden had enlisted in the US Army as a Special Forces recruit, but according to his own reports, was discharged four months later after breaking both his legs in a training accident.

edwardSnowden

Snowden during an interview with Poitras and Greenwald.

Snowden’s former positions include (in the order he held them):

·      Working for the NSA, he was a security guard for the Center for the Advanced Study of Language, a covert center.

·      He worked for the CIA in IT Security.

·      According to his own reports, the CIA placed Snowden in Geneva under diplomatic cover in 2007, where he oversaw network security.

·      He reports leaving the CIA to work for a private contractor inside a US military base in Japan for the NSA.

·      Until recently, Snowden held a position as a system administrator inside the NSA for consulting company Booz Allen Hamilton in Hawaii. He held this position for under three months and was fired on June 10th after his media disclosures.

What did Snowden disclose?

Through the disclosure of documents and an arranged meeting in Hong Kong with reporter Glen Greenwald, of The Guardian, and documentary filmmaker Laura Poitras, Snowden revealed the following pieces of information:

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