Sunday, August 11, 2013

Private Education Loans Co-Signed by Military Veterans Should Also Have a Maximum Interest Rate Charged

Presently, due to wise action by the US Congress, there is a maximum interest rate of 6% that can be charged on private education loans for a student who has served in the US military.

Especially given the enormous net interest margins private institutions are now making on their private student education loans, I think it only makes sense that there should be the same maximum interest rate charged on any student loan which is co-signed by a parent or a grandparent who are US military veterans.

The US Government seems to have a much keener interest in keeping its present military happy than it does in giving its military veterans their just due.....just look at the incredible backlog on disability claims at the VA.  The above proposal would be a step in the right direction.