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A comment on American Students Know Almost Nothing About Their College Loans. Parent comment

Re:American Students Know Almost Nothing About Their College... by unprepare on Thursday February 04, 2016 @07:35AM (#11033558)
Congress sets the rate for federal student loans, they are not based on their risk.
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Re:American Students Know Almost Nothing About Their College... by unprepare on Thursday February 04, 2016 @10:43AM (#11034638)
To whomever is downvoting my comment:

>Rather, pricing and loan limits are politically determined by Congress

https://en.wikipedia.org/wiki/Student_loans_in_the_United_St...

>Who sets interest rates for federal student loans?

>Interest rates on federal student loans are set by Congress.

https://studentaid.ed.gov/sa/types/loans/interest-rates

Also, there have been several bills proposed to congress to lower the loan rates, and to allow refinancing of existing loan rates. Anyone saying federal loan rates are determined by some actuary calculating risk is plainly wrong.

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