CHARLOTTE, N.C.–The deal in the works in Washington is good news for students receiving financial aid. If the government defaulted on its debt, there was a possibility new student loans would not have been issued until the debt ceiling was raised. Also, student loan rates would have jumped for future borrowers next summer. The deal in Washington is just buying time; if it goes through, local students worry what will happen in a few months, when the country inches toward the debt ceiling again.
“It’s going to be a hassle, because we don’t know how we’re going to handle it.” says South Charlotte resident Carlos Martinez.
Willis Dennis, of Mallard Creek, says, “If we need to raise the debt ceiling to accomplish those types of things, then they need to go ahead and raise it. It’s not our fault there is a debt ceiling.”
And Yottie Marcus of Hidden Valley adds, “It makes me feel like there’s no hope for us. Can’t you help us out a little bit?”
For students already borrowing, their rates are locked in for the duration of their loan, and wouldn’t have been impacted.
