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Students in America will enjoy lower rates for their student loans in keeping with the spiralling cost of education. In order to support and encourage these students, our government has kept under control loan rates for the next year as well.

With a host of effective and some ineffective policies, the Barack Obama government has strived hard to stabilize our economy. Students have been constantly provided with a backing to ensure that they do not drop out of education that is extremely expensive these days.

Higher education experts and students welcome this initiative by the government to keep rate of loan interests low. Congress has passed a bill restraining doubling of interest rates in keeping with the request of students and their families. Experts feel that this is a vital step towards bringing in more control with respect to rising student loan debt.

Inflation is on the rise and the rate of unemployment is higher than ever in our country. Common people are no more able to afford education. For a great number of students, without reaching out for student debt, it is impossible to think of education that continues to be out of reach.

Seeking higher education is very expensive and education subsidies are provided by the government for education in an effort to retain students in colleges. Stressing on their opinion that debt is not the answer to the current problem; some experts opine that no significant benefit is going to be enjoyed by students by the lowering of student loan interest rates.

They feel that this is nothing but a damage control measure where the issue of student loan debt is not exacerbated. Education today is being financed by debt and people continue to rely on loans as a way of life. A negative aspect is being prevented here. This measure is not going to ensure that colleges are more affordable and accessible to all says the president of Higher Education Policy Institute, Patrick Callan.

If the student loan rates are high, many students are unable to pay them back within the tenure and if the interest rates are high, they are trapped forever. Lowering of interest rates is therefore welcomed by many who feel that this is a positive step that will relieve students of a significant amount of burden.

The on-going economic crisis has resulted in a situation where our education sector is suffering. Many people are unable to reach out for college education due to financial crunch. Naturally, they have started opting for careers that do not require them to have a professional degree.

As you look around, you will find many well qualified people without good jobs forced to reach out for lower wages or remain unemployed. This is because joblessness is on the rise. This grim situation can be dealt with only if the government takes strong initiatives to boost higher education and give it a fresh, new lease of life through implementation of friendly policies.