OUR TIME DAILY TRANSLATION
We've heard you say it many times: "Politics is like a foreign language." Well, we agree.
Each week, we summarize, simplify, and interpret different major news stories and how they affect our generation. We'll give you our take, and you can decide for yourself.
NEW RULES ABOUT STUDENT LOANS
THE FACTS
o The extension of low student loan interest rates comes with a few changes in eligibility:
• Students enrolling in college for the first time after July 1, 2012 must have a high school diploma or a GED to be eligible for federal student aid.
• Students can only use Pell grants for 12, rather than 18, semesters.
• Subsidized loans will accrue interest during the 6-month grace period after students leave school.
WHY WE SHOULD CARE
o Extending low interest rates for one year carries a $6 billion price tag. As the government continues to debate the best way to fund student aid, it may further alter Pell Grants.
OUR TIME OPINION
We need a lasting plan to fund federal student loans. Otherwise, we may find ourselves with a severely limited federal student grant program.
