Student loan increase matters a latte
07/01/2014 11:07 AM
07/03/2014 3:16 AM
Re "Interest rates on student loans going up today" (Business, July 1): Kimberly Hefling of The Associated Press reports "For every $10,000 borrowed, the average borrower under the hike will pay back about $4 more every month when they begin paying back the money- about the price of a latte."
My wife and I have kids who recently graduated, are currently going or hope to be going to college. We don't drink lattes, but we do help pay back student loans. From what I've read, students average about $20,000 in debt when they graduate. On the 29th you published a story highlighting that Kentucky's public colleges have increased 110 percent over the last decade. I'm sure California increases are similar.
To infer that keeping up with rising college costs is just a matter of skipping a few coffee treats is irresponsible. Maybe Hefling will send me her Starbucks card.
-- John Tillotson, Placerville
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