» Although that number has dropped from 2011 — by 7% according to the Department of Education — an increasing number of parents are taking out loans for their childrens’ pre-college education. Your Tuition Solution, a market leader, reports that loan requests are up 10% from 2011, with their average loan size up to $14,000. Roughly 20% of the new demand for loans comes from families making $150,000 or more, according to the National Association of Independent Schools. Loans repayment periods can range from 2-7 years, carry interest rates anywhere from 4-20%, and in some cases don’t have to be paid until the student graduates college. Of course, that route leaves parents paying for grades K-12 and college simultaneously.
The single most significant thing we can do is have the best educated population in the world. It literally is the thing, the key that leads to everything else from our economic security to our physical security.Vice President Joe Biden • Speaking at Florida State University about America’s education. Biden said in his speech that he wants to make education in America more affordable, citing his own experience with higher education, in which his father was initially denied for a loan. Biden ended up going anyway, eventually getting a bachelor’s degree from the University of Delaware, a law degree from Syracuse and a spot in the White House. Biden says the Obama administration won’t waver from its goal of providing better education, while at the same time making it more affordable for more parts of society. Biden’s a bit up against it, though: His visit to Florida comes as the state legislature plans to vote on statewide tuition hikes. source (via • follow)