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Sanders doesn't think it makes sense for "students to pay a higher interest rate for college loans than people pay on mortgages and car loans."
First, Mr. Sanders, student loan rates are running around 5%, so they're hardly exorbitant.
Second, Mr. Sanders, home loans and car loans are secured loans. The lender can repossess the home or the car if payment isn't made. Student loans typically are unsecured by any collateral. Please note that the other major form of unsecured debt, credit card debt, typically carries a much higher rate of interest than student loans do, and I don't hear you crying that student loans are NOT charged at credit card rates?
Third, there is no "special" logical relationship between home rates and auto rates, between auto rates and credit card rates, between credit card rates and the coupon on bonds, etc., except in the very broad sense that different interest rates roughly tend to move up or down together in conjunction with movements in the prime rate, economic conditions, etc. In other words, there's no logic that says "Because rates for X are such and so, rates for Y should be this-and-that".
Now you know why you were handed your hat when you said this, Bernie. Of course, it's nothing new for you, is it?
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