Earlier this summer undergraduate students were left wondering what their fate would be with regards to their student loan interest rate come fall. Rates on new subsidized Stafford loans would double from 3.4% to 6.8% on July 1st because Congress was unable to come to an agreement that satisfied both parties. A Stafford loan is a government student loan that is not credit-based, which helps students pay for their education at accredited schools in the United States.

This change in rates sparked a heated debate in Congress as well as in homes of typical American families hoping to educate their children while attempting to save money. The cost of college alone is exuberant, and some families have argued that the government should be assisting these young people who are investing in their futures by making rates more affordable. The cost of tuition at four-year institutions grew an average 6.7 percent and at two-year schools by 7.4 percent between the 2011-12 and 2012-13 academic years, according to a report published by the National Center for Education Statistics. Both of these rates are far more than the inflation rate. In the past, Congress has attempted to keep the costs of college affordable by proposing certain penalties on states that increase their tuition beyond a certain percentage. An example of a penalty would be withholding federal funds. According to NBC News, the legislation incorporating these types of penalties have in fact never been passed, which is why colleges and universities are able to increase tuition as they see fit.

When the student loan crisis finally reached its peak, the government was forced to intervene. Relief came when a bipartisan bill was passed in the House to link interest rates to the financial markets. President Obama signed the Bipartisan Student Loan Certainty Act of 2013 on August 9, 2013. In all, some 18 million loans will be covered by the legislation, totaling about $106 billion this fall. The congressional budget office estimated the bill would reduce the deficit by $715 million over the next decade, according to The Guardian. For this fall, this legislation means that undergraduates will borrow at a rate of 3.9% for both the subsidized and unsubsidized Stafford loans. It is possible that this is just a temporary as these rates will change annually and thus could rise significantly if the economy improves down the road like it is forecasted to. However, interest rates will never top 8.25% for undergraduates, and 9.5% for graduate students according to the bill. For now, students can rest easy knowing the rate on their federal loan is protected for this school year.

Sources:

http://www.theguardian.com/world/2013/aug/09/student-loan-bill-obama-congress

http://www.nbcnews.com/id/52331102/ns/business-personal_finance/t/rising-us-college-costs-get-scant-attention-loan-rate-debate/

http://www.huffingtonpost.com/2013/08/07/student-loan-interest-rate_n_3719612.html

Lou Ann Wilkes
Mental Health Specialist
Clemson’s Youth Development Center

Often when we contemplate health we focus on our physical health, and maybe even our spiritual health, but tend to forget our mental health. Please be reminded that we are a compilation of our MIND, body and soul. Notably, if all these aspects of our being are not in sync or coherent we are not being our best selves or living our best lives. What is mental health? The World Health Organization explains that mental health is not just the absence of mental disorder. It is defined as a state of well-being in which every individual realizes his or her own potential, can cope with the normal stresses of life, can work productively and fruitfully, and is able to make a contribution to her or his community; [1].

Well firstly, we have to take our minds off autopilot and truly recognize its existence. In our daily lives we need to be mindful and cognizant. Before doing or saying anything… THINK!!! Really take a moment and try to process a situation, analyze options and consider the end results – good or bad – benefits or consequences.

Read: Stop Think Act: Improving Behavior Through Cognitive Intervention By Grisper (2004).

Secondly, love your mind. It is too vital of an organ not to love and care of. Avoid abusing drugs, alcohol and other harmful substances that are not only harmful to your body but detrimental to your mind. Even some of the people we choose to include in our lives may be as harmful to us, in some situations worse than an illegal substance. Don’t allow those around you to poison your mental and emotional well-being. Avoid negativity like the plague and form relationships with those who respect your mindset, who support your dreams and who help/allow you to grow.

Last, but not least, recognize that, just like our bodies, our minds need food, exercise and rest. Our daily tolls – school, families, work, and stressors – deplete our mental energies. To replenish our minds we need to stimulate it. Feed it with good stuff. Take nature walks, read edifying literature, do art and craft, participate in therapeutic recreational activities, listen to music, grow a garden, or find a new hobby.

Stretch, tone and build your mind’s resilience through challenging activities, such as, sports, higher education, DIY projects, adventure, or simply engaging in mentally stimulating activities (Sudoku anyone?). Also, practice healthy ways to relieve stress and seek professional help, when necessary, to cope well with trauma.

Rest is equally essential. Shut down your brain sometimes. Try yoga or some form of meditation to rest and refresh your mind. As author John Saul rightfully said: "The country would be far better if the population were half as interested in keeping their minds in as good condition as they tried to keep their bodies."

 

[1] Mental Health: Strengthening Our Response (Fact sheet N 220) (in English). World Health Organization. Retrieved 29 April 2013.