The answer to the above question is it depends.  Financially, may be yes!  When we started this site, the US student loans were about $1.3 trillion and now it is $1.5 trillion.  Meaning more Americans, especially the younger generation carries more debts these days, compared to those previous generations.  For detail, please click here.

This implies that younger folks in the US are less independent financially these days.  Those who are interested in the subject matters can relate well the student loans increase with many financial variables/factors such as the players, the interest rates, higher ed management and other macro economics factors.  One thing is interesting and worth mentioning is that the federal charges higher student loans interest compared to what the commercial financial institutions are able to offer.  For example, the federal student loans agency charged between 7 to 8% APR, while commercial financial institutions are able to offer below 4%.  As results, refinance student loans businesses are blooming.  It is good for several reasons.  One, the student loans takers can refinance their loans with a cheaper interest rate.  Also, it generate new business/industry/service which may help reducing the US unemployment rate..

On this Independent Day and the upcoming mid-term election, the information above is perhaps, relevant, valuable and useful for the American voters to elect person(s), who will represent their best interests.  Looking at the interest rate alone, a logical person could make a reference if her or his interest has been represented well by the person(s) that they have elected in the past.  Happy 4th!