Stop trying to "help" us Obama!

I am growing increasingly infuriated with the stupidity of our government. I feel like we're part of some advertising campaign targeted at people who don't understand that "lower payments" doesn't mean less money in the long run! It's like extending the life of a loan to make smaller monthly payments only you end up paying thousands of dollars more in the long run for it! I get that most people live day to day or week to week, but somebody has to put an end to this cycle and start thinking about the long-run! Capping our monthly payments to 10% of our income may help a few people who struggle to make ends in the short run, but it kills you when interest is still accruing on your loans! All it is doing is making you owe more in the end...and "more" is a lot- it's a house or a car in some cases! The income based repayment program permits forgiveness after 25 years, but you are TAXED on the forgiveness! Seriously- if you can't afford to make normal monthly payments, how on earth are you going to be able to pay taxes on forgiveness that could total over $100,000????? Our problem is interest rates and people who don't explain what it means to take out loans! These interest rates need to be lowered back to the market rates with a cap! There is no reason struggling students and former students should be paying 6.8 and 8.5% on student loans! Write your representatives and tell them that they need to lower the interest rates back to the market rate with a cap...do you have any idea how much money you save with a few percentage points of interest? In my case we're talking a very sizable upgrade in buying a home...a HOME! You all just saw what happened in Massachusetts, and that means that your rep should be a little more willing to listen! I BEG of you...please contact your representatives about this. If you need a sample letter to send them please let me know-I'll be happy to give it to you! It is not going to help the middle class if we just increase the amount of money we have to pay back...if the government is going to get involved, it needs to be in a way that helps us to pay these loans back without having to forgo having a family or a home in the process! And while I'm at it- how about making all student loan interest paid in a year deductible...not just a measly little $2500. If people who can't afford to buy homes get to deduct the interest they pay on mortgages...at least up to an amount that is far higher than what you take out on student loans. Oh and I'm not just blaming Obama! We can thank the 2002 Congress for changing the way we determined interest rates for student loans!