STUDENT loans are now a convenient medium to rock your way through college. This is so because of recent events in the economic arena that has rocked the United States. Actually, in every tragedy, there is something good that comes out of it. Because everybody is afraid of a looming recession in the country, the Bush administration has submitted to Congress an economic stimulus package that does not just concern the subprime woes but also the whole economic aspects of a typical American household life. And that includes education of course.

And the economic stimulus package has just been signed into law by President Bush himself. Part of the provision in the package is making all federal and private educational loan lenders compulsory to raise their student loan package ceiling. Isn’t that lovely? I do not know the specific amount though but for sure, the what is now dubbed as jumbo student loans are roughly equivalent to the jumbo housing mortgage loans that are now allowed in the housing industry. To give you a clear picture of what this is, a typical housing mortgage loan ceiling in the United States prior to the passing of the economic stimulus package is capped at $200,000. With the passage of the bill into law, the ceiling is now pegged at $700,000 or roughly 150 percent. That is also the same percentage increase that a college enrollee or student can avail in his student loans. There is no extension of loan payments though. It will be at 30 years only.

There is a story behind the insertion of raising the student loans ceiling. President Bush himself only wanted the tax breaks demanded by his constituents all over the United States as well as the ceiling for the housing loans. But his educational advisers have gotten a closer inspection of the drafted proposal to Congress and told him to insert the provision for the expansion of the ceiling for student loans too because a lot of high school graduates cannot afford to go to college. That is why the provision for the expansion of student loan ceiling is there. And that, ladies and gentlemen, is a blessing in disguise.

Take advantage of this blessing whether you believe in divinity or not. This is one sure shot to success. If you are just diligent enough, you can surely snake your way to college. Success is individual and should not be entrusted to anyone else. It doesn’t matter whether you’ll be studying at Georgetown or just at Laredo Community College; as long as you have graduated even with only average grades or bordering on passing marks, you will surely be successful. There are working spots for you one way or the other. And remember that student loans aren’t just offered prior to the start of your first semester in college. You can actually take advantage of them even when you’re graduating already.