While I often extol the virtues of such things as socialized basic medical coverage, there are some things that capitalism does infinitely better. One of those things is student loans.
Jeremy and I have two American student loans, and three Canadian student loans. I am in the process of trying to organize all of these loans and get the payments caught up so that our credit ratings don't die a horrible, painful death. Yesterday, I drew up a little chart of all our loans and interest rates and monthly payments (well, most of them, my Canadian lines of credit have yet to be figured in). Jeremy's subsidized US loan has fixed rate at 4.25%. But my Canadian student loan, the one that is government sponsored and subsidized, has a variable rate that is currently at 8.0%! That loan ALONE is costing me $6 A DAY in interest! (Not to mention the fact that a Canadian dollar now costs me $0.88 US, when it used to cost me $0.66, so I am spending almost an extra quarter on every Canadian dollar I buy.)
It's frustrating to sit down and calculate how much my education has set us back. For all of my frugal living and more-with-less cooking and thrift store shopping, I am spending the equivalent of eating a meal out every day just on the interest on my student loans. I'm starting to think that going to law school was the most irresponsible thing I have ever done with my life.