GOP's Secret $90 Billion Gift to Wall Street by raising cost of student loans

[Revere]

Tuition is the cost that is out of control, either in public or private schools. This doesn't even address that.

There is no guarantee taxpayers, or students will spend less.

And government will limit choices by telling you certain schools don't qualify.

Everything is one big fucking entitlement with you people.

 

[CrusaderFrank]

Both Obamacare and the government takeover of the student loan program should be repealed.

This is unreasonable?

The Republican repeal plan wouldn't just put tens of billions of public dollars in bank coffers. It would also raise the maximum amount a graduate is forced to pay each year from 10 percent to 15 percent of income. And it would extend the length of time before their debt is forgiven from 20 to 25 years.

What are we? France? Greece?

Unreasonable?

Is unreasonable for taxpayers to spend LESS to 'administer' government loans?

Is unreasonable for college students to spend LESS for college loans?

So, because we are America, taxpayers should spend MORE to 'administer' government loans? And, because we are America, college students should spend MORE for college loans?

WHY???

Like we're spending less for Fannie and Freddie right? If you don't count all the losses, government mortgages are a great business!

 

[Pepe]

I cannot find any Enumerated Power within my pocket copy of the Constitution that allows for the Federal Government to help educate anyone's offspring.

Where does it state that Mr & Mrs Pepe are responsible for feeding, clothing and educating the product of someone else's 15 second orgasm?

Sad how "We the People" have produced a Nation of dependent Sheeple.

 

[CrusaderFrank]

History mocks Progressives.

 

[Revere]

How is a claim by a regime that has racked up $3T in debt in two years that it can do something that will cost taxpayers less even credible?

 

[Revere]

Both Obamacare and the government takeover of the student loan program should be repealed.

This is unreasonable?



What are we? France? Greece?

Unreasonable?

Is unreasonable for taxpayers to spend LESS to 'administer' government loans?

Is unreasonable for college students to spend LESS for college loans?

So, because we are America, taxpayers should spend MORE to 'administer' government loans? And, because we are America, college students should spend MORE for college loans?

WHY???

Like we're spending less for Fannie and Freddie right? If you don't count all the losses, government mortgages are a great business!

Exactlly. It's a brand new GSE like Freddie and Fannie. Except this time the taxpayers will get creamed for a subprime student loan program.

 

[CrusaderFrank]

How is a claim by a regime that has racked up $3T in debt in two years that it can do something that will cost taxpayers less even credible?

Here's How:

Hope.

Change.

Wasn't that easy?

 

[CrusaderFrank]

Progressives love government student loans because the plan is if you'll serve the State after graduating they'll make it easier for you to repay your loan

 

[CrusaderFrank]

How did Rome rule the world without government student loans?

How was that even possible?

 

[CrusaderFrank]

Do you know why we have yet to come up with a workable answer to how the Egyptians built Giza?

Because we've left "Government Student Loans" out of the equation!

 

[KissMy]

Unreasonable?

Is unreasonable for taxpayers to spend LESS to 'administer' government loans?

Is unreasonable for college students to spend LESS for college loans?

So, because we are America, taxpayers should spend MORE to 'administer' government loans? And, because we are America, college students should spend MORE for college loans?

WHY???

Like we're spending less for Fannie and Freddie right? If you don't count all the losses, government mortgages are a great business!

Exactlly. It's a brand new GSE like Freddie and Fannie. Except this time the taxpayers will get creamed for a subprime student loan program.

We are already getting creamed by the GSE Sallie Mae student loans. They were giving student loans to bums with a pulse. Who cares if they didn't pay the government was backing them 100%. This is why education cost went through the roof just like housing. Now we have colleges full of liberal arts professors demanding more entitlements.

 

[CrusaderFrank]

There are three 1,500 ton blocks of stone at Baalbek, Lebanon that either the Romans or some prior civilization cut, quarried and transported in single blocks and again, so far, no one can say how it was done, because we have yet to assume that that civilization had a government funded student loan program

 

[Dont Taz Me Bro]

GOP candidates are making a point of running against "bailouts" this year. Yet even as they rail about rescuing big banks, they're working on a plan that would slip those same banks an estimated $90 billion in taxpayer money...and that's just in the first ten years.

"Fiscal conservatism," anyone?

It was always hypocritical to slam a bailout that they and their party initiated. But it turns out they were just warming up. Now they're trying to pull a fast one on the American public, tapping Tea Party rage about big government spending even as they prepare to slip the big bankers some big bucks. They're planning to siphon off $90 billion meant for America's college students and their families and give it to Wall Street.

Any Tea Partier who votes for these guys is being played for a sucker.

The Republican repeal plan wouldn't just put tens of billions of public dollars in bank coffers. It would also raise the maximum amount a graduate is forced to pay each year from 10 percent to 15 percent of income. And it would extend the length of time before their debt is forgiven from 20 to 25 years.

Your GOP: Sending billions in taxpayer money to rich bankers, and squeezing young people starting out in life. Call it the New Populism.

Small government? Less spending? The Republican Party's backdoor bailout of wealthy bankers is bigger than the auto-industry bailout. It's bigger than the home-loan program. It's bigger than the lending program for small businesses. And unlike those programs, it serves no social purpose at all:
More...

I have read the entire Huffington article and I don't see any link in there directing to a credible media publication eluding to what Huffington is saying, so it's difficult for me to comment on this.

I will say this, however. The reason why the cost of college education is spiraling out of control is because students loans are so freely and readily available. Universities will continue to raise their tuition as long as the students are able to continue borrowing more and more and more. The way to bring down the cost of education is to put more restrictions on student loans.

I owe $70k in students loans, by the way.

Furthermore, even if the Republican pass a repeal, Obama will veto it anyway, so what's the big deal?

 

[CrusaderFrank]

How did Brunelleschi build the Duomo? Take a guess?!

Come on!

What did it HAVE to be?

Right! Government funded student loans!

 

[Revere]

Like we're spending less for Fannie and Freddie right? If you don't count all the losses, government mortgages are a great business!

Exactlly. It's a brand new GSE like Freddie and Fannie. Except this time the taxpayers will get creamed for a subprime student loan program.

We are already getting creamed by the GSE Sallie Mae student loans. They were giving student loans to bums with a pulse. Who cares if they didn't pay the government was backing them 100%. This is why education cost went through the roof just like housing. Now we have colleges full of liberal arts professors demanding more entitlements.

That's not going to change by throwing banks out of the equation.

Same with health care and private insurance.

It's the utilization, not the administration, which is driving costs.

 

[CrusaderFrank]

Look at our Founding Fathers, Washington, Adams, Jefferson and Franklin. You know how they got smart enough to found a country?

Right!

The British gave them student loans!

 

[CrusaderFrank]

Do you know what held Einstein back?

The Germans did not have a Student loan program!

 

[Bfgrn]

Tuition is the cost that is out of control, either in public or private schools. This doesn't even address that.

There is no guarantee taxpayers, or students will spend less.

And government will limit choices by telling you certain schools don't qualify.

Everything is one big fucking entitlement with you people.

Well, if lowering the taxpayer's cost of school loans by eliminating waste and eliminating a 'middle man' is STILL entitlement, then the only 'solution' is to end school loans. We Americans don't need to compete in the world market. We are America.

The entitlement being ELIMINATED in the Education Reconciliation Act is the government subsidy to banks.

You right wingers have NO problem when THAT form of 'entitlement'

 

[KissMy]

Exactlly. It's a brand new GSE like Freddie and Fannie. Except this time the taxpayers will get creamed for a subprime student loan program.

We are already getting creamed by the GSE Sallie Mae student loans. They were giving student loans to bums with a pulse. Who cares if they didn't pay the government was backing them 100%. This is why education cost went through the roof just like housing. Now we have colleges full of liberal arts professors demanding more entitlements.

That's not going to change by throwing banks out of the equation.

Same with health care and private insurance.

It's the utilization, not the administration, which is driving costs.

It is fine if banks are lending their own money, But if allowed to lend government backed money all hell will break loose. This is what brought us to ruin & it was backed by Democrats. Banks are extremely efficient at lending to anyone willing to sign regardless of credit standards when it is not their money on the line. They get paid by how many loans they make regardless of quality. This is worse than communism.

 

[Bfgrn]

How did Brunelleschi build the Duomo? Take a guess?!

Come on!

What did it HAVE to be?

Right! Government funded student loans!

SLAVE labor you fucking ignorant MORON.