Obama to sign new student aid initiative

Discussion in 'Politics' started by Modbert, Mar 30, 2010.

  1. Modbert
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    Modbert Daydream Believer Supporting Member

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    Obama to sign new student aid initiative | Reuters

    Let's recap:

    1.) Middlemen bankers are cut out, a federal program is now being once again run by the federal government.

    2.) Student loan payments are capped at 10%.

    3.) Save $68 Billion over 10 years.

    4.) Expand the Federal Pell Grant Program

    5.) It's approved by the majority of Americans.

    Now I understand the Republicans especially are complaining about governmental takeover. But how exactly can the government take over a program that is both funded and run by the government? I'm not exactly catching that logic.

    As someone who gets both student loans and pell grants to pay for my education, I have no problem with this.

    What say you USMB?
     
  2. WillowTree
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    WillowTree Diamond Member

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    lol 10% interest,, that's a damn fine deal.. don't take it. shit,, you can buy a car for zero percent.
     
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  3. Modbert
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    Modbert Daydream Believer Supporting Member

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    No, it will be capped at 10%. As in, it cannot go any higher than 10%.
     
  4. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Great! Go into debt to the Feds for an overpriced education.

    Have you ever wondered why college inflation is worse than health insurance inflation?
     
  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Here's a little clue.

    It will be raised to 10% very quickly as the federal deficit worsens. The Treasury auctions are already requiring higher interest rates. Other rates will follow suit.
     
  6. Modbert
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    Modbert Daydream Believer Supporting Member

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    Uh? Are you on drugs?

    You do realize that I would be going into debt with student loans either way. All this does is cut out the middle man. And I may be able to get rid of one of my loans if my federal pell grant increases.

    This is good news for people like me.

    You're not going to try and ignorantly tell a college student AGAIN how the 2010 college life and experience is are you?
     
  7. WillowTree
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    WillowTree Diamond Member

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    not dogshit, he never wonders about anything. ever.
     
  8. WillowTree
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    WillowTree Diamond Member

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    :lol::lol: don't give him any clues, I likes em dumb..
     
  9. Defiant1
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    Defiant1 Gold Member

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    If you don't have the money or didn't get a scholarship, get a job until you can afford a college education.
     
  10. Si modo
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    Si modo Diamond Member

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    Yippee! The government controls another chunk of the economy!

    :rolleyes:
     

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