Obama to sign new student aid initiative

[Modbert]

Do you attend school? Do you absorb any of what is taught? From reading the above it is hard to believe that you attend and absorb.

I assuming you're having a pitiful attempt at being a Grammar Nazi? Which would be laughable considering how poorly constructed your posts are at times.

 

[American Horse]

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

Have you ever wondered why college inflation is worse than health insurance inflation?

not dogshit, he never wonders about anything. ever.

The congress (along with the president have rolled the college education loan program already passed last October into the healthcare bill for the purpose of helping the healthcare bill show savings to the annual deficit. They are now claiming $65-billion over a period of 10 years. That’s just $6.5 billion a year. Consider that is only about one one-thousandth of next year's federal budget The intent is to use the calculated savings from it to help the healthcare bill make a better show of savings.

Shouldn’t we be suspicious why they would want virtually everyone seeking aid for a college education to have to go to the government to get their financial aid? Isn’t it obvious that that situation promotes influencing educational priorities, choices, and the selection of career fields by applicants....or even a government bureaucracy (part of the Party of Government) deciding who will get such aid in the future? Can anyone imagine a 'yes' to loans to Democrats, and a 'no' to loans to Republicans?

In an article in the WSJ (September 2009) titled Obama Plans Government Takeover of Student Loans - WSJ.com and subtitled “Congratulations. You are about to own 100 billion a year in student loans”

“ “ Democrats have claimed their plan "saves" $87 billion in mandatory spending by cutting out the private middlemen, and the Congressional Budget Office has dutifully "scored" $87 billion in mandatory "savings" (or a net of $80 billion after subtracting administrative costs).
But in a remarkable letter to Senator Judd Gregg, CBO Director Douglas Elmendorf admits that government accounting is bogus. He writes that the statutory methodology "does not include the cost to the government stemming from the risk that the cash flows may be less than the amount projected (that is, that defaults could be higher than projected)." Mr. Elmendorf further notes that the government's accounting system is specifically skewed to make direct loans from the government appear to cost much less than guaranteed loans made by private lenders. He says the real "savings" are only $47 billion, even though, in a deception that would be criminal fraud if it weren't mandated by Congress, the official estimate remains at [this time at] $80 billion.

Even the unofficial number is dubious. The government has been claiming lower default rates than private lenders, but most government loans have been to students at four-year colleges. The private lenders have serviced a higher percentage of students at community and two-year colleges, where defaults are more common regardless of lender.

If the feds are now making and owning all such loans, expect default rates to soar. When the government hires contractors to collect on its loans, it pays them for simply calling the borrower, regardless of the result. Private lenders, on the other hand, make money from a performing loan and have a greater incentive to do careful underwriting and aggressive collection.

The government will start spending these illusory "savings" immediately, and the spending is sure to be more than the imagined savings. The Obama plan also adds a CBO-estimated $46 billion in new spending over 10 years to enlarge Pell grants. Ominously for the federal fisc, starting in 2011 these grants will automatically rise each year by the consumer price index plus 1%. Not that students will actually benefit from this subsidy explosion. Colleges have reliably raised prices to capture every federal dollar ear-marked for education financing. " "

 

[WillowTree]

Do you attend school? Do you absorb any of what is taught? From reading the above it is hard to believe that you attend and absorb.

I assuming you're having a pitiful attempt at being a Grammar Nazi? Which would be laughable considering how poorly constructed your posts are at times.

what a waste of taxpayer money. in college, can't write, connot construct, and cannot spell.. whoooooooooooopeeeedawg.

 

[Modbert]

what a waste of taxpayer money. in college, can't write, connot construct, and cannot spell.. whoooooooooooopeeeedawg.

Actually, I can. Sadly, it seems you were one of those who fell through the cracks.

 

[WillowTree]

what a waste of taxpayer money. in college, can't write, connot construct, and cannot spell.. whoooooooooooopeeeedawg.

Actually, I can. Sadly, it seems you were one of those who fell through the cracks.

good for laughs but no, you cannot.

 

[Modbert]

good for laughs but no, you cannot.

You keep telling yourself that Willow.

 

[WillowTree]

good for laughs but no, you cannot.

You keep telling yourself that Willow.

If you keep your sentences down to less than four words you will be successful... "the middleman which" is a middle man a "whcih" or a "who"??

 

[Modbert]

If you keep your sentences down to less than four words you will be successful... "the middleman which" is a middle man a "whcih" or a "who"??

Again, keep trying to be a grammar nazi. You make twice the errors I do if not triple.

I come here to post my thoughts on various topics, not write essays. I could run everything I post through a spellchecker, but it is worth neither my time or effort. My point is still getting across at the end of the day.

 

[WillowTree]

If you keep your sentences down to less than four words you will be successful... "the middleman which" is a middle man a "whcih" or a "who"??

Again, keep trying to be a grammar nazi. You make twice the errors I do if not triple.

I come here to post my thoughts on various topics, not write essays. I could run everything I post through a spellchecker, but it is worth neither my time or effort. My point is still getting across at the end of the day.

spell checker won't do you much good. you need a little remedial help in composition and syntax.. maybe less time on the internet and more time with the books..

 

[Modbert]

spell checker won't do you much good. you need a little remedial help in composition and syntax.. maybe less time on the internet and more time with the books..

More talking out of your ass. You have no idea how many books I read a year.

 

[Dr Gregg]

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

Have you ever wondered why college inflation is worse than health insurance inflation?

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?

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

That's completely ridiculous.

 

[Dr Gregg]

The troll managed to hijack yet another thread with partisan hack nonsense, jesus christ. Down with education!!!!

 

[WillowTree]

spell checker won't do you much good. you need a little remedial help in composition and syntax.. maybe less time on the internet and more time with the books..

More talking out of your ass. You have no idea how many books I read a year.

can't write one though.. the editors would croak. wasted days and wasted nights.

 

[Dr Gregg]

Government is not and should never be your private lending institution... more bullshit from our power hungry government

These student loans were coming from the government to begin with.

And I don't agree with the fact that it has been that way... we should be out of that all together... what next, government auto loans? Government 'education' loans so you can go to stripper school?

Why? So on top of getting raped on interest on CC and other stuff, lets get raped by the private companies over student loans? the gov't wants a college educated workforce, hence why the offering of low interest loans, which even with low interest can lead to a lot of interest being paid.

 

[Defiant1]

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?

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

That's completely ridiculous.

What's ridiculous is using money stolen from someone because you can't afford it yourself.

 

[Dr Gregg]

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

That's completely ridiculous.

What's ridiculous is using money stolen from someone because you can't afford it yourself.

"stolen"?. It's called a loan, you pay it back.

 

[RodISHI]

And because it's difficult, mommy government has to come and provide it for you?? There are other ways... tuition reimbursement from a job... co-op programs... taking time off of school while you actually save for your needed monies for paying for it..

I got a decent interest rate on my education loans because I did what I had to do, worked, and paid a whopping 5% or so on a HELOC instead of getting some student loan... used tuition reimbursement, GI Bill, and my own savings for all the classes I took... and it was a great incentive to do it right because it was my money and my ass on the line

Okay asshole, what the fuck do you not understand about the concept of a loan? Stop calling me a damn deadbeat, because I'm going to pay it back in full.

My ass is still on the line, and it's still my money I'm going to have to pay back eventually.

Unless of course you choose an Obama aproved job and then you get any remaining debt forgiven after just 10 years. I'd like to know though, how it can be considered constitutional for the government to forgive some loans and yet not others?

Doctors that meet certain criteria previously could have their student loans forgiven. Our family doctor got through medical school on this program. In order to meet the obligation he had to work in a poor rural area for ten or fifteen years in order for the loan to be forgiven.

 

[Vel]

Okay asshole, what the fuck do you not understand about the concept of a loan? Stop calling me a damn deadbeat, because I'm going to pay it back in full.

My ass is still on the line, and it's still my money I'm going to have to pay back eventually.

Unless of course you choose an Obama aproved job and then you get any remaining debt forgiven after just 10 years. I'd like to know though, how it can be considered constitutional for the government to forgive some loans and yet not others?

Doctors that meet certain criteria previously could have their student loans forgiven. Our family doctor got through medical school on this program. In order to meet the obligation he had to work in a poor rural area for ten or fifteen years in order for the loan to be forgiven.

That type of program is fine and really isn't having debt "forgiven". The docs actually work their debt off. What Obama has been talking seems to simply be based on what type of profession you choose.

 

[DiamondDave]

These student loans were coming from the government to begin with.

And I don't agree with the fact that it has been that way... we should be out of that all together... what next, government auto loans? Government 'education' loans so you can go to stripper school?

Why? So on top of getting raped on interest on CC and other stuff, lets get raped by the private companies over student loans? the gov't wants a college educated workforce, hence why the offering of low interest loans, which even with low interest can lead to a lot of interest being paid.

Because the government is not supposed to be your private lender.... you need a loan, qualify for it with your actions and history being the reasons behind the rates and amounts you can get

Yet another nanny state supporter... who loves the principle of riding on the backs of others and the government

 

[rightwinger]

And I don't agree with the fact that it has been that way... we should be out of that all together... what next, government auto loans? Government 'education' loans so you can go to stripper school?

Why? So on top of getting raped on interest on CC and other stuff, lets get raped by the private companies over student loans? the gov't wants a college educated workforce, hence why the offering of low interest loans, which even with low interest can lead to a lot of interest being paid.

Because the government is not supposed to be your private lender.... you need a loan, qualify for it with your actions and history being the reasons behind the rates and amounts you can get

Yet another nanny state supporter... who loves the principle of riding on the backs of others and the government

Other than your opinion, where does it say the Government is not supposed to be a private lender?