Obamacare STUDENT LOAN STUPIDITY!!!

Discussion in 'Politics' started by GHook93, Mar 11, 2011.

  1. GHook93
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    GHook93 Aristotle

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    I decided to look into today to consolidating my student loans, because after looking at some of the interest rates. I have some low ones at 2.47 and some high ones at 8.5. My current lender said that they can't consolidate anymore (neither can any private company in the country either), so you have to go to the department of education.

    In the past, before Obamacare, you would go to your lender (or another lender) consolidate your loans, get a lower rate and a better term. You would shop around, like you do with mortgages, credit cards, auto loans etc.! That is what it used to be!!!

    NOT anymore with the Obamaloanstore. What they do now is take a weighted average of your student loans interest rates and give you a weighted average (interest rate (meaning they take the average and then raise it a little). OK, so if I go in with a 2.47 and 8.50. The average is 5.49, then they add on to that and get it to 6.49. That is a deal only a liberal could like. Say I go in with four 8.5% loans, I get a 9.5%! So where is the benefit? The answer? There is none. ZERO!!! This is the only place you can go to for consolidation! THEY GAVE THE FEDERAL GOVERNMENT A MONOPLY AND A LICENSE TO FUCK PEOPLE! Obama is a fucking moron!

    He federalize the student loan market and trying to say its a better. Really students are now snow-job! They can't consolidate. They can't get a better rate or payment. There are no options! NONE. I am suck paying a 8.5% when rates are at there lowest point in HISTORY! WTF!

    Great question would be at this point, is why is a healthcare law making the worst and most drastic change to student loans! :cuckoo:
     
  2. GHook93
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    GHook93 Aristotle

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    The more and more you look into Obamination care the worse and worse it looks. The only good thing is it gets rid of preexisting condition (in 2014)! This bill is one of the worst in history!
     
  3. G.T.
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    G.T. Gold Member

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    I'll bet it works exactly as you say it does.
     
  4. gekaap
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    gekaap BANNED

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    Anything to actually back up the claims of this scenario?
     
  5. beowolfe
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    beowolfe Senior Member

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    you have to love youngsters (and I'm assuming your a youngster). Before the GOP farmed out student loans to the private sector increasing their cost to the students, you didn't have to go through any of this. The feds loaned you the money and you paid them back. Simple. No interest required, because your becoming an educated working tax payer is how the government earned it's interest.
     
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  6. rightwinger
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    rightwinger Paid Messageboard Poster Supporting Member

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    What does this have to do with Health Care Reform?
     
  7. DiamondDave
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    DiamondDave Army Vet

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    Government is not there to take care of your personal responsibility... whether it is 'simple' or not

    Adults should bear the burden of the costs of things they want
     
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  8. GHook93
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    GHook93 Aristotle

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    I understand its important to be skeptical. Give it a try, it will take 3-4 minutes. The website and number are below. See for yourself.

    Good questions to ask: What interest rate will I get? Who else can consolidate loans? If I have four loans 3 with 2.47% and one with 8.5% what will my rate be!

    Direct Loans—Call/Write Us

    Direct consolidation loans
    Phone: (800) 557-7392
    FAX: (800) 557-7396
    TDD: (800) 557-7395
    E-mail: loan_consolidation@mail.eds.com
    Or go to the Direct Loan Consolidation website
     
  9. GHook93
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    GHook93 Aristotle

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  10. GHook93
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    GHook93 Aristotle

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    I wish that was the case now, but it's not.

    Right now we have lack of competition, so the rates are very high. From a private lender I got 2.47 on most of my loans. They are higher now for anyone taking out a student loan, regardless of historically low rates.

    And you guest wrong on me being a youngster (my loans are post grad education). Back in undergrad I would have been on Mr. S, Ravi and the other clueless liberals side. Glad I grew up!
     
    Last edited: Mar 11, 2011
  11. Mr. Shaman
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    Mr. Shaman Senior Member

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    Yeah, when.....like Medicare D....the Federal Government guarantee$ everyone profitable-participation!!!!

    (Lemme guess....you're not a Business Major, right??)

    [​IMG]
     
    Last edited: Mar 11, 2011
  12. GHook93
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    GHook93 Aristotle

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    Good question good question indeed!

    This student loan reform was part of the Obamination bill. It was written directly into the bill.
     
  13. kiwiman127
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    kiwiman127 Comfortably Moderate Supporting Member

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    Another swipe at the working class! If things followed your path, no one who didn't come from money would have a chance at a higher education.
    Why do some people want America to be just plain uneducated and unable to compete in the international economy?
    Also, way to address Beowolfe 100% accurate statement that the GOP are the ones who really screwed things up regarding student loans.
     
  14. Mini 14
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    Mini 14 Senior Member

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    Yes, it was. How quickly they forget, huh?
     
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  15. GHook93
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    GHook93 Aristotle

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    I asked the same thing a while back when all my private student loan consolidation customer were going out of business. Education Direct, Next Student etc. These guys spent over $100K annually with me. They were gone nearly over night. I said "when was this bill passed?" The answer, "It was part of Obamacare." My reply,"What the hell does student loans have to do with healthcare!"
     
  16. DiamondDave
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    How is it a swipe at the working class to call for personal responsibility for the expenses of ones own wants and needs?

    Explain why you are owed something from government or others for simply existing? Whether it be an entitlement or loan...

    Nobody wants America to be uneducated... simply for you to work and pay for the education you want as an adult... whether it be thru your own savings, family help, loans, work benefit compensation, military GI Bill or college fund, or whatever else.... but the key is that it is YOUR responsibility to get it thru your own means and it is not anyone's responsibility to simply have it owed to you (as a government program makes it)
     
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  17. Mr. Shaman
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    Mr. Shaman Senior Member

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    O.K., Loudmouth....what else are you whining-about??

    I'm guessin' your response is gonna be like any other "conservative".....

    [​IMG]
     
  18. Mr. Shaman
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    Mr. Shaman Senior Member

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    Ya' grew up, huh??

    You still need help paying for your education....and, you consider yourself grown-up, huh?

    [​IMG]
     
  19. Mr. Shaman
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    Mr. Shaman Senior Member

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    Wellllllllllll.....ya' gotta understand. Student-loans are a long-term investment (in our economy); what "conservatives" consider Socialism. If there are no short-term profit$, involved....any investment (in their eyes) is considered wasteful-spending....especially if there's a risk those loan-beneficiaries might compete (directly; in the workplace) with the "conservatives'" lil' Prom Kings/Queens (at home).

    It's like a soft-version o' bigotry/racism; why should the "conservatives'" kiddies have to (actually) compete (in the real-World), when it's a whole-lot-more convenient, in Mom's & Pop's eyes, to simply eliminate the competition.​
     
    Last edited: Mar 11, 2011
  20. GHook93
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    GHook93 Aristotle

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    Grow up man!

     

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