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

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