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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.
Yes, it was. How quickly they forget, huh?
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!"
The way you write...you should sue the schools, you can't even string together a coherent sentence.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!
I posted the number and website to go to. Try calling it. It will take 3-4 minutes max!
If you need a private lender to call to verify try accessgroup.org - Paying for Graduate School, Financial Aid Information and Student Loan Repayment.
Show us something in the Health Care bill that has anything to do with your problems with your student loans.
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
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.
How is it a swipe at the working class to call for personal responsibility for the expenses of ones own wants and needs?
The way you write...you should sue the schools, you can't even string together a coherent sentence.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!
The way you write...you should sue the schools, you can't even string together a coherent sentence.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!
And wtf! You're whining about your government hand out?
I posted the number and website to go to. Try calling it. It will take 3-4 minutes max!
If you need a private lender to call to verify try accessgroup.org - Paying for Graduate School, Financial Aid Information and Student Loan Repayment.
I am not going to go call anyone on the phone to back up your claims.
Student loans are underwritten by the Federal government and offered at a lower percentage rate than non-student loans.The way you write...you should sue the schools, you can't even string together a coherent sentence.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!
And wtf! You're whining about your government hand out?
How do you figure that a loan is a hand-out? That doesn't even make sense. Pell Grant? Sure. But a loan that has to be paid back with interest? I don't think so, Tim.
Wow, you ask for proof and he provides it so you holler "No way, Jose I'm not calling anyone" and you then move the goal post. What a loser.
Oh, and when the students default the government buys up the loans and tries to collect them, thereby protecting the bank...with very limited success in collecting from the defaulters.Student loans are underwritten by the Federal government and offered at a lower percentage rate than non-student loans.The way you write...you should sue the schools, you can't even string together a coherent sentence.
And wtf! You're whining about your government hand out?
How do you figure that a loan is a hand-out? That doesn't even make sense. Pell Grant? Sure. But a loan that has to be paid back with interest? I don't think so, Tim.
So yes, it is a bit of a handout.
Oh, and when the students default the government buys up the loans and tries to collect them, thereby protecting the bank...with very limited success in collecting from the defaulters.Student loans are underwritten by the Federal government and offered at a lower percentage rate than non-student loans.How do you figure that a loan is a hand-out? That doesn't even make sense. Pell Grant? Sure. But a loan that has to be paid back with interest? I don't think so, Tim.
So yes, it is a bit of a handout.
So yeah, ghook should quit whining and thank our social programs for underwriting his ungrammatical ass.
President Bush made clear that funding programs for students in school such as the Pell Grant would take a higher priority than assisting students after they’ve completed their education. In the Office of Student Financial Assistance Budget, student loan consolidation has been earmarked for a cut from $ 34.7 billion to $ 25.3 billion, a loss of $ 9.4 billion. In addition, the 2006 Budget proposes three major changes to the student loan consolidation program:
First and most important, the 2006 budget proposes replacing the fixed rate benefits of student loan consolidation with a variable rate formula equal to current loan balances. This would mean that students, currently locking in rates of 2.875%, would end up with variable rate loans that could reach as high as 8.25%, a potential 300% increase in rates.
Second, the budget proposes allowing students to reconsolidate their student loans at a fee of 1% of their loan balance. For graduate and medical students, who often have loan balances of $ 100,000 or more, this could translate to reconsolidation fees of thousands of dollars; currently, students pay no fee for any kind of student loan consolidation.
Third, the budget proposes doubling the fees that lenders are charged, from 0.5% to 1.0%. As lenders will need to absorb a doubling of their loan origination costs, benefits such as interest rate discounts offered to graduates may decrease or be eliminated. Additionally, because of the $ 9.4 billion proposed cut, lenders will need to search for ways to recoup the loss of federal funds, either by making consolidation requirements more stringent (i.e. requiring higher loan balances) or reducing benefits.
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!
Those are separate questions. I'm am merely laughing at ghook for whining about his government handout.Oh, and when the students default the government buys up the loans and tries to collect them, thereby protecting the bank...with very limited success in collecting from the defaulters.Student loans are underwritten by the Federal government and offered at a lower percentage rate than non-student loans.
So yes, it is a bit of a handout.
So yeah, ghook should quit whining and thank our social programs for underwriting his ungrammatical ass.
Where does the government get the money to lend out to begin with?
Who ultimately pays when government fails to collect from defaulters?
Why is government even in the business of loaning money anyway?
