Remember when Obama and the Democrats nationalized "Student Loans"?

Discussion in 'Politics' started by rdean, May 25, 2012.

  1. rdean
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    rdean rddean

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    Nationalize Student Loans - Socialism

    All the Republican "experts" said is was another step towards "socialism". And what was actually happening.

    Banks gave out student loans and the interest made them a fine profit. The loans were guaranteed by the US government which meant the banks had near zero risk. Basically, they simply collecting interest with no risk involved. The Republican "theory" was that banks would be "competitive" making loans competitive. Only they weren't. Simply another Republican economic theory based on "gut" feeling without actual data or study to back it up. So tired of that.

    So Democrats "nationalized" student loans but no one was watching because everyone was watching "Obamacare", that terrible program that helps millions of Americans.

    So what happened is that the government was giving out student loans and instead of banks making a profit for doing nothing, that interest money has been going into "Pell Grants". I love the way Democrats use creative ways to pay for helping the American Middle Class. According to Republicans, it's so "unAmerican".

    Now this entire scenario has Republicans furious. Banks cut out of this "easy money". Terrible. That's not "capitalism", it's "socialism". How awful. This is why they want to DOUBLE interest rates. Someone has to pay for these "tax breaks" to poor billionaires. Republicans have simply discovered a "new" target.

    This is why watching Mitt Romney talking about class size and why bigger is better was hilarious. In Republican schools, they teach, "if banks do well, America does well" except when that's not true. Mittens actually insisting a larger class size is better? Because of his "expertise" with third world and public schools no doubt. At least that's what he said.

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    Unless Congress intervenes, interest rates on federally-subsidized Stafford loans will double from 3.4% to 6.8% on July 1st, 2012 for over 7.4 million students. President Obama and Congressional Democrats are working to prevent this $1,000 debt increase for students by passing the Stop the Student Loan Interest Rate Hike Act. Congressional Republicans are standing in the way, filibustering the bill and pushing budget proposals that would raise rates on student loans to pay for more tax breaks for millionaires and wealthy special interests.

    Republican Agenda on Student Loans? Double Interest Rates to Pay for Tax Breaks for Millionaires
     
  2. CrusaderFrank
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    CrusaderFrank Diamond Member

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    It's like when the government guaranteed loans for people going to train in beauty schools.

    Everyone qualified, the tax payers was the only one bearing the risk, so the beauty schools made a fortune and the tax payer bore all the losses.

    Just like higher education today
     
  3. Seawytch
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    Seawytch Information isnt Advocacy

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    Giving the student loan program back to the banks just makes no sense. I guess that's why the GOP candidate supports it. :lol:
     
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  4. Gremlin-USA
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    Gremlin-USA <<< Me in 1970

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    Guaranteed Loans to people wanting Homes but could not afford it, is that not what started our Financial Meltdown?


    "53 Percent Of All Young College Graduates In America Are Either Unemployed Or Underemployed"

    53 Percent Of All Young College Graduates In America Are Either Unemployed Or Underemployed

    So many New Grads are having to take lower paying Jobs, kinda hard to pay back that loan......

    New College Grads need a Job to pay back these loans, if they do not pay them back who pays back the banks? The Taxpayer....

    .
     
  5. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Fannie and Freddie started demanding bank provide them "No Income No Asset" Loans.

    What could possibly go wrong with such stringent underwriting standards?
     
  6. Bigfoot
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    Bigfoot NRA

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    Democrats=Tax and spend, period.
     
  7. bigrebnc1775
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    bigrebnc1775 Diamond Member

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    dumb ass the people who are stuck with the bill are those in the future.
     
  8. occupied
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    occupied Gold Member

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    The Republicans have found something else important enough to hold hostage, typical.
     
  9. DiamondDave
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    DiamondDave Army Vet

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    Makes sense when the federal government has no such power to grant or guarantee such loans... you want the power, there is an amendment process to have the states grant and ratify that power
     
  10. OohPooPahDoo
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    OohPooPahDoo Gold Member

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    The free market cures all ills you commie scab! If government could just GET OUT of the way of subsidized student loans and pell grants - the free market would make those things work better!
     

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