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

[Too Tall]

Remember when rderp wasn't a complete fucking hack?
....
...........
....................

I don't.

Nor do I.

 

[Mr. Shaman]

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

Yeah, Goober.......​

....that's what happened.​

Stupid Fuckin' Teabaggers​

 

[Mr. Shaman]

The Republicans have found something else important enough to hold hostage, typical.

Ol' Wayne LaPierre's gotta.....​

.....justify his NRA mega-$alary....​

....somehow.

(.....Especially since NRA-members are finally catching-on to his hu$tle.)​

 

[bigrebnc1775]

Mr. Shitman has a brand new box of crayons.

 

[Charles_Main]

Giving the student loan program back to the banks just makes no sense. I guess that's why the GOP candidate supports it.

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

I have come to the Conclusion that Arguing the Constitutionality of anything is Pointless with Many Liberals, and Most liberals on this Board. Because deep down, Despite their Public Claims, They have Little Respect for the Constitution. They Share Obama's View of it as a tired old Document written by Racist White guys, that only Serves to Hamper their Ability to Rule as they see fit.

 

[Mr. Shaman]

Giving the student loan program back to the banks just makes no sense. I guess that's why the GOP candidate supports it.

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

Try this, Skippy:

WAAAAAAAAAAAAAAAAAAAAAAAAAAA!!!!!!​

Health Care
and
Education
Reconciliation Act of 2010​

 

[Listening]

Why do you idiots defend the very people who caused this mess and want to reward them further?

Why do you continue to post and show us that you belong in a home for those whose brainwaves are so small they can't be detected ?

 

[Mr. Shaman]

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.

-------------------------------------------------------

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

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!

Yeah....that's what.....​

....The Folks At BU$HCO....​

.....said.

.

.

.

.

.

 

[Charles_Main]

Why do you idiots defend the very people who caused this mess and want to reward them further?

Why do you continue to post and show us that you belong in a home for those whose brainwaves are so small they can't be detected ?

Why is it always your Default to insult peoples Intelligence? Just trying for the Spot of Poster Child for arrogant Elitist Liberals?

lol

 

[Mr. Shaman]

Nationalize Student Loans - Socialism

Now this entire scenario has Republicans furious.

....And.....all-of-a-sudden......really quiet, too.

.

.

.

 

[francoHFW]

Nothing will work or get paid back until the country recovers from the Pub world depression. How 'bout a gd Job Act, a-hole Pubs...The US got us in this mess, and only the US can get us out...

 

[Listening]

Nothing will work or get paid back until the country recovers from the Pub world depression. How 'bout a gd Job Act, a-hole Pubs...The US got us in this mess, and only the US can get us out...

Waaaaaaaaaaaaaaaaaaaaaaaaaaaahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

 

[Rozman]

Nothing will work or get paid back until the country recovers from the Pub world depression. How 'bout a gd Job Act, a-hole Pubs...The US got us in this mess, and only the US can get us out...

I have seen a ton of your posts and I chuckle at all of them....

You don't really believe half of what you post do you?
I mean seriously..
If you are really serious....well then.

 

[rdean]

Student loan interest rates about to double. Will Republicans be "dancing in the street"?

 

[Listening]

Student loan interest rates about to double. Will Republicans be "dancing in the street"?

Guess what ?

Tuition is likely to come down.

Uh oh.

 

[Rozman]

Actually they are going back to the rate they were before the Democrats
lowered them....And it was the Democrats who set up the time
when they revert back to their original interest rates....which is coming up soon.

I guess your keyboard malfunctioned or you would have added that... Rdean

 

[OohPooPahDoo]

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.

-------------------------------------------------------

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

All Obama did was change who administered the loans. A federally subsidized student loan is a de-facto government loan as the government guarantees the loan made by a private bank. The private bank in essence only acts to service the loan. They have to provide the capital but since the capital is protected by a government guarantee the capital they provide isn't actually at risk of loss - its the same as unspent cash.

 

[flacaltenn]

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.

-------------------------------------------------------

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

All Obama did was change who administered the loans. A federally subsidized student loan is a de-facto government loan as the government guarantees the loan made by a private bank. The private bank in essence only acts to service the loan. They have to provide the capital but since the capital is protected by a government guarantee the capital they provide isn't actually at risk of loss - its the same as unspent cash.

B.S. Obama took advantage of the CCRA act 2007 (signed by Bush ) that outlined new repayment schedules based on income, kids, ect.. Essentially taking out the whole concept of a default. Near impossible to find a default because by definition, you don't have to pay anymore if you can't afford it.. (if you don't understand the counter productive implications of that --- I'd be glad to explain them to you.)

So Obama had the tools he needed to ENCOURAGE MORE kids to take advantage of "free" federal student loans.. Doesn't matter whether they will end up working in a Chinese laundry --- Obama has made a 4 year stint at a fun campus completely financially risk-free with new "progressive income based rules for payments". So Chemical Engineers end up subsidizing those "poly sci" party animals that were always dirtying up the commons in the dorm..

We should be encouraging PARENTS and kids to try to get thru college DEBT-FREE or with minimum debt.. Not by guaranteeing outcomes and ENCOURAGING people to take on massive debts that they will never repay..

If that sounds familiar --- it should be..

 

[waltky]

Kinda makes ya wonder if after ya count the college debt, if the average college graduate really makes appreciably more in a lifetime than a high school graduate?...

Massive college debt can burden graduates for decades
24 June`12 . – When James Perucho opens his Rutgers University tuition bill in the fall, $200 of it will go toward the construction of academic buildings that he may never use but will add to the educational debt he will pay for years to come.

The $200 is small change compared with the $12,726 in tuition and fees the typical in-state undergraduate paid last year. But it shows how colleges and universities in recent years have hiked fees to cover lost government support and multibillion-dollar expansion programs. "It adds up," Perucho, of Neptune City, said of that and other fees. The incoming junior, grateful for an ample scholarship, still wishes there was a way to have the fee waived for high academic performance.

Higher education costs have outstripped inflation for the last 30 years, experts say, mostly because of dwindling government aid, more expensive housing and academic buildings to attract students, and more administrators. The costs are being passed on to students and their families, who find themselves falling deeper into debt as the tuition bill climbs. The nationwide tuition debt is now closing in on $1 trillion.

Kathleen Bijas knows how debt repayment goes. Saddled with $160,000 in student loans, the emergency room nurse from Ocean Township uses about half of her take-home pay to whittle down her debt, she said. At 27, she lives at home with her parents while the $1,608-a-month payments take their toll despite a stable job and comfortable salary. "I won't be able to buy a home. I can't buy a car," said Bijas, who now makes about $60,000 a year. "The idea of getting married and getting kids is frightening. If I can't afford to move out of my parents' house, how can I afford to raise someone? It's all going right out the window."

Some experts say ballooning college debt and increases in tuition can't be sustained. "The real problem is that education costs too much," said Glenn Harlan Reynolds, law professor at the University of Tennesseem and author of "The Higher Education Bubble." "You shouldn't have to borrow six figures to get a college education," he said. Taxpayers need to pressure lawmakers to keep public school tuition low, he said.

Outpacing inflation

 

[Too Tall]

Student loan interest rates about to double. Will Republicans be "dancing in the street"?

We have a student loan bubble that is about to burst and duplicate the subprime housing bubble

Student loans,” said our new friend, Barry Dyke. He has been following the money and he sees a lot of it going to education. Why?
“It worked just like subprime,” he explained. The feds bankrolled it. Guaranteed it. Regulated it. And conveniently didn’t notice as it got to monstrous proportions. Then, when it blows up, they’ll be there again, pointing fingers and promising to “regulate” more heavily.

“When you pay for something, you get more of it,” says presidential candidate Ron Paul.

The feds paid for one heckuva a lot of education, subsidizing students and colleges with trillions of dollars. They pay for GIs to go to school. They give grants to the schools themselves. And they hand out hundreds of billions in loans, at low teaser rates (just like subprime!) to students, often to students who are unqualified and unlikely to get much out of it.

Here’s the Washington Post story:

As the nation amasses more than $1 trillion in student loans, education experts say a vexing new problem has emerged: A growing number of young people have a mountain of debt but no degree to show for it.
Nearly 30 percent of college students who took out loans dropped out of school, up from fewer than a quarter of students a decade ago, according to a recent analysis of government data by think tank Education Sector. College dropouts are also among the most likely to default on their loans, falling behind at a rate four times that of graduates
.

More here:
Student Loan Bubble Sets Up To Be Subprime Disaster Part Deux - Forbes