Rs filibuster student loans refinance bill

[initforme]

If it is going to help middle class or poor people its bad. If it helps the corporations its good. Now I SEE

 

[waltky]

She was on Letterman last night talkin' about this...

Warren Student Loan Refinance Bill on Tap Before Mid-Term Election
Sep 15, 2014 — A Senate bill that will allow the refinancing of older, higher interest student loans is set to be reintroduced by Senators Elizabeth Warren (D-Mass.) and Jack Reed (D-R.I.) in a last ditch attempt to get it passed before the midterm elections. Senate Majority Whip Dick Durbin (D-Ill.) said there would be a vote on the bill in September following a June fail.

In a September 4 conference call sponsored by Generation Progress, Senator Warren, who seemed to acknowledge the bill’s controversial features, said, “I’m never going to get this politician thing right, but we want to pass a law that will cover everybody, a law that would enable people to re-finance Federal Parent PLUS loans and private loans, too,” including those made by Sallie Mae — now Navient — and those from bank and non-bank lenders that charge rates which can run into double digits.

The Warren-Reed bill would establish, through the Department of Education (ED), a refinancing program for the unpaid principal, interest and late charges on qualified borrowers of William D. Ford Federal Direct Loans and Direct Consolidation Loans that were applied for before July 1, 2013. Qualified borrowers of the Federal Family Education Loans (FFEL) would also be eligible for rate reductions. The FFEL program was ended on June 30, 2010. FFEL loans made before then charge interest that is above current rates. “Homeowners are refinancing. Small businesses are refinancing,” noted Warren. “We just want young people who got an education to have their shot."

Warren’s bill — the Bank on Students Emergency Loan Refinancing Act - was last shot down on June 11, when it failed to get to the Senate floor for an up or down vote. “In the Senate, you have to vote to begin debate on a bill and then vote separately on the actual text of the bill,” said Christina Mulka, spokesperson for Senator Durbin. It failed to get to the Senate floor by a 56 to 38 vote. It needed 60 votes to overcome a Republican filibuster.

Rather than carve out money already earmarked for ED’s budget, the Warren bill calls for the creation of what she says will be a "tax on millionaires and billionaires" to offset the cost of lowering interest rates — something that has engendered no sympathy from the GOP. Warren has said that Democrats were open to alternative plans to pay for the rate reduction, but her colleagues across the aisle have not jumped on that bandwagon. "The Senate Democrats' bill isn't really about students at all. It's really all about Senate Democrats," said Minority Leader Mitch McConnell (R-Ky). "They want an issue to campaign on to save their own hides this November."

The Warren bill has critics on the Left as well. In his blog on Student Loan Lawyer, Joshua Cohen wrote, “Only private student loans in good standing are eligible. All those in default gain no benefit here – those in default are the folks who need it the most.”

Warren Student Loan Refinance Bill on Tap Before Mid-Term Election - Page 2 - MainStreet

 

[Politico]

Warren's going to go campaign for democratic candidates with this.


Sent from my iPhone using USMessageBoard.com

Of course. She is a Democrat. They think education should be free.

 

[thereisnospoon]

Senate Republicans Filibuster Elizabeth Warren?s Bill to Refinance Student Loans | Occupy Democrats

Despite President Obama’s efforts Monday to use an executive order, and Tuesday’s Tumblr Q & A to shine a spotlight on the Senate’s consideration of Senator Warren’s Bank on Students Emergency Loan Refinancing Act, which would provide for the refinancing of certain Federal student loans, the bill was unable to clear the hurdle in the Senate that would allow it to be up for further consideration.

The bill would have allowed millions of borrowers, some with years-old debt and interest rates topping 7% or more, to refinance their existing student loan debt at today’s lower interest rates of 3.86%. Unfortunately the vote rang in at 56-38, which despite a majority of Senate approval falls short of the 60 votes necessary for the measure to overcome Republicans’ filibuster of the measure and proceed to debate.

“It’s a real shame Republicans are standing in the way of this very important, timely legislation,” Senate Majority Leader Harry Reid told reporters after the vote.

40 million Americans have outstanding student loan debt totaling $1.2 trillion, making student loan debt the second-largest form of consumer debt, second only to mortgages. Student-loan debt also grew by $31 billion from January to March, making it the fastest-growing household debt category as well.

If it can help economic recovery or benefit any American, the Republicans are against it.

Thats just tough shit.
Why should a person with a credit rating that warrants a high interest rate have their rate artificially lowered on the backs of the taxpayers?
Here's the problem you face. There is no magic wand to be waved that can make things just go away. Debt has to be repaid.
If the dems wanted a realistic bill, they should have presented one that extends the term of the loan to give students who find careers in their field more time to pay off the loan.
The other provision is a limit on compounding of the interest. That would be a reasonable bill and would pass.

 

[thereisnospoon]

Senate Republicans Filibuster Elizabeth Warren?s Bill to Refinance Student Loans | Occupy Democrats

Despite President Obama’s efforts Monday to use an executive order, and Tuesday’s Tumblr Q & A to shine a spotlight on the Senate’s consideration of Senator Warren’s Bank on Students Emergency Loan Refinancing Act, which would provide for the refinancing of certain Federal student loans, the bill was unable to clear the hurdle in the Senate that would allow it to be up for further consideration.

The bill would have allowed millions of borrowers, some with years-old debt and interest rates topping 7% or more, to refinance their existing student loan debt at today’s lower interest rates of 3.86%. Unfortunately the vote rang in at 56-38, which despite a majority of Senate approval falls short of the 60 votes necessary for the measure to overcome Republicans’ filibuster of the measure and proceed to debate.

“It’s a real shame Republicans are standing in the way of this very important, timely legislation,” Senate Majority Leader Harry Reid told reporters after the vote.

40 million Americans have outstanding student loan debt totaling $1.2 trillion, making student loan debt the second-largest form of consumer debt, second only to mortgages. Student-loan debt also grew by $31 billion from January to March, making it the fastest-growing household debt category as well.

If it can help economic recovery or benefit any American, the Republicans are against it.

They are so ignorant for doing that, Mitch McConnell is out of his mind.

Elizabeth Warren said she was going to campaign for Alison Lundergan Grimes in Kentucky and everyone should support her in her race whether you live in Kentucky or not.

So Warren is going to Kentucky? She should find this hostile territory.
Warren's presence will probably scuttle any chance of a democrat win there.
BTW, is it possible for you to discuss the subject matter of a thread without adding in your typical emotional rantings.

 

[thereisnospoon]

Well you libs take up a collection and pay them off for them

All the people before them has paid of their loans

now all a sudden it needs to be given special treatment

buy them votes buy them votes

As usual, you're wrong.

No one is saying they should not have to pay off their loans. The bill would have given then the same interest rate as the rest of us. That's it. Nothing more.

Please stop lying.

Just because you didn't bother getting an education doesn't mean others are as lazy as you.

(Yeah, asking Staph not to lie is like asking the wind not to blow. She's full of lies and hot air.)

The rest of WHOM?
Low interest rates are EARNED by those who use credit responsibly.
Those with lower ratings pay higher interest rates because they present a higher risk of default.
Why should a student be given a free pass to that which others have worked so hard to attain?

 

[Luddly Neddite]

All these College types going deep in debt getting degrees that don't
do anything to get them employment.

Really?

You know exactly what every "college type's" major is?

I am damned partisan but that's just a dumb thing to say and my bet is its based on your own lack of education.

Its never too late to go back to college.

 

[Luddly Neddite]

Well you libs take up a collection and pay them off for them

All the people before them has paid of their loans

now all a sudden it needs to be given special treatment

buy them votes buy them votes

As usual, you're wrong.

No one is saying they should not have to pay off their loans. The bill would have given then the same interest rate as the rest of us. That's it. Nothing more.

Please stop lying.

Just because you didn't bother getting an education doesn't mean others are as lazy as you.

(Yeah, asking Staph not to lie is like asking the wind not to blow. She's full of lies and hot air.)

The rest of WHOM?
Low interest rates are EARNED by those who use credit responsibly.
Those with lower ratings pay higher interest rates because they present a higher risk of default.
Why should a student be given a free pass to that which others have worked so hard to attain?

What free pass?

The interest rates are higher for college students. Its usury. Why shouldn't be invest in our own people and our own country's future?

You might be interested in this -

14 Ways We re Stealling Our Children s Future US Message Board - Political Discussion Forum

 

[thereisnospoon]

All these College types going deep in debt getting degrees that don't
do anything to get them employment.

Really?

You know exactly what every "college type's" major is?

I am damned partisan but that's just a dumb thing to say and my bet is its based on your own lack of education.

Its never too late to go back to college.

We got a pretty good idea during the days of Occupy. Many of the people interviewed who said they had degrees did so in disciplines which are virtually unmarketable in the business world.
Degrees such is "women's studies".. Greek philosophy. History of ancient civilizations. Do you really think any employer is going to do anything but say "thank you for applying. However after careful review of your application, we regret to inform you that you have not been selected as a candidate"....Meanwhile the HR people are laughing their asses off.
The most marketable degrees are in business, engineering and health care

 

[CrusaderFrank]

We need Liz Warren for President. Free STUFF!!

Food, housing education are all rights! We get them for free with Liz!!!

Free Liz!!

 

[CrusaderFrank]

Well you libs take up a collection and pay them off for them

All the people before them has paid of their loans

now all a sudden it needs to be given special treatment

buy them votes buy them votes

As usual, you're wrong.

No one is saying they should not have to pay off their loans. The bill would have given then the same interest rate as the rest of us. That's it. Nothing more.

Please stop lying.

Just because you didn't bother getting an education doesn't mean others are as lazy as you.

(Yeah, asking Staph not to lie is like asking the wind not to blow. She's full of lies and hot air.)

The Federal government makes or guarantees all the loans, no?

 

[Dot Com]

We need Liz Warren for President. Free STUFF!!

Food, housing education are all rights! We get them for free with Liz!!!

Free Liz!!

see if you can get Admin to change your name to "HyperboleKing57"

 

[CrusaderFrank]

She was on Letterman last night talkin' about this...

Warren Student Loan Refinance Bill on Tap Before Mid-Term Election
Sep 15, 2014 — A Senate bill that will allow the refinancing of older, higher interest student loans is set to be reintroduced by Senators Elizabeth Warren (D-Mass.) and Jack Reed (D-R.I.) in a last ditch attempt to get it passed before the midterm elections. Senate Majority Whip Dick Durbin (D-Ill.) said there would be a vote on the bill in September following a June fail.

In a September 4 conference call sponsored by Generation Progress, Senator Warren, who seemed to acknowledge the bill’s controversial features, said, “I’m never going to get this politician thing right, but we want to pass a law that will cover everybody, a law that would enable people to re-finance Federal Parent PLUS loans and private loans, too,” including those made by Sallie Mae — now Navient — and those from bank and non-bank lenders that charge rates which can run into double digits.

The Warren-Reed bill would establish, through the Department of Education (ED), a refinancing program for the unpaid principal, interest and late charges on qualified borrowers of William D. Ford Federal Direct Loans and Direct Consolidation Loans that were applied for before July 1, 2013. Qualified borrowers of the Federal Family Education Loans (FFEL) would also be eligible for rate reductions. The FFEL program was ended on June 30, 2010. FFEL loans made before then charge interest that is above current rates. “Homeowners are refinancing. Small businesses are refinancing,” noted Warren. “We just want young people who got an education to have their shot."

Warren’s bill — the Bank on Students Emergency Loan Refinancing Act - was last shot down on June 11, when it failed to get to the Senate floor for an up or down vote. “In the Senate, you have to vote to begin debate on a bill and then vote separately on the actual text of the bill,” said Christina Mulka, spokesperson for Senator Durbin. It failed to get to the Senate floor by a 56 to 38 vote. It needed 60 votes to overcome a Republican filibuster.

Rather than carve out money already earmarked for ED’s budget, the Warren bill calls for the creation of what she says will be a "tax on millionaires and billionaires" to offset the cost of lowering interest rates — something that has engendered no sympathy from the GOP. Warren has said that Democrats were open to alternative plans to pay for the rate reduction, but her colleagues across the aisle have not jumped on that bandwagon. "The Senate Democrats' bill isn't really about students at all. It's really all about Senate Democrats," said Minority Leader Mitch McConnell (R-Ky). "They want an issue to campaign on to save their own hides this November."

The Warren bill has critics on the Left as well. In his blog on Student Loan Lawyer, Joshua Cohen wrote, “Only private student loans in good standing are eligible. All those in default gain no benefit here – those in default are the folks who need it the most.”

Warren Student Loan Refinance Bill on Tap Before Mid-Term Election - Page 2 - MainStreet

It happens to be a good idea and would help the economy. Republicans fucked up this one

Sent from smartphone using my wits and Taptalk

 

[sameech]

Senate Republicans Filibuster Elizabeth Warren?s Bill to Refinance Student Loans | Occupy Democrats

Despite President Obama’s efforts Monday to use an executive order, and Tuesday’s Tumblr Q & A to shine a spotlight on the Senate’s consideration of Senator Warren’s Bank on Students Emergency Loan Refinancing Act, which would provide for the refinancing of certain Federal student loans, the bill was unable to clear the hurdle in the Senate that would allow it to be up for further consideration.

The bill would have allowed millions of borrowers, some with years-old debt and interest rates topping 7% or more, to refinance their existing student loan debt at today’s lower interest rates of 3.86%. Unfortunately the vote rang in at 56-38, which despite a majority of Senate approval falls short of the 60 votes necessary for the measure to overcome Republicans’ filibuster of the measure and proceed to debate.

“It’s a real shame Republicans are standing in the way of this very important, timely legislation,” Senate Majority Leader Harry Reid told reporters after the vote.

40 million Americans have outstanding student loan debt totaling $1.2 trillion, making student loan debt the second-largest form of consumer debt, second only to mortgages. Student-loan debt also grew by $31 billion from January to March, making it the fastest-growing household debt category as well.

Why didn't Harry Reid suspend the rules like he has before to get things passed?

If it can help economic recovery or benefit any American, the Republicans are against it.

 

[chikenwing]

Interesting that we do not hear granny Warren or any of her democrat cohorts howling about "price gouging" at colleges.

I've been hearing a lot about price gouging. Maybe you should stop getting your "news" from faux, beck, limbaugh, Alex Jones and other liars.

Naw, you wouldn't want to be bogged down with FACTS.

So what is the cost for a year at Cornell?