Do you agree with this Statement?

[ClosedCaption]

Ok, but what about Universities making their education more affordable? Or would that request be govt over reach and opt for asking them "pretty please would you not collapse us all?"

 

[PredFan]

“If the Federal Reserve can float trillions of dollars to large financial institutions at low interest rates to grow the economy, surely they can float the Department of Education the money to fund our students, keep us competitive, and grow our middle class.”

Background: Student loans should be at the same rate as banks. Dropping the Student Loan interest rate from 6.8% to 0.75%

Great Idea!

I agree that they CAN, but I don't agree that they should. The Government cannot buy a good economy.

 

[Connery]

Moved to proper forum.

 

[iamwhatiseem]

Ok, but what about Universities making their education more affordable? Or would that request be govt over reach and opt for asking them "pretty please would you not collapse us all?"

How old are you?
If you are old enough to have seen higher education before the government started pumping it up..then you will remember when college campus real estate was maybe 70% academic buildings, 20% sport related (not counting parking lot space) - and 10% dorm buildings.
TODAY - maayybe 50% academic buildings, 30% quad apartments and campus apartments and 20% sport related. Because the schools are raking in cash off of student housing - again - financed by our tax dollars. My daughter paid $780 a month for one small room and a shared bathroom. No f*cking way could they get away with that kind of rent without the false demand created by students who would never pay that bill if the government wasn't paying it for them

 

[DiamondDave]

Ok, but what about Universities making their education more affordable? Or would that request be govt over reach and opt for asking them "pretty please would you not collapse us all?"

Government forcing a set price for a product or service because you want it to be more affordable?? Nope.. that is not a power bestowed upon the fed either...

You want cheaper education.. demand more competition... stop going on a borrowed dime..

 

[Connery]

This is not a great idea at all. "According to the Consumer Financial Protection Bureau, student loan debt has eclipsed credit-card debt and now stands at more than $1 trillion. As Bloomberg reported yesterday, a group of advisers to the Federal Reserve recently warned that student loan debt has “parallels to the housing crisis.” Professional students will have a "field day" and there will be more. The debt incurred will be staggering and not paid back this does not serve the purpose of education nor the students who seek to be trained for the job market.

Should Students Pay the Same Interest Rate as Goldman Sachs? - Businessweek

All excellent points. One way to defer repayment is to enroll in more schooling. People keep doing this, borrowing more and more and soon you can't repay the debt if you become a friggin Rocket Scientist.

At some point we have to realize that there is a huge problem with higher education. The interest rate charged is not that problem.

it is a business. The problem with higher education is the same with the prison system...free money from the government with little to no strings attached gives them both the STROOONGGG incentive to get as many as possible and keep them there longer.
There is no such thing as a 4 year degree anymore. It is more or less a 5 1/2 year degree now because they keep piling on class requirements to a stupid degree...but the givernment just keeps writing checks for bragging rights.

I do think, "no strings attached" is too flexible a term. For example, a person who wishes to have their loan debt discharged in bankruptcy would have to show: "1) the debtor cannot maintain, based on current income and expenses, a “minimal” standard of living for the debtor and the debtor’s dependents if forced to repay the student loans; 2) additional circumstances exist indicating that this state of affairs is likely to persist for a significant portion of the repayment period of the student loans; and 3) the debtor has made good faith efforts to repay the loans." The temptation for some to stay within the cocoon of higher education rather than join the work force is inherent in making the threshold for getting a loan easy.

 

[boedicca]

“If the Federal Reserve can float trillions of dollars to large financial institutions at low interest rates to grow the economy, surely they can float the Department of Education the money to fund our students, keep us competitive, and grow our middle class.”

Background: Student loans should be at the same rate as banks. Dropping the Student Loan interest rate from 6.8% to 0.75%

Great Idea!

Do I agree with this statement?

No.

Encouraging students to take on massive quantities of debt for educations that do not prepare them for a lucrative enough career to service such debt is insane regardless of the interest rate.

 

[iamwhatiseem]

“If the Federal Reserve can float trillions of dollars to large financial institutions at low interest rates to grow the economy, surely they can float the Department of Education the money to fund our students, keep us competitive, and grow our middle class.”

Background: Student loans should be at the same rate as banks. Dropping the Student Loan interest rate from 6.8% to 0.75%

Great Idea!

Do I agree with this statement?

No.

Encouraging students to take on massive quantities of debt for educations that do not prepare them for a lucrative enough career to service such debt is insane regardless of the interest rate.

Exactly.
Which is is yet ANOTHER example showing how the government's incentive in all of the "it's the right thing to do" - type of spending is not about using the money for the purpose stated...but to pump up the rhetoric to make us think they are doing great things.
I mean on the surface who can argue with the statement "everybody should have the opportunity of going to college"? It sounds great. But it is incredibly WRONG.
Everybody should NOT have this "opportunity" because it is a colossal waste of money and their time trying to do something they have no chance of succeeding in.

 

[Pop23]

“If the Federal Reserve can float trillions of dollars to large financial institutions at low interest rates to grow the economy, surely they can float the Department of Education the money to fund our students, keep us competitive, and grow our middle class.”

Background: Student loans should be at the same rate as banks. Dropping the Student Loan interest rate from 6.8% to 0.75%

Great Idea!

Do I agree with this statement?

No.

Encouraging students to take on massive quantities of debt for educations that do not prepare them for a lucrative enough career to service such debt is insane regardless of the interest rate.

Exactly.
Which is is yet ANOTHER example showing how the government's incentive in all of the "it's the right thing to do" - type of spending is not about using the money for the purpose stated...but to pump up the rhetoric to make us think they are doing great things.
I mean on the surface who can argue with the statement "everybody should have the opportunity of going to college"? It sounds great. But it is incredibly WRONG.
Everybody should NOT have this "opportunity" because it is a colossal waste of money and their time trying to do something they have no chance of succeeding in.

Far to many teens see College as a right of passage, not for it's intended purpose. We need a better Community College system and lead some of them into that system where many of them would be far better served.

 

[Connery]

Do I agree with this statement?

No.

Encouraging students to take on massive quantities of debt for educations that do not prepare them for a lucrative enough career to service such debt is insane regardless of the interest rate.

Exactly.
Which is is yet ANOTHER example showing how the government's incentive in all of the "it's the right thing to do" - type of spending is not about using the money for the purpose stated...but to pump up the rhetoric to make us think they are doing great things.
I mean on the surface who can argue with the statement "everybody should have the opportunity of going to college"? It sounds great. But it is incredibly WRONG.
Everybody should NOT have this "opportunity" because it is a colossal waste of money and their time trying to do something they have no chance of succeeding in.

Far to many teens see College as a right of passage, not for it's intended purpose. We need a better Community College system and lead some of them into that system where many of them would be far better served.

The "system" begins with counselors and school psychologists at the high school level. Students should be given proper direction based on their skills and abilities. Then perhaps a community or a 4 year college would be in order.

 

[ClosedCaption]

“If the Federal Reserve can float trillions of dollars to large financial institutions at low interest rates to grow the economy, surely they can float the Department of Education the money to fund our students, keep us competitive, and grow our middle class.”

Background: Student loans should be at the same rate as banks. Dropping the Student Loan interest rate from 6.8% to 0.75%

Great Idea!

Do I agree with this statement?

No.

Encouraging students to take on massive quantities of debt for educations that do not prepare them for a lucrative enough career to service such debt is insane regardless of the interest rate.

Exactly.
Which is is yet ANOTHER example showing how the government's incentive in all of the "it's the right thing to do" - type of spending is not about using the money for the purpose stated...but to pump up the rhetoric to make us think they are doing great things.
I mean on the surface who can argue with the statement "everybody should have the opportunity of going to college"? It sounds great. But it is incredibly WRONG.
Everybody should NOT have this "opportunity" because it is a colossal waste of money and their time trying to do something they have no chance of succeeding in.

Ok ok ok....hold up so. Because the govt got involved in student loans or financing educations. You're saying that basically too many people went to school drove up all this debt, increased the number of ppl with higher education which made higher education a requirement for most jobs but the other down side is that because so many more ppl had that higher education that made it harder for those people too to find a job?

In a nutshell? Because if so, that is brilliant

 

[editec]

Forgiving ALL STUDENT LOANS would be an amazing STIMULUS to this economy.

 

[iamwhatiseem]

Do I agree with this statement?

No.

Encouraging students to take on massive quantities of debt for educations that do not prepare them for a lucrative enough career to service such debt is insane regardless of the interest rate.

Exactly.
Which is is yet ANOTHER example showing how the government's incentive in all of the "it's the right thing to do" - type of spending is not about using the money for the purpose stated...but to pump up the rhetoric to make us think they are doing great things.
I mean on the surface who can argue with the statement "everybody should have the opportunity of going to college"? It sounds great. But it is incredibly WRONG.
Everybody should NOT have this "opportunity" because it is a colossal waste of money and their time trying to do something they have no chance of succeeding in.

Ok ok ok....hold up so. Because the govt got involved in student loans or financing educations. You're saying that basically too many people went to school drove up all this debt, increased the number of ppl with higher education which made higher education a requirement for most jobs but the other down side is that because so many more ppl had that higher education that made it harder for those people too to find a job?

In a nutshell? Because if so, that is brilliant

Brilliant?...well...just the truth.
The student loan "industry" (make no mistake, it IS an industry now) is exactly like the mortgage industry in the 90's. What started out as this "do the right thing" sub-prime lending to put more people in their own homes - exploded as everyone involved stood in line to take advantage of government-backed loans.
The same with student loans/grants. There is $billions in "free money" here for colleges. The government is more than happy to tell Americans "We have increased student loans by 20% this year so more American children can fufill their dreams" [insert applause]...BULLSHIT....in reality they are bankrolling failure and completely screwing up a once VERY SUCCESSFUL education system.
Like I said - there are no 4 year degrees anymore. The colleges, anxious to get more government backed $$$, are piling on unnecessary prerequisites and bullshit courses that are forcing kids in summer school and prolonging the time it takes to get the degree. And the value of that degree has been degraded because schools are also lowering their standards to keep less than average students enrolled to keep rolling in the government $$$....YOUR money.

 

[ClosedCaption]

I never thought of it like that....Rep on the way!

 

[akelch]

“If the Federal Reserve can float trillions of dollars to large financial institutions at low interest rates to grow the economy, surely they can float the Department of Education the money to fund our students, keep us competitive, and grow our middle class.”

Background: Student loans should be at the same rate as banks. Dropping the Student Loan interest rate from 6.8% to 0.75%

Great Idea!

Interest rates are based on risk. Student loans are way too risky.

 

[Avorysuds]

I think it's pure stupidity...

 

[Luddly Neddite]

“If the Federal Reserve can float trillions of dollars to large financial institutions at low interest rates to grow the economy, surely they can float the Department of Education the money to fund our students, keep us competitive, and grow our middle class.”

Background: Student loans should be at the same rate as banks. Dropping the Student Loan interest rate from 6.8% to 0.75%

Great Idea!

Both India and China look at education as an investment in their own country. They both pay all or part of various education costs and the result is, they're leaving us in the dirt. The problem is that Americans don't realize that we will not always be the strongest or richest on the planet unless we change some very basic attitudes.

Such as - It is indeed the height of stupidity to allow huge mega corporations, like banks, to be able to borrow money at a lower interest rate than individuals who would use their education for the betterment of our country.

Too many Americans don't want to invest in their own country. They would rather send money to other countries, support other country's banks and technology and manufacture and on and on. Obama is giving tax breaks to companies that bring their business back to the US while the R is fighting against that. They would rather see more tanks built for our military that has no use for the ones rusting in storage fields.

I don't know how it can be accomplished but we need for all Americans to care more about their own country and less about hurting Obama. Its just stupid. Its unpatriotic, borders on treason and very self-injurious. But, read rw's here. They hate their own country and want to see it harmed.

 

[Luddly Neddite]

Exactly.
Which is is yet ANOTHER example showing how the government's incentive in all of the "it's the right thing to do" - type of spending is not about using the money for the purpose stated...but to pump up the rhetoric to make us think they are doing great things.
I mean on the surface who can argue with the statement "everybody should have the opportunity of going to college"? It sounds great. But it is incredibly WRONG.
Everybody should NOT have this "opportunity" because it is a colossal waste of money and their time trying to do something they have no chance of succeeding in.

Ok ok ok....hold up so. Because the govt got involved in student loans or financing educations. You're saying that basically too many people went to school drove up all this debt, increased the number of ppl with higher education which made higher education a requirement for most jobs but the other down side is that because so many more ppl had that higher education that made it harder for those people too to find a job?

In a nutshell? Because if so, that is brilliant

Brilliant?...well...just the truth.
The student loan "industry" (make no mistake, it IS an industry now) is exactly like the mortgage industry in the 90's. What started out as this "do the right thing" sub-prime lending to put more people in their own homes - exploded as everyone involved stood in line to take advantage of government-backed loans.
The same with student loans/grants. There is $billions in "free money" here for colleges. The government is more than happy to tell Americans "We have increased student loans by 20% this year so more American children can fufill their dreams" [insert applause]...BULLSHIT....in reality they are bankrolling failure and completely screwing up a once VERY SUCCESSFUL education system.
Like I said - there are no 4 year degrees anymore. The colleges, anxious to get more government backed $$$, are piling on unnecessary prerequisites and bullshit courses that are forcing kids in summer school and prolonging the time it takes to get the degree. And the value of that degree has been degraded because schools are also lowering their standards to keep less than average students enrolled to keep rolling in the government $$$....YOUR money.

This is a mish mash of fact and fallacy but Obama taking the govt out of the picture can only be a good thing.

Early education is geared at the mean average. We hate those who excel just a much as we hate the underachiever. We want cookie cutter kids who can pass tests but can think for themselves. Repubs even said it right out loud - stop teaching critical thinking and let Texasss rewrite the text books.

About 4 year degrees - university isn't for everyone. We need decent education for those who don't want/need an undergrad degree. And, we need to make sure those who want and need a Master's level or higher can get it.

As it is, we're hiring from other countries because we don't have enough qualified people here. We're educating for the fat food industry while other countries are leaving us in the dust.

 

[Luddly Neddite]

“If the Federal Reserve can float trillions of dollars to large financial institutions at low interest rates to grow the economy, surely they can float the Department of Education the money to fund our students, keep us competitive, and grow our middle class.”

Background: Student loans should be at the same rate as banks. Dropping the Student Loan interest rate from 6.8% to 0.75%

Great Idea!

No

The government should not be involved in student loans at all.. not as a lender.. not to dictate to others to lend.. not to back loans... not to facilitate interest rates... nothing of the sort....

You want a loan for school, get it yourself like you get a loan for a car, a loan for a house, a loan for a purchase, or whatever else

Never thought I see you agree with President Obama.

 

[Luddly Neddite]

BTW, as usual, Jon Stewart really nailed this issue.

rw's would probably be surprised at his take on it and, my bet is, they'd agree with him.