GOP's Secret $90 Billion Gift to Wall Street by raising cost of student loans

[CrusaderFrank]

You simply cannot have a reasonable discussing about economics with Progressives because they believe that the US Government IS the economy and everything else is just "Wall Street, Booooosh and Fox News"

Hey Frank, this is SIMPLE economics 101. By eliminating the 'middle man'; the banks we the taxpayers PAY to 'administer' school loans, it will cost students less for a school loan, and it will cost taxpayers less in 'administration' costs.

You Regressives have no problem with socialism or welfare, as long as it is a handout to banks and Wall Street.

How's that business model working out with Fannie and Freddie?

 

[CrusaderFrank]

How many student loans did Michelangelo get from the Signoria?

 

[Greenbeard]

The Republican repeal plan wouldn't just put tens of billions of public dollars in bank coffers. It would also raise the maximum amount a graduate is forced to pay each year from 10 percent to 15 percent of income. And it would extend the length of time before their debt is forgiven from 20 to 25 years.

Wow, I'd forgotten that they're campaigning on reinstating FFELP (a gift to the banks), making the income-based repayment option more difficult, and cutting $80 billion out of the student loan program and redirecting it to the profit margin of the banks. Kudos on making that point.

 

[Bfgrn]

What TEA Party candidate is supporting a student loan GSE program?

Better go eat your Wheaties...you are having trouble keeping up.

From the OP:

"Fiscal conservatism," anyone?

It was always hypocritical to slam a bailout that they and their party initiated. But it turns out they were just warming up. Now they're trying to pull a fast one on the American public, tapping Tea Party rage about big government spending even as they prepare to slip the big bankers some big bucks. They're planning to siphon off $90 billion meant for America's college students and their families and give it to Wall Street.

Any Tea Partier who votes for these guys is being played for a sucker.

I can't make heads or tails of that stupid BS article. It is a bunch of Maddow & Olberman style inventing strawman & shadow boxing. Sounds like it was invented by the Democrats favorite cash cow the GSEs.

I want to know what bill we are talking about & who is supporting it. Give me a name of a TEA Partier that supports this bill.

Forget the 'Wheaties', you will probably hurt yourself climbing up to reach the box. Here's a better idea. On Monday, go ask your teacher between milk & cookies and nap time.

 

[Greenbeard]

I want to know what bill we are talking about & who is supporting it. Give me a name of a TEA Partier that supports this bill.

You can't think of a single Tea Partier who supports "repeal-and-replace", i.e. some version of H.R. 5424 (which of course will have to be re-introduced next session as this bill expires in a few months)?

 

[Bfgrn]

You simply cannot have a reasonable discussing about economics with Progressives because they believe that the US Government IS the economy and everything else is just "Wall Street, Booooosh and Fox News"

Hey Frank, this is SIMPLE economics 101. By eliminating the 'middle man'; the banks we the taxpayers PAY to 'administer' school loans, it will cost students less for a school loan, and it will cost taxpayers less in 'administration' costs.

You Regressives have no problem with socialism or welfare, as long as it is a handout to banks and Wall Street.

How did the Greeks, Roman, Egyptians, Assyrians, Babylonians, Aztecs, Mayans, Haudenoshaunees, Phoenicians, Sumerians and Israelites survive without a government run student loan program?

Well Frank, it looks like the Greeks used a system that today's Republicans copied. Aristocracy based.

Education in ancient Greece
Education played a significant role in ancient Greek life since the founding of the poleis till the Hellenistic and Roman period. From its origins in the Homeric and the aristocratic tradition, Greek education was vastly "democratized" in the 5th century BC, influenced by the Sophists, Plato and Isocrates. In the Hellenistic period, education in a gymnasium was considered an inexctricable prerequisite for participation in the Greek culture.

There were two forms of education in ancient Greece: formal and informal. Formal education was attained through attendance to a public school or was provided by a hired tutor. Informal education was provided by an unpaid teacher, and occurred in a non-public setting. Education was an essential component of a person’s identity in ancient Greece, and the type of education a person received was based strongly in one’s social class, the culture of one’s polis, and the opinion of one’s culture on what education should include.

Formal Greek education was primarily for men, and was, in general, not offered to slaves, manual laborers, or women. In some poleis, laws were passed to prohibit the education of slaves. A young girl would receive an informal education from her mother and would be taught how to maintain a household to serve her father and, later in life, her husband.[3] Women’s roles included managing the household, raising children, preparing food, and making textiles. One exception to this was in Sparta, where women were expected to run the polis while the men were away at war. Women in Sparta also received an informal physical education.

Greek education focused heavily on training the entire person, which included education of the mind, body, and imagination. The specific purposes of Greek education differed from polis to polis. The Spartans placed a high emphasis on military training, while the Athenians traditionally gave more attention to music, literature, dance, and later also to the natural sciences, such as biology and chemistry, as well as philosophy, rhetoric, and sophistry-the art of presenting an argument using deception and reason to persuade the public to agree with a certain point of view. The Spartans also taught music and dance, but with the purpose of enhancing their maneuverability as soldiers.

 

[KissMy]

I want to know what bill we are talking about & who is supporting it. Give me a name of a TEA Partier that supports this bill.

You can't think of a single Tea Partier who supports "repeal-and-replace", i.e. some version of H.R. 5424 (which of course will have to be re-introduced next session as this bill expires in a few months)?

 

[KissMy]

Better go eat your Wheaties...you are having trouble keeping up.

From the OP:

"Fiscal conservatism," anyone?

It was always hypocritical to slam a bailout that they and their party initiated. But it turns out they were just warming up. Now they're trying to pull a fast one on the American public, tapping Tea Party rage about big government spending even as they prepare to slip the big bankers some big bucks. They're planning to siphon off $90 billion meant for America's college students and their families and give it to Wall Street.

Any Tea Partier who votes for these guys is being played for a sucker.

I can't make heads or tails of that stupid BS article. It is a bunch of Maddow & Olberman style inventing strawman & shadow boxing. Sounds like it was invented by the Democrats favorite cash cow the GSEs.

I want to know what bill we are talking about & who is supporting it. Give me a name of a TEA Partier that supports this bill.

Forget the 'Wheaties', you will probably hurt yourself climbing up to reach the box. Here's a better idea. On Monday, go ask your teacher between milk & cookies and nap time.

[ame="http://www.youtube.com/watch?v=ZUJDKUDI0cY&feature=related"]Shadow Boxing Dummies[/ame]

 

[Greenbeard]

Is the Tea Party no longer on the "repeal-and-replace" train? Or are they just unaware that this involves an $80 billion gift to the banking industry on the backs of college kids?

 

[KissMy]

Is the Tea Party no longer on the "repeal-and-replace" train? Or are they just unaware that this involves an $80 billion gift to the banking industry on the backs of college kids?

Read the bill summary you linked to. I has not a word about student loans in it.

 

[Full-Auto]

Is the Tea Party no longer on the "repeal-and-replace" train? Or are they just unaware that this involves an $80 billion gift to the banking industry on the backs of college kids?

Read the bill summary you linked to. I has not a word about student loans in it.

LOL BUT BUT BUT

 

[Greenbeard]

Read the bill summary you linked to. I has not a word about student loans in it.

It's a repeal bill. See where it says "To repeal. . .the Health Care and Education Reconciliation Act of 2010"?

That means that their proposal involves taking the "education" part of the the Health Care and Education Reconciliation Act of 2010 and undoing it. And that education part happens to involve, among other things, the termination of FFELP.

When you repeal legislation that cuts an $80 billion subsidy to the banks and puts it into new student loans for kids, you're giving the banks an $80 billion gift on the backs of kids.

 

[Revere]

Both Obamacare and the government takeover of the student loan program should be repealed.

This is unreasonable?

The Republican repeal plan wouldn't just put tens of billions of public dollars in bank coffers. It would also raise the maximum amount a graduate is forced to pay each year from 10 percent to 15 percent of income. And it would extend the length of time before their debt is forgiven from 20 to 25 years.

What are we? France? Greece?

 

[Bfgrn]

Is the Tea Party no longer on the "repeal-and-replace" train? Or are they just unaware that this involves an $80 billion gift to the banking industry on the backs of college kids?

Read the bill summary you linked to. I has not a word about student loans in it.

H.R.5424 -- Reform Americans Can Afford Act of 2010 (Introduced in House - IH)

A BILL

To repeal the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010

---------------------------------------------------------------------------
Making College More Affordable | The White House

Making College More Affordable

The Health Care and Education Reconciliation Act represents a historic investment in higher education – expanding educational opportunity for America’s students and families. The legislation strengthens the Pell Grant program, invests in community colleges, extends support for Historically Black Colleges and Universities and other Minority Serving Institutions, and helps student borrowers manage their student loan debt. It pays for these investments while reducing the federal deficit by ending government subsidies currently given to financial institutions that make guaranteed federal student loans.

 

[editec]

You simply cannot have a reasonable discussing about economics with Progressives because they believe that the US Government IS the economy and everything else is just "Wall Street, Booooosh and Fox News"

Hey Frank, this is SIMPLE economics 101. By eliminating the 'middle man'; the banks we the taxpayers PAY to 'administer' school loans, it will cost students less for a school loan, and it will cost taxpayers less in 'administration' costs.

You Regressives have no problem with socialism or welfare, as long as it is a handout to banks and Wall Street.

How did the Greeks, Roman, Egyptians, Assyrians, Babylonians, Aztecs, Mayans, Haudenoshaunees, Phoenicians, Sumerians and Israelites survive without a government run student loan program?

Primatively and not all that well.

 

[Revere]

Eliminating the private sector guarantees nothing.

Students at some career colleges won't even be able to get loans.

 

[editec]

Both Obamacare and the government takeover of the student loan program should be repealed.

This is unreasonable?

Yes.
The government didn't TAKE OVER the student loan program the government invented it.

The Republican repeal plan wouldn't just put tens of billions of public dollars in bank coffers. It would also raise the maximum amount a graduate is forced to pay each year from 10 percent to 15 percent of income. And it would extend the length of time before their debt is forgiven from 20 to 25 years.

What are we? France? Greece?[/quote]

Government insured Student loans are forgiven?

I didn't know that.

Under what circumstances?

 

[CrusaderFrank]

Hey Frank, this is SIMPLE economics 101. By eliminating the 'middle man'; the banks we the taxpayers PAY to 'administer' school loans, it will cost students less for a school loan, and it will cost taxpayers less in 'administration' costs.

You Regressives have no problem with socialism or welfare, as long as it is a handout to banks and Wall Street.

How did the Greeks, Roman, Egyptians, Assyrians, Babylonians, Aztecs, Mayans, Haudenoshaunees, Phoenicians, Sumerians and Israelites survive without a government run student loan program?

Well Frank, it looks like the Greeks used a system that today's Republicans copied. Aristocracy based.

Education in ancient Greece
Education played a significant role in ancient Greek life since the founding of the poleis till the Hellenistic and Roman period. From its origins in the Homeric and the aristocratic tradition, Greek education was vastly "democratized" in the 5th century BC, influenced by the Sophists, Plato and Isocrates. In the Hellenistic period, education in a gymnasium was considered an inexctricable prerequisite for participation in the Greek culture.

There were two forms of education in ancient Greece: formal and informal. Formal education was attained through attendance to a public school or was provided by a hired tutor. Informal education was provided by an unpaid teacher, and occurred in a non-public setting. Education was an essential component of a person’s identity in ancient Greece, and the type of education a person received was based strongly in one’s social class, the culture of one’s polis, and the opinion of one’s culture on what education should include.

Formal Greek education was primarily for men, and was, in general, not offered to slaves, manual laborers, or women. In some poleis, laws were passed to prohibit the education of slaves. A young girl would receive an informal education from her mother and would be taught how to maintain a household to serve her father and, later in life, her husband.[3] Women’s roles included managing the household, raising children, preparing food, and making textiles. One exception to this was in Sparta, where women were expected to run the polis while the men were away at war. Women in Sparta also received an informal physical education.

Greek education focused heavily on training the entire person, which included education of the mind, body, and imagination. The specific purposes of Greek education differed from polis to polis. The Spartans placed a high emphasis on military training, while the Athenians traditionally gave more attention to music, literature, dance, and later also to the natural sciences, such as biology and chemistry, as well as philosophy, rhetoric, and sophistry-the art of presenting an argument using deception and reason to persuade the public to agree with a certain point of view. The Spartans also taught music and dance, but with the purpose of enhancing their maneuverability as soldiers.

And they lasted a lot longer than we will.

The Greeks needed a 2,000 page health care bill to improve their civilization, right?

 

[CrusaderFrank]

Hey Frank, this is SIMPLE economics 101. By eliminating the 'middle man'; the banks we the taxpayers PAY to 'administer' school loans, it will cost students less for a school loan, and it will cost taxpayers less in 'administration' costs.

You Regressives have no problem with socialism or welfare, as long as it is a handout to banks and Wall Street.

How did the Greeks, Roman, Egyptians, Assyrians, Babylonians, Aztecs, Mayans, Haudenoshaunees, Phoenicians, Sumerians and Israelites survive without a government run student loan program?

Primatively and not all that well.

No point in arguing with an idiot

 

[Bfgrn]

Both Obamacare and the government takeover of the student loan program should be repealed.

This is unreasonable?

The Republican repeal plan wouldn't just put tens of billions of public dollars in bank coffers. It would also raise the maximum amount a graduate is forced to pay each year from 10 percent to 15 percent of income. And it would extend the length of time before their debt is forgiven from 20 to 25 years.

What are we? France? Greece?

Unreasonable?

Is unreasonable for taxpayers to spend LESS to 'administer' government loans?

Is unreasonable for college students to spend LESS for college loans?

So, because we are America, taxpayers should spend MORE to 'administer' government loans? And, because we are America, college students should spend MORE for college loans?

WHY???