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

[editec]

Private banks ought NOT be the in the business of making student loans.

That responsibility morally falls to the government.

 

[Gremlin-USA]

Private banks ought NOT be the in the business of making student loans.

That responsibility morally falls to the government.

Why should it fall on the Tax Payer?, I don't Trust these students to pay the money back either

Work 2 jobs and pay for your Schooling like most of my friends and I did

.

 

[Too Tall]

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 Tennessee 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

Good read, however I question why it would cost $160,000 to prepare for a career as an emergency room nurse.

According to the National Center for Education Statistics, the difference between tuition and the net cost less financial aid at public two-year colleges is not that significant, relatively speaking: roughly a few thousand dollars. But looking at private nonprofit four-year schools, that figure jumps dramatically, to almost $20,000. The average annual tuition (plus expenses) at a private nonprofit four-year college is about $35,000. Click around below to see how the numbers stack up.

The Average Cost of a U.S. College Education - US News and World Report

 

[CrusaderFrank]

Private banks ought NOT be the in the business of making student loans.

That responsibility morally falls to the government.

Same as underwriting home mortgages, only the government should just credit worthiness.

I don't know why the government doesn't make car loans too

 

[KissMy]

Private banks ought NOT be the in the business of making student loans.

That responsibility morally falls to the government.

Same as underwriting home mortgages, only the government should just credit worthiness.

I don't know why the government doesn't make car loans too

The government is backing Ally Bank/GMAC auto loans.

 

[Goodoledays]

It'll be interesting hearing who you Obamabots blame when the college loan bubble bursts and america becomes even more crippled financially since kids aren't repaying their loans.

I am sure they will blame it on Romney a few years down the road after he is elected


.

For SURE. Just like they blame everything they do wrong now on Bush.

 

[Goodoledays]

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

What? Did you Change sides, we all know the Democrats started the whole financial mess

.

huh?

Whats the matter? Did the truth stun you again?

 

[Goodoledays]

remember when rderp wasn't a complete fucking hack?
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I don't.

nope!

 

[Goodoledays]

Mr. Shitman has a brand new box of crayons.

And I bet the taxpayer paid for them.

 

[Goodoledays]

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...

Well if Ubama would start thinking about true Americans first instead of handing free outs to Illegals it might have a chance.

 

[Mr. Shaman]

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

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

What.....you just heard about that??!!!

Money, Power & Wall $treet​

 

[tjvh]

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

By all means, there is no room for fiscal responsibility when someone decides they need to further their own education. Preposterous.

 

[Moonglow]

student loans should be low interst loans. When the banks controlled the loans the rate and interest were unnecessarily high, causing more defaults. With the govt running it, there is lower interset and no fees, and you can renegotiate the loan to fit your budget.
It is much better under govt. care. I have had both types of loans for college.

 

[Moonglow]

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

By all means, there is no room for fiscal responsibility when someone decides they need to further their own education. Preposterous.

student loans can't be used in bankruptcy, the loans if not paid can be taken out of tax retuns and paychecks. there is no way to write off the note or making it an uncollectable loan.

 

[Amazed]

Private banks ought NOT be the in the business of making student loans.

That responsibility morally falls to the government.

Same as underwriting home mortgages, only the government should just credit worthiness.

I don't know why the government doesn't make car loans too

The government is backing Ally Bank/GMAC auto loans.

It's worse than that.....they have taken over the Credit Rating companies....they are forcing GM to..get ready for it.....issue subprime auto loans......

Key Driver

GM Financial auto loans to customers with FICO scores below 660 rose from 87% of total loans in Q4 2010 to 93% in Q1 2012.

The worse the FICO score, the bigger the increase. From Q4 2010 to Q1 2012, GM Financial loans to customers with the worst FICO scores — below 540 — shot up 79% to more than $2.3 billion. The second worst category, 540-599, rose 28% from about $3.4 billion to $4.3 billion.

Prime loans, those above 660, dropped 42% to $676 million.


GM Ramps Up Risky Subprime Auto Loans To Drive Sales; Taxpayers Still Own 26.5% - Investors.com

President pig fucker is at it again.

 

[Againsheila]

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

When I was in highschool, I tutored at a local elementary school one hour a day. The teacher had 36 students in her class. Several of them working below and above grade level. She had 2 students I now know were adhd. Every single day, she'd write a not to their parents and personally stick them in the kids pockets (this was before kids took backpacks to school). When my son was in first grade, he was diagnosed with ADHD and I asked the teacher to send a note home with him every day. Her answer? I have 21 other students, I don't have time. Somehow, I don't believe a lower class size makes for a better education.