Rs filibuster student loans refinance bill

[HelenaHandbag]

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.

No, we sure wouldn't, dumb ass.

Cost Of College Degree In U.S. Has Increased 1,120 Percent In 30 Years, Report Says

Thanks for proving my point.

If you still don't get it, check the source of your link.

Hint: its not faux, beck, limbaugh, jones, etc.

Are you drunk?

 

[Dont Taz Me Bro]

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.

What do Fox, Beck, Limbaugh, Alex Jones and the rest have to do with anything?

It's only something Dudley can understand.

 

[alan1]

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.

Are there any laws that currently prevent people from refinancing student loans at a lower rate of interest?
Are there any students that were unwillingly forced into taking a student loan?

If the answer to both of those questions is 'YES', then the government should get involved. The fact of the matter is that the answer to both of those questions is 'NO'.

 

[jasonnfree]

This Friday night the repubs have something to really celebrate at the beer bar happy hours. Drinks for everybody and enough hate to go around for everybody. Turn down the jukebox and turn up the volume on the T.V. Fox news is on!!! Shhh, Quiet everybody. We're witnessing victory over students trying to get an education.

 

[initforme]

The facts are a college education is the ONLY way to have a shot at making it to the middle class. There is another way...a strong back and weak mind... which will surely be taken advantage of by some slimeball company. Educate and find a skill that is in demand.... and stick it to those bosses who don't give into every one of your hiring demands.

 

[whitehall]

As Ronnie Reagan would say, "government is the problem not the solution". The dirty little secret is that "students" default on their loans so much that lenders can't make any money so they jack up the rates. It's the same deal as trying to get car insurance for a teenage kid in a metropolitan area. The government screwed up the mortgage industry and Fannie Mae collapsed when democrats decided that anybody should be able to get a mortgage without having to make those pesky payments so typically the Hussein administration doubles down and attacks the lenders rather than the people who contract for services rendered. Personally I think the Barry Sotoro administration should relieve me of my car payment debt.

 

[Dont Taz Me Bro]

The facts are a college education is the ONLY way to have a shot at making it to the middle class. There is another way...a strong back and weak mind... which will surely be taken advantage of by some slimeball company. Educate and find a skill that is in demand.... and stick it to those bosses who don't give into every one of your hiring demands.

Not even the slightest bit true. I know more than a few people who have done quite well for themselves without a post high school education.

 

[theHawk]

There is absolutely no reason a student should be given the same interest rate as people that have steady income since they don't even have a degree and no guarantees they will graduate, much less find a job afterwards, especially in the Hussein economy.


The Federal government should not be involved in student loans at all. It should be between the student and whoever is lending the money. But liberals want government in every aspect of American life.

 

[Luddly Neddite]

This Friday night the repubs have something to really celebrate at the beer bar happy hours. Drinks for everybody and enough hate to go around for everybody. Turn down the jukebox and turn up the volume on the T.V. Fox news is on!!! Shhh, Quiet everybody. We're witnessing victory over students trying to get an education.

And victory of the right that wants the US to fail. The less educated we are, the more other countries send their educated people here to take our jobs and that's what the right wants.

 

[Luddly Neddite]

There is absolutely no reason a student should be given the same interest rate as people that have steady income since they don't even have a degree and no guarantees they will graduate, much less find a job afterwards, especially in the Hussein economy.


The Federal government should not be involved in student loans at all. It should be between the student and whoever is lending the money. But liberals want government in every aspect of American life.

Didn't read the legislation, didja.

Sheesh.

 

[alan1]

The facts are a college education is the ONLY way to have a shot at making it to the middle class. There is another way...a strong back and weak mind... which will surely be taken advantage of by some slimeball company. Educate and find a skill that is in demand.... and stick it to those bosses who don't give into every one of your hiring demands.

Your "facts" are not facts at all.
My ex-wife has a bachelors degree, my youngest daughter has naught but a high school education. My daughter has almost twice the income of her mother. My daughter's income coupled with her new husbands income (he has 2 years of college education) puts them at the high end of middle class. Either one of their income's alone would put them solidly in the middle class. Both are in their mid 20's.

 

[alan1]

The facts are a college education is the ONLY way to have a shot at making it to the middle class. There is another way...a strong back and weak mind... which will surely be taken advantage of by some slimeball company. Educate and find a skill that is in demand.... and stick it to those bosses who don't give into every one of your hiring demands.

Not even the slightest bit true. I know more than a few people who have done quite well for themselves without a post high school education.

Let's remind initforme that Bill Gates, Steve Jobs and Mark Zuckerburg were all college dropouts. Facts.

 

[alan1]

This Friday night the repubs have something to really celebrate at the beer bar happy hours. Drinks for everybody and enough hate to go around for everybody. Turn down the jukebox and turn up the volume on the T.V. Fox news is on!!! Shhh, Quiet everybody. We're witnessing victory over students trying to get an education.

And victory of the right that wants the US to fail. The less educated we are, the more other countries send their educated people here to take our jobs and that's what the right wants.

Exactly how is not reducing ones educational loan rate preventing future education? Those loans are for education that has already happened.
Yer not very bright, are you?

 

[initforme]

"Let's remind initforme that Bill Gates, Steve Jobs and Mark Zuckerburg were all college dropouts. Facts"

Yup. 3 out of about 20 million. There were things my sons were not going to do if I had any say...

1). Hang around home at 18
2). Join the military
3). Work a low wage job that takes a long time to get to a good wage


Why? I did those things. Not smart of my part. I should have gone to college right out of the gate. Instead I worked for a furniture company for 15 years.... isn't that really pathetic? I gave a lot of effort for that company(which I really really regret now). But, my 2 boys went to school and started out in a lot better position than I was in when I was their age. So they saw how hard it is without a college education. They are each making 6 figures now which puts them in the lower or middle of the middle class.

 

[Dont Taz Me Bro]

"Let's remind initforme that Bill Gates, Steve Jobs and Mark Zuckerburg were all college dropouts. Facts"

Yup. 3 out of about 20 million. There were things my sons were not going to do if I had any say...

1). Hang around home at 18
2). Join the military
3). Work a low wage job that takes a long time to get to a good wage


Why? I did those things. Not smart of my part. I should have gone to college right out of the gate. Instead I worked for a furniture company for 15 years.... isn't that really pathetic? I gave a lot of effort for that company(which I really really regret now). But, my 2 boys went to school and started out in a lot better position than I was in when I was their age. So they saw how hard it is without a college education. They are each making 6 figures now which puts them in the lower or middle of the middle class.

Just because you did nothing with your life doesn't mean others will do the same. I have more than few friends with no college education making more than I do with an MBA.

And since when is six figures "lower middle class?"

 

[initforme]

I did something with my life...I worked hard for a slimeball sleazy company so my kids could go to college. That's what I did. Do I regret the effort I gave for the company? Who wouldn't?

 

[alan1]

"Let's remind initforme that Bill Gates, Steve Jobs and Mark Zuckerburg were all college dropouts. Facts"

Yup. 3 out of about 20 million. There were things my sons were not going to do if I had any say...

1). Hang around home at 18
2). Join the military
3). Work a low wage job that takes a long time to get to a good wage


Why? I did those things. Not smart of my part. I should have gone to college right out of the gate. Instead I worked for a furniture company for 15 years.... isn't that really pathetic? I gave a lot of effort for that company(which I really really regret now). But, my 2 boys went to school and started out in a lot better position than I was in when I was their age. So they saw how hard it is without a college education. They are each making 6 figures now which puts them in the lower or middle of the middle class.

I scrimped and saved so that both of my daughters could go to college. Neither did. Both have good incomes. And i have more for my retirement.
Your statement,

The facts are a college education is the ONLY way to have a shot at making it to the middle class.

remains false.

 

[waltky]

Car loans taking priority over student loans...

Banks Shed Student Debt to Fund Car Loans: New Crisis Looming?
Sep 11, 2014 — Recent graduates aren’t the only ones feeling the burdens of student debt. There’s an increased interest from banks and financial institutions to rid themselves of government-guaranteed student loan assets.

“There’s a lot of sell portfolios sitting on bank balance sheets,” said Brendan Sheehy, director of financial institutions at Fitch Ratings. Case in point: On July 11, Wells Fargo & Company revealed it had transferred its $9.7 billion Federal Family Education Loan Program (FFELP) portfolio to held-for-sale during the second quarter. That announcement followed a move from CIT Group CEO John Thain, who in April sold his company’s $3.6 billion FFELP portfolio to federal loan servicer Nelnet Inc. All told, large U.S. banks that could eventually sell FFELP assets, including Wells Fargo, JP Morgan Chase , Bank of America and U.S. Bancorp. own approximately $24 billion of government guaranteed loans. Brazos Group , PNC , Access Group, SunTrust and Northstar Guarantee also have sizable FFELP portfolios to sell off.

Why now? New regulatory requirements have made student loan assets less lucrative for banks and more burdensome. And though banks had been hesitant to sell their federal student loan portfolios because of the dearth of opportunities to reinvest money from potential sales, that’s changed. Improved prospects in core businesses – particularly auto loans – and greater interest from potential buyers have compelled more banks to explore potential sale opportunities with student loan servicers.

But that scenario could spell danger: in light of the student loan crisis and the looming potential for a subprime auto loan crisis, sales of assets from one crisis could be fueling another. Auto loans to people with subprime credit – those who have credit scores under 640 – have jumped 130% in the last five years. Banks, in turn, are looking to capitalize on that demand by putting money from FFELP sales toward subprime auto loans, with high rates and robust profits investors like to see.

Student Loan Run-Off

See also:

Students from Low-Income Families Face Particular Challenges At School
Sep 12, 2014 — The No Child Left Behind Act has been the subject of much controversy in the decade since its implementation. Despite the fact that there has been indication that some of its negative stigma is exaggerated, a new study has found that NCLB might be adversely affecting how and what students learn according to class size and racial demographics.

Namely, new research out of the University of Kansas that was recently presented at the 109th Annual Meeting of the American Sociological Association finds that students in schools with larger class sizes and a larger proportion of African Americans might not be learning as many skills as other schools. "The skills students are expected to learn in schools are not necessarily universal," said the study's lead author Argun Saatcioglu, a KU associate professor of education and courtesy professor of sociology.

Specifically, Saatcioglu’s research suggests that some schools may be cutting back on the skills they are teaching their students in an effort to increase their test scores and avoid the negative consequences of failing to meet the federal standards set by the NCLB, which can include funding cutbacks and even school closures. "Narrowing the skills students are expected to learn, results in higher proficiency gains on state assessments because students have to be proficient in fewer skills," said Saatcioglu in a press release. "In other words, requiring students to learn less actually helps to improve state assessment results."

NCLB was enacted in 2001 under George W. Bush as an update to the Elementary and Secondary Education Act of 1965, a federal law authorizing spending on programs to support K-12 education based on requirements for testing, accountability and school improvements. Since then, there has been a lot of conflict among policymakers about its effectiveness, with some arguing that it causes instructors to only “teach to the test” without consideration for creating a more inclusive and comprehensive learning experience.

In order to come to his conclusions, Saatcioglu analyzed fourth graders' performances on state assessments and compared it to their performances on the National Assessment of Educational Progress (NAEP) exam between 2003 and 2009. A decline in the correlation between student performance on a state's assessment and the NAEP usually suggests that the tests are not measuring the same skill set. "If a state's assessment is more comparable to the NAEP, that means the state expects its students to have mastered more skills," Saatcioglu said. "If a state's assessment becomes less comparable, in that the exam measures fewer skills and hence is less demanding than NAEP, then the state's proficiency scores are likely to rise."

MORE

 

[Stephanie]

I think you Democrats should take up a fund and pay for them out your OWN pockets you're so worried over it

 

[GHook93]

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.

Are there any laws that currently prevent people from refinancing student loans at a lower rate of interest?
Are there any students that were unwillingly forced into taking a student loan?

If the answer to both of those questions is 'YES', then the government should get involved. The fact of the matter is that the answer to both of those questions is 'NO'.

The answer is Yes to the first one. Basically you can't finance to the lower rates because of a law and clause within Obamacare (yes the healthcare law).

With college costing over $100K now-a-days it would be nice to say just pay for it, but in reality one must take out student loans to go to college. College is a necessity to get a good job, but it sure helps.

I am moving more and more toward the government granting each kid a certain amount of money for college and capping what state schools can charge. Run colleges like charter schools. Have no residency discounts, but have kids complete applications the same way they do now. No preference to race or religion.

I hear the screams now. Socialized schools have destroyed K-12 in this country. Rubbish. Liberal policies in the inner cities have destroyed K-12. However, some of the best k-12 schools in the every state are public and charter schools.

Take IL, top 10 schools are all PUBLIC (aka government funded) not private school 5 are public selective enrollment magnet schools and 5 are you typical public school. Heck the top 50 are public schools.

Search Illinois High Schools US News

I know I know it's not your job to pay for other people's kids education, but too bad. An educated society is something we need to strive for. We are losing and we need to recognize that!