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Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
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This is a phrase that one politician- Mitch McConnell- seems to use quite a bit. Everytime the man is on TV, he always mentions "the government take over of student loans" and how he wants to reverse that.
I can see Americans now demanding that we reverse the government take over of student loans. College students all over America are saying "we demand you allow us to pay the big banks their 3% vig on our loans".
The FACT is that the government has ALWAYS ran student loans. The government gaurenteed them and the big banks made the loans at no risk at all to them and charged an extra 3 points interest on them. They profiteered at the cost of students and parents. If the big banks wish to make NON government backed student loans, they are still certainly free to do so.
Cut out the middle man and make loans cheaper for students.
Sounds fair to me.
However this is not expected to make student loans cheaper for students. It is just another way for the government to nationalize an industry and make money while growing the size of the government.
Oh, the nationalization of the student loan industry cost Sally Mae 2,500 jobs also added approx. $52 Billion to the federal deficit.
But, we know Obama isn't serious about Americans having jobs in the private sector anyway. Remember, he wasn't going to rest until...........
If this was such a good thing and "transparent" why was it buried in 2000+ pages of "healthcare reform" ?
However this is not expected to make student loans cheaper for students. It is just another way for the government to nationalize an industry and make money while growing the size of the government.
Oh, the nationalization of the student loan industry cost Sally Mae 2,500 jobs also added approx. $52 Billion to the federal deficit.
But, we know Obama isn't serious about Americans having jobs in the private sector anyway. Remember, he wasn't going to rest until...........
If this was such a good thing and "transparent" why was it buried in 2000+ pages of "healthcare reform" ?
I have continued to wonder what college student loans have to do with health care other than a sneaky way to take over that business and earn some votes from students who can't see what was done.
How many other interesting things will appear from that law that have nothing to do with health care? Many more, I am sure. As Nasty Nancy said, "We will have to pass it (the bill) to find out what is in it. We know that not one Congressman read the bill and not one debate was held on the floor of either house.
I have continued to wonder what college student loans have to do with health care other than a sneaky way to take over that business and earn some votes from students who can't see what was done.
How many other interesting things will appear from that law that have nothing to do with health care? Many more, I am sure. As Nasty Nancy said, "We will have to pass it (the bill) to find out what is in it. We know that not one Congressman read the bill and not one debate was held on the floor of either house.
? The student loans legislation wasn't inside the health care bill.
However this is not expected to make student loans cheaper for students. It is just another way for the government to nationalize an industry and make money while growing the size of the government.
Oh, the nationalization of the student loan industry cost Sally Mae 2,500 jobs also added approx. $52 Billion to the federal deficit.
You mean the privatization of the student loan industry, which made my loan a commodity and forcing me to run my creditor of the month down with a stick just to make payments? They tried to claim I was in default when their address changed half a dozen times and no notice given. It took an act of congress & HESC to straighten out and get my credit cleared up. Give me a break! They only shoved the responsibility part off on gov't and kept profits for themselves. How is this different from what they did with real estate? In hindsight I wish I knew what I was up against before I took those loans out but found out sadder and wiser what games these people were playing.
I have continued to wonder what college student loans have to do with health care other than a sneaky way to take over that business and earn some votes from students who can't see what was done.
One day you're bound to realize it's the sneaky banks causing the problems.
Cut out the middle man and make loans cheaper for students.
Sounds fair to me.
Cut the loans and education will become cheaper.
Why is that the university degree industry is the only one with sky high price rates?
Other industries have had to cut back, tighten their belts yet tuition just goes up and up and up. High volume isn't helping - more college students than ever and the tuition rates just climb and climb.
Why? Because they can.
Get the government out, let students get smarter about loans they make and prices could begin to fall.
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