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

[Quantum Windbag]

Nationalize Student Loans - Socialism

All the Republican "experts" said is was another step towards "socialism". And what was actually happening.

No. Apparently, Google doesn't either, so I don't feel bad.

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.

I don't remember that either, do you have another link to a google search that will turn up nothing?

So Democrats "nationalized" student loans but no one was watching because everyone was watching "Obamacare", that terrible program that helps millions of Americans.

Why is nationalized in quotes?

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".

That is funny.

The truth is that the interest on student loans is a wash for the government because you get to deduct it from your income tax. In fact, no one I ever read even hinted that student loan interest would pay for Pell Grants. There was an increase in Pell Grants in Obamacare, but most experts said it needed to be bigger to make a real difference.

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.

That must be why Romney and Boehner want to keep the rates lower.

Wait, what did I just say?

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.

And?

-------------------------------------------------------

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

And a lot of rich ex-students will have to pay an extra $10 a month for the great job they got with their education. How sad.

 

[Harry Dresden]

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

here we go.........

 

[Remodeling Maidiac]

Remember when rderp wasn't a complete fucking hack?
....
...........
....................

I don't.

 

[flacaltenn]

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.

-------------------------------------------------------

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

after 6month hiatus, I find the Same ole Rdean --- am I lucky or what?

There is no clearer validation of the premise that the Dems and Obama have embraced Socialism than this. The "forgiveness" policies, the new pay-back schedule that is dependent on how many infants you can crank out, the enticement into public service to wipe out the loan amount ---- it all points to "from each according to their ability, to each according their need"...

This will absolutely blow up as a give-away program, inflate the cost of education, and redefine the meaning of "a loan". There's new incentive to make bad choices in majors, be lazy in your pursuit of a job after graduation, and settle for a GS7 starting position in a Dept that shouldn't even exist.. Congrats. If you think this is the party of Kennedy or FDR --- you'd be sorely snookered. FDR would even recognize this as unsustainable...

 

[Remodeling Maidiac]

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

here we go.........

[ame=http://www.youtube.com/watch?v=ZLk75fFXqH4&feature=youtube_gdata_player]Five Finger Death Punch - Under And Over It - YouTube[/ame]

 

[Quantum Windbag]

Remember when rderp wasn't a complete fucking hack?
....
...........
....................

I don't.

I was about to ask if that was before I got here, but I got here first.

 

[KissMy]

 

[Remodeling Maidiac]

This is just the set up so Obama can fly in and save the day just before the elections by proposing to forgive student loans.

 

[Avorysuds]

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.

-------------------------------------------------------

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

The free market cures all ills you commie scab! If government could just GET OUT of the way of subsidized student loans and pell grants - the free market would make those things work better!

I agree... At least you understand the position of the other side.

 

[Avorysuds]

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

I dono TM, why do you?

 

[bigrebnc1775]

Remember when rderp wasn't a complete fucking hack?
....
...........
....................

I don't.

no

 

[g5000]

Nationalize Student Loans - Socialism

All the Republican "experts" said is was another step towards "socialism". And what was actually happening.

You want to know what is really happening?

The rate of defaults on student loans is increasing. And since the taxpayer is funding those loans and not banks, guess who eats the losses?

I'll give you a hint. It isn't the banks.

The new report primarily focuses on the nearly 1.8 million borrowers who entered into repayment on loans obtained through the (now defunct) Federal Family Education Loan Program in 2005 during their first five years of repayment. It details the rates at which borrowers entered not only into default, but also into deferment (a temporary suspension of loan payments for specific situations such as re-enrollment in school, unemployment, or economic hardship); forbearance (temporary suspensions of a borrower's payments because of financial difficulty made at the discretion of the lender); and delinquency (late payment on a loan).

[Learn the 11 steps to relief from federal student loans.]

Overall, only 37 percent of the borrowers in the study managed to repay their student loans throughout the study period without postponing payments or becoming delinquent. Another 7 percent entered into deferment because they re-enrolled in school. A majority, 56 percent, apparently had difficulty making timely payments on their loans.

Avoid Loan Delinquency and Default - Student Loan Ranger (usnews.com)

 

[g5000]

Meanwhile, President Obama's deficit reduction plan (see page 28 of the PDF) proposes allowing private debt collectors to call cell phones to collect debts either owed to or guaranteed by the federal government, including student loans.

Currently, debt collectors can independently call cell phones, but only after checking a list of known cell phones and only if the number has been provided as a way of reaching the borrower.

If this proposal becomes law, the debt collection industry—which received 140,000 Federal Trade Commission complaints in 2010, more than any other industry could begin robo-calling the cell phones of delinquent student loan borrowers.

Congress Cuts, Obama Attempts to Collect as Loan Default Rates Rise - Student Loan Ranger (usnews.com)

 

[Claudette]

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.

Thats the reason Bush I stopped the student loan program.

The loans were not being payed back leaving the taxpayers footing the bill for some smarmy little college grads degree.

Clinton reinstated the program when he took office.

If you want to go to college then get off your ass and put yourself through college.

Nowhere in the constitution does it say the taxpayer has to foot the bill for someone to go to college.

 

[Dr.Drock]

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.

Thats the reason Bush I stopped the student loan program.

The loans were not being payed back leaving the taxpayers footing the bill for some smarmy little college grads degree.

Clinton reinstated the program when he took office.

If you want to go to college then get off your ass and put yourself through college.

Nowhere in the constitution does it say the taxpayer has to foot the bill for someone to go to college.

I don't blame illegals for the illegal immigrant problem, i don't blame poor people for welfare, i don't blame college kids for the college loan problem.

I put all the blame on our 2 parties and bureacrats.

 

[signelect]

The government shoud not guarantee anything. If you can get a loan to go to school try getting a job, I heard just last week that the private sector was doing just fine. We loaned money to people to buy houses that they couldn't afford and I don't care what party did it is was wrong and I am paying the price. Obama wants to have the government run everything. Even if it would work, which it won't, he doesn't know how to do that either. If congress hadn't stolen my SS trust fund which was aganist the law I would tell them to get out of that too but I want my money back. I won't need it for long because with the Obama health plan they will tell me that I am too old to waste money extending my life.

 

[flacaltenn]

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

The banks did what they needed to assure payback.. The govt EXCUSES defaults and removes the word from the vocabulary.. Replacing it instead with "from each according to his ability, to each according their need"..

Pure socialism.. Look at the "payback schedule" depends on what you make, how many kids you pop up.. NOT the bad decision to spend $80K on a Women's Study degree. If you work for the FEDS -- no debt.. So many incentives for irresponsibility..

Who WOULDN'T want a PAID 4 yr break at a fun campus knowing that you're gonna end up driving a cab anyways.. No damage. There's hardly a loan to pay back.. Just fond memories of smoking pot, getting laid and shooting pool..

SURE -- this is gonna improve things.. I give it 16 years before it completely blows up.. Won't even last as long as Soc Sec...

RDEAN --- If you think Americans are THIS STUPID -- you're in for a very rude dissapointment.

 

[Jarhead]

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.

-------------------------------------------------------

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

you know....if the government guaranteed a comfortable lifestyle for every American and every undocumented immigrant, it would be helping MILLIONS of people.

But the only way to acheive it is socialism.

Just becuase something helps millions of people, doesnt mean it is the American way.

Think about it you fucking idiot.

 

[Mr. Shaman]

It's like when the government guaranteed loans for people going to train in beauty schools.

I'm sure you can provide the title of the legislation that established those beauty-school scholarships.

 

[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?

You Teabaggers are always the last to hear the details from the Real World.​

The Inside Story Of The Global Financial Crisis
aka
Allowing The Marketplace To Regulate Itself​

​