Obama to launch student loan interest rate effort
April 20, 2012 at 4:19 am in Grand Forks Herald
The interest rate on a popular federally subsidized student loan will double in July unless Congress acts. The rate hike affects new subsidized Stafford loans, which are issued to low and middle income undergraduates. Continue Reading
Obama is on the right side of this issue, but I’m sure that Congress will find a way to screw it up just to spite him.
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Yeh, that pesky Congress…they may try to figure out how to pay for another giveaway.
Margaret Thatcher said it best:
“The only problem with socialism, is that eventually, you run out of other peoples money.” or words to that effect.
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If it were me, I’d act to END government subsidies of first- and second-year college students. Let them show some initiative and commitment on their own before throwing tax money at them.
We have far too many freshmen and sophomores in college as-is. Too many of ‘em are not mature enough to take it seriously; they’re only in college because someone else expects them to be there.
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Hey, here is a novel idea, that I guess was never considered by either candidate.
Join the military for the GI Bill.
Or, maybe work your way through college.
Or, cancel the loan guarantees. That would make banks and institutuons a lot more selective on who they decided to loan their money.
Problem is, now, anyone can get a loan for college, but not everyone can perform at the college level…but the bank and college proferssors don’t care, cause the US Government will take every nickel these naive students earn until the banks and professors get paid. Work at McDonalds to pay back that 30 thousand dollar loan…see how long that takes.
Sweet deal. For the education cabal.
At least Kelley will keep his 330K….it is guaranteed.
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