Posted on 03/30/2010 7:31:40 PM PDT by kristinn
1. Encourage private sector through mandates or intimidation
2. Subsidize private sector
3. Remove “middleman”
In a few years the Dems will get rid of unnecessary insurance middlemen.
Exactly. See my post above yours.
Oopsie.
Well, there will be 16k jobs at the IRS soon. May well send an application in for one of those.
I’m beginning to think you should post that as a separate thread....about private sector being just “middlemen”
The interest is higher and other terms are inferior to those of the Sally Mae administered loans. And Obama plans to use the difference in interest collected to pay for other entitlements. He probably thought the students would be too dumb or misinformed to recognize this. I think he’ll pay a price for this.
He'll move offices to various large democrat cities, hire 10,000 locals, and start them at $100k. After a year of training and totally disastrous screw ups, his job savings will have cost $1 billion.
I wonder how many of those 2500 voted for Obama
Nationalizing the industry is another step towards communism but I’m not so sure I believe these folks. My student loan is with them. Every time I’ve called in the last 6 months I’ve spoken with someone in India.
Not only will you have to go to the govt for a student loan, but they will now have control over you. They will require our kids to attend indoctrination sessions. Don’t buy into global warming? No student loan for you.
Same is true of the health care bill. Legislators never include administrative costs in the "savings" or "cost" calculations.
I am against the govt subsidizing education loans, but the fact is they do. In fact, 80% of student loans come directly from the USG. The banks keep the interest, yet the govt takes any losses.
Despite my ideological difference, this is a good change to the way things are done.
Yes, I know that some jobs will be lost, but if we are against increased federal debt then this is a positive way to reduce govt spending by billions each year.
Your post sums it all up.
Cannot wait for November!
what do you expect when so many people whom are stupid vote for a pantywaist pissant. what up the secret deal with the north dakota bank that is exempted from the student loans. How about the student loans through the Minnesots based company whose records were compromised recently.
the wonderful psychopaths are now in charge. A monorail from Disney World (fantasy land) going full speed ahead, even though there is a break in the track, crash and derails . Victims what victims, so many voted for the garbage they deserve it.
He promised change. change you will get unemployment food lines and so forth.
The conservatives were right. I told you so.
“Thanks Hussein and Evan Bayh, Joe Donnelly, Brad Elsworth, Baron Hill, et. al.”
I will be donating money for their opponents.
How’s that “laser focus” workin out for ya?
Go listen. Not only that, he said that we gave billions to the banks which could have been used for students to go to college—well, duh, isn’t that where these billions given to banks to provide student loans went? If not, then the laws were written wrong. If so, and govt will now be providing this money to students cheaper, why do we need to DOUBLE Pell Grants?
He said that millions of these billions went to line the pockets of fatcat bankers. How stupid! If anything, they lent those millions out to make even more money to line their pockets with. They wouldn’t just take it!
And anyways, because I don’t really know, did the USGovt actually give the money to the banks to lend, or did they just back (guarantee ) the loans?
Got a pic of the toro that depantsed the toreador a couple years back? That would be just as appropriate.
“There is only one other bank in the nation that will be allowed to make student loans other than the government and that bank is located in ND ( in a district where Zero needed a vote for his health care).”
That provision got stripped from the legislation. There are no banks that will be making federal student loans.
This can’t really be seen as ‘government takeover’. The program that was eliminated is called the FEDERAL Family Education Loan Program. It was already federal.
And Sallie Mae will still be able to make as many private student loans as they want and can afford to provide, at whatever rate they want to provide to low or no income 19 year olds. They just can’t participate in the federal loan program and collect taxpayer money. Plus, Sallie Mae has already scored a fat contract to provide servicing on the back end of these federal loans. They are no victim.
How’s that hope and change working out for you, Sallie Mae employees?
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