posted on 07/17/2013 6:04:33 PM PDT
"Democrats won a protection for students that rates would never climb higher than 8.25 percent"
Oh; the Interest Rates will go UP, alright, and Bankers will be made whole by fleecing the Taxpayer, as always, to buy the Student Vote with their money.
Republicans have no balls, and we have a one-Party System.
posted on 07/17/2013 6:07:31 PM PDT
(Amerika.....Providing public housing for the Mulatto Messiah)
The interest rates would be linked to the financial markets, but Democrats won a protection for students that rates would never climb higher than 8.25 percent for undergraduate students.
Back in the 80's my student loans were 9%.
posted on 07/17/2013 6:08:46 PM PDT
(The Slave Party, advancing indentured constituency for 150 years.)
Hocus pocus. Pay no attention to that man behind the curtain.
posted on 07/17/2013 6:10:17 PM PDT
by E. Pluribus Unum
(Who knew that one day professional wrestling would be less fake than professional journalism?)
Of course, they punt without solving the real problem: massive tuition inflation due to a never ending influx of government bennies. Take away the bennies, and the colleges will stop selling a piece of paper for $200,000 and offer reasonable and afforadable tuition.
posted on 07/17/2013 6:11:21 PM PDT
but Democrats won a protection for students that rates would never climb higher than 8.25 percent for undergraduate students
over the objection of Republicans who no doubt wanted to apply usury rates and deny the right of a college education to middle class families....
posted on 07/17/2013 6:11:34 PM PDT
("Bipartisan" Barf Alert)
Idiots. The best thing they can do is to get the hell out of the way and re-open the student loan market to the private sector.
posted on 07/17/2013 6:23:26 PM PDT
(BENGHAZI - 4 KILLED, 2 MIA)
Students who "accept" these loans use the same logic they do for home loans and car loans. A home is life long proposition as is a student loan. Car loans are something else altogether thought in that going from a base model to a mid-level model may add between $2000 and $4000 for the manufacturers cars such as a civic, sonic, etc.; the cost of financing the extra few thousand dollars is about $15 per thousand at 1.0%. I believe that Students who have only bought a car with those 0.9%, 1-2% or even a 3% car loan over 72 months maximum period are not fully aware of the cost of a Government backed student loan - most of these kids will not have the $400-500 a month to pay down $75,000 in debt. My son is attending East Carolina University and I had him do a survey of his friends; out of 25 kids, he and one other friend are the only ones without student loans. His two room mates both took out the max which was something like $17,000 last year, and they did the same thing the three previous years. One of the kids that graduated last year just found out that in order to pay it down and not tread water or go in the hole was going to take over $450 a month to service his 5 years of loans for his 4 year degree.
My other experience was with my boss in the State Department. He had student loans going back 17 years, and he told me at his age of 44 that he would be 56 years old when he paid them all off, and that was with the annual government assistance.
posted on 07/17/2013 6:51:31 PM PDT
Another victory for the Dems.
The whole end game of “Big Education” is massive donations to Democrat politicians from overpaid liberal profs and admins.
posted on 07/17/2013 6:57:46 PM PDT
(Baraq's economic policy: trickle up poverty)
Democrats own the Senate and John McCain. So why don’t they just pass a law that provides interest free student loans, since the government has taken over that industry? Could it be they love their revenue so much they’ll even screw the students they claim to love so much?
posted on 07/17/2013 8:00:09 PM PDT
Kick the can down the road.
posted on 07/17/2013 10:08:16 PM PDT
by headstamp 2
(What would Scooby do?)
more handouts and gifts and vote buying
posted on 07/17/2013 11:14:27 PM PDT
Senators Reach Deal on Student Loans
That's nice. Is the House going to weigh in?
Yet another instance of gov’t round-robin:
Gov’t sticks its hand where it’s not allowed
Area of interest soon turns to sh!t
Cries from those in said area of sh!t status
Gov’t makes worse area where it’s not allowed with ‘tweaks’
...rinse and repeat.
And, the GOP goes along for the ride. NEVER is the option/solution brought up ‘remove gov’t intervention’...Just WHERE is this ‘smaller gov’t’ party I keep hearing about?
posted on 07/18/2013 7:45:21 AM PDT
(We hold that all individuals have the Right to exercise sole dominion over their own lives - LP.org)
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