I understand why you think this. After all student loans are for the greater good right? They are used to promote valuable trades this nation is so deeply in need of.
Perhaps we should give every student, black, white, asian hispanic all creeds the ability to go to school for anything they choose? Hell you and I will fund the whole thing. And every year that we do, we’ll see the rates at the colleges continue to increase. After all many schools are a free-market system right? So we keep raising rates until we can’t fill our metrics then we back down.
Only problem with the above is it’s complete rubbish. How can the system back-down when free money keeps flowing in.
We shouldn’t have zero interest loans for schools without a closed loop in place. But that means even more regulations. (Which I oppose) A closed loop meaning that the schools would have to maintain a consistent head count, costs should be reduced by 3-5% per year based on employee productivity gains. And the person who takes the loan MUST repay the loan, plus provide (N/2) of community service. Where N is the number of years they went to school using public funding. Sounds fair doesn’t it? Even a cripple can volunteer time at a library to tutor English, after-all they are college graduates!
I do agree with your latter thoughts, but just saying having the “LOWEST POSSIBLE INTEREST RATES” is a scam waiting to happen and it happens every day.
The market must be allowed to work and using public funds to fuel the furnace which provides funds to lobby and special interest is incestuous at best.
Romney is doing what Romney does... Nothing. He leads on NOTHING, He proposes NOTHING, he runs the circles to make sure his answers will poll well, He is a damn disgrace to EVER have the (R) next to his name, and he is about as conservative as Jesus was a Nazi.
Newt is it for the hope of not only the party but also of leadership. But I believe the party must be remade, and the reforging of principles burned and folded within the candidates, and rekindling of service before self to our nation.
Honestly I can’t envision Romney being able to beat Obama. When the Dems start their targeted ads they won’t be nice, but they will probably be accurate. And the general mass of uninformed Americans are going to wonder how the candidates differ. This will be appealed by Obama agreeing that they really aren’t so different... and that it’s Good to see such progressive views from his friends across the isle... Then Obama will cater to the matters at hand and the need for swift action... He’ll appeal to the long cycle to come-up to speed with national matters... identify that he’s spent xx years in Federal service and understands how to get things done... communicate that Obamacare was the start... and now we’ll make it better... but we got it done... (similar I might add to our good friend from MA) I could go on-and-on... it’s going to play out like the above is my guess...
People are blinded...
Roll Back public student loans, force repayment, and do it now. Keep the loans only for specialty programs where we are deficient in filling jobs with candidates. Institute Trade schools, invigorate the need for community college at the STATE level, Have students work through school. There are a number of schools that do this as a method of internship/mentoring where students come out not only well armed to tackle the profession but damn near debt free, IT WORKS!
That’s my .25 cents,
I believe the discussion is MARKET RATE loans. You do realize that education loans are not dischargeable in court which means they are the next best thing to a loan backed by collateral. That means they should command rates very nearly as low as your best mortgage rates ~ which, in fact, are currently lower than education loans.
Removing the cap on education loans (which are capped, not those which aren't) ought to result in no change at all.
NOTE TO SELF: Education loans not currently as low as the lowest education loans should have their rates reduced substantially!