Posted on 02/06/2014 7:32:35 AM PST by SeekAndFind
Elizabeth Warren wants paying for college to be like paying for a car.
No, she doesn’t want mandatory airbags in colleges or Presidents’ Day sales on tuition. Instead, the senator from Massachusetts wants students to be able to refinance federal student loans.
Unlike a loan to pay for a house, a vehicle, or just about anything else your heart desires, you can’t refinance a student loan. The result is that student loans have become a rare way for the federal government to generate revenue, making $66 billion in profits off them between 2007-2012. Warren told The Daily Beast that she is discussing legislation with colleagues that would allow students to refinance their federal loans at rates currently offered to new borrowers. The legislation will be introduced in the coming weeks as Warren continues to work with other senators from both parties on the exact language.
Warren has long been working to reduce the $1.2 trillion in student loan debt currently held by Americans, seeing it as deeply problematic that the federal government makes a huge profit on student loans. In her opinion that “does not reflect our values” and presents a threat to the economic recovery. Warren cited a recent report that cited student borrowing as hurting the economy because the debt overhang kept many purchasing cars or houses.
(Excerpt) Read more at news.yahoo.com ...
Pay for college like I did and every car I’ve ever bought, with cash!
No, pay for college like groceries. If you don’t have cash, don’t buy.
RE: Pay for college like I did and every car I’ve ever bought, with cash!
Ahhh, but cars can be bought second hand. Anyone ever heard of a second hand college degree?
I too worked my way through college. I was a male prostitute at the sorority houses. I’m not proud of it. Well, actually, I am. It wasn’t unusual for me to make three....four dollars a night with tips. Sure, I had to clear the dishes from the table and shovel snow, but the real reason they paid me was to give them pleasure. I mostly did this by taking out the garbage. OK, technically I was a janitor, but male prostitute sounds better. Putting “Male Prostitute” on your resume gets you that coveted interview at most places.
I haven’t and never would finance a new car!
I was taught by my parents to never borrow money except for a first home and I’ve lived by that my entire 76 years.
In 57 years of business that my father started neither he nor I ever borrowed one cent to run the business.
My highest income years were in the Carter administration when interest rates were in the 20% range, my irresponsible competition that operated on borrowed money were going broke.
Boehner and the GOP House leadership ARE SPECIFICALLY AND UNILATERALLY TO BLAME FOR THIS FIASCO.
2011 Budget, of the hundreds of billions of dollars in waste in the Federal government, Boehner insisted on one, and only one budget cut... Student loans.
He is an arsehole of unmitigated proportions and should have been removed from the GOP caucus because he literally lost the votes of every college educated American under 30 with that decision. For the rest of our coting lives.
Does that mean we can get it with an extended warantee and undercoating?
RE: Putting “Male Prostitute” on your resume gets you that coveted interview at most places.
You must like gay bosses and gay ran companies ... :)
Demonrat who cares. Awww.
Bet her idea has a bunch of nasty stuff hidden in it like obamacare did.
LIKE!
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