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Senate Republicans block vote on student loan interest rates

Discussion in 'News & Current Events' started by Bro. Curtis, May 8, 2012.

  1. Bro. Curtis

    Bro. Curtis <img src =/curtis.gif>

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    http://news.yahoo.com/blogs/ticket/...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3


    ...The Republican-led House passed their own measure to fix the student loan interest rate on Apr. 27. That measure cut the Prevention and Public Health Fund in the president's health care law in order to pay for the extension--a decision that lead to a veto threat from President Obama and left the legislation with little hope of advancement beyond the House. Republicans have been requesting a Senate vote on the proposal.
     
  2. InTheLight

    InTheLight Well-Known Member

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    Democrats Declare War on the Wealthy

    (from the article)
    The Democrats' $6 billion bill would be funded by raising Social Security and Medicare payroll taxes on select wealthy stockholders of private companies.
     
  3. Crabtownboy

    Crabtownboy Well-Known Member

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    Yes, Republican senators continue to protect the rich and cut health care for the poor ...
     
  4. targus

    targus New Member

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    Crabby is getting lost in his "wars".

    He just classed college students with loans as "the rich". :laugh:
     
  5. Salty

    Salty 20,000 Posts Club
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    My first thought - Why is the student loan interest rate even part of the Prevention and Public Health Fund in the president's health care law.

    This is another problem I have with congress - having un-related provisions in a bill.


    Now as far student loans - maybe they should save up some money before attending school. Or they could join the Army and get the GI bill. Oh - they would have to work for that - heaven forbid

    Salty
     
  6. Crabtownboy

    Crabtownboy Well-Known Member

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    It isn't. It is simply that the Republicans want to cut funding in this program to offset what they see as a loss if the interest rate is not almost doubled for student loans. The cost to each person paying off a student loan has been estimated to rise about $1000 a year if the interest rate is raised. That means $1000 less they can spend or save, either of which should help the economy.



    Many do work and save, but cannot save enough to pay the entire cost of their college/university costs.

    A student loan is a good investment in America's future. We need educated people to help America meet the demands of the future.

    Salty[/QUOTE]
     
  7. InTheLight

    InTheLight Well-Known Member

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    A program that hasn't even started yet.

    Do you just make this stuff up or what?
     
  8. mandym

    mandym New Member

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    No I don't believe he has the ability to do that. He carries the water for other people who just make stuff up.
     
  9. billwald

    billwald New Member

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    The program was a rip off from the beginning. Half the kids with student loans will NEVER break even and should not be in college.

    A kid who deserves (has the smarts, the ambition, and works for it) will get a scholarship.
     
  10. Salty

    Salty 20,000 Posts Club
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    Are we talking about loans or scholarships?

    The Federal govt should not be in the business of education - let the States or Commonwealths handle that
     
  11. Arbo

    Arbo Active Member

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    Then they should show some responsibility for themselves and scale back. Four year degree on the six-year plan. Military and GI Bill. Community college.
     
  12. Crabtownboy

    Crabtownboy Well-Known Member

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    Rather judgmental there Arbo. How well would you do working at a minimum wage job, paying your living expenses and paying for college at the same time? Do you know how much it costs to go to even the lowest costly university or college?

    Working at the minimum wage the average annual earned income would be $13,624. That is gross, not net. How well could you live and go to school on this amount?


    Note: this does not cover the cost of books, lab fees, transportation costs, meals, etc., etc.
     
  13. Arbo

    Arbo Active Member

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    What you call judgemental, I call practical alternatives to indebtedness. Though it wasn't easy and took longer, it worked for me; and I completed my college education with no debt.
     
  14. Crabtownboy

    Crabtownboy Well-Known Member

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    Perhaps you did not mean it as judgmental as it appears on the cool screen. Mary are working and going to are trying to go to school at the same time. It is very difficult, especially if that person is working and going to school where they work and take classes at the same time. The words "scale back" sounds judgmental to me.

    I like you worked hard, both at working jobs and going to school. It would have been great if student loans had been available. Though I was a GI I fell into those few years when GI bill was not available for me.


    I see no harm in keeping the students interest rates low. It is a loan, not a gift. Do you object to the interest rate on their loans being low?
     
  15. freeatlast

    freeatlast New Member

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    I wish they would do away all together with student loans. The federal government should not be engaged in this kind of things with tax payer money at stake.
     
  16. Crabtownboy

    Crabtownboy Well-Known Member

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    Should the GI bill be done away with also?
     
  17. Arbo

    Arbo Active Member

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    I said what 'scale back' meant, but if you missed it: taking longer to get a four-year degree, military service and the GI Bill, and community colleges. In other words, being flexible.
     
  18. freeatlast

    freeatlast New Member

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    My understanding is that the GI bill ended in 1956.
     
  19. Arbo

    Arbo Active Member

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