Senate Republicans block vote on student loan interest rates

If a GI Bill equivalent was promised at enlistment time then it should be paid as promised because it is deferred payment of a contracted benefit.

 

Who is punishing banks? They will make money at the current rate if they are involved in the loans. Why punish people who have worked to get an education and will contribute more to our country as an educated person.

So, you believe all students should be punished because someone may be lesbian and major in journalism? Why do you hate people so much? All people?

I don't know where you got that idea. If I were in charge they would get four years of college free. I would keep the program and make it better.

ROFL, ROFL, ROFL!!!!

Now that is one truly funny line.

 

Yes, it has changed over time. When I got out of the Army I was in that small time frame where it would not help me. It would have been very helpful if it has been there to help. I was very poor at that time, but maybe that was good ... I learned some very good lessons on handling money by being very poor.

 

Why is the Federal Government in the business of subsidizing loan interest for college loans for every kid that wants to go to college regardless of ability or field of study?

I am sure that everyone here knows of at least one kid that went to college on student loans only to eventually drop out without a degree - or a degree with no marketable value - or did so poorly that the degree is meaningless...

Only to be saddled with loan payments that their job would never support.

Why is the government applying such pressure to kids to borrow money way beyond their means to ever repay?

 

I agree. The Feds need to get out of the loan business. Let private interprise do that.

 

It is spelled enterprise. I agree also. Scripture is very clear about the federal government being involved in the administration of student loans. It is right next to the chapter that states all depression is caused by sin and treatment for it is hiding from dealing with sin.

 

:laugh:

From the *NWV, the only true-to-the-originals version right?

* New Wikipedia Version.

 

How soon we forget the disaster brought on in 2007-8 by the banking industry
.

 

Actually it was brought on by government regulation of the banking industry which forced the banks to work to protect themselves.

 

It is an investment in America's future. We need all the educated people we can produce. Why let other countries out education us and loose our educational advantage?

An educated electorate is much more likely to produce good results for the country than an uneducated electorate.

What have they done to be punished?

I hope and pray that future generations will be smarter than you or I or the population in general?

Do you want future generations to be ignorant?

 

It was brought on by a lack of oversight, especially in the derivatives area of banking.

 

>It is an investment in America's future. We need all the educated people we can produce.

To wait on tables? Another generation and a 4 year degree will be needed to drive a garbage truck. If an employer can hire a college grad for the same wage as a HS grad he will require a 4 year degree to cut the number of job applications.

 

Doubling the interest rate on the loan certainly is not helping them!

Do you really dislike young people?

 

Learning to pay back a loan and learning that yes interest rates can change is a part of life. Credit Card companies increase interest rates all the time. Many because of someone credit rating going down. This is a life lessona and may help keep them from going into debt especially credit card debt. Lifes lessons are tough but we all learned them the hard way.

 

It seems that you are the one who has forgotten or never understood what happened in the first place.

Encouraging borrowers to take on more debt than is reasonable either with artifically low interest rates or artificially lower credit worthiness requirements is what lead to the last fiasco.

The government subsidizing the interest rates for student loans encourages kids to take on a great deal of debt that they may never be able to pay back.

Lots of college students are borrowing the whole college experience including room and board, laptop computers, clothes, etc. - not just tuition.

That government loan guarentee at 1.6% looks good on paper until you find out just how much interest has accumulated over the four years of college - let alone paying back the principal.