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Hey American Students! Remember When the Republican Party Liked You?

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May 13, 2013 – Comments (5)

Education

"The rapidly mounting enrollments and costs of colleges and universities deprive many qualified young people of the opportunity to obtain a quality college education. To help colleges and universities provide this opportunity, we favor grant and loan programs for expansion of their facilities. We will also support a flexible student aid program of grants, loans and work opportunities, provided by federal and state governments and private organizations. We continue to favor tax credits for those burdened with the costs of higher education, and also tax deductions to encourage savings for this purpose. No young American should be denied a quality education because he cannot afford it or find work to meet its costs". - 

US Republican Party Platform, 1968

 

 

 "The biggest banks in the country – the ones that wrecked our economy and cost millions of 

Americans their jobs – pay next to nothing on their debt, while students pay nine times as 

much. 

The Bank on Students Loan Fairness Act lets students take advantage of the same low interest 

rates offered to banks through the Federal Reserve discount window:

 Sets Interest Rates for Government Loans to Students at the Same Level as 

Government Loans to Banks. The Act would provide a one-year fix to the impending 

interest rate hike by setting the rate for federal subsidized Stafford loans at the primary 

interest rate offered through the Federal Reserve discount window as of July 1, 2013.

 Funded by the Federal Reserve, Administered by the Department of Education. The 

Federal Reserve would make funds available to the Department of Education to make 

these loans. While the Federal Reserve would now provide funding, the Department of 

Education would continue to administer all other aspects of the federal subsidized 

Stafford loan program in the same manner as it currently does".

- US Senator Elizabeth Warren, 2013  

 

Best Wishes,

Steven 

 

5 Comments – Post Your Own

#1) On May 14, 2013 at 10:48 AM, L0RDZ (84.34) wrote:

Most students  are brain-washed  idiots  ~   I  said  most  not all.

The  educational  business has  a built in  bias  for  stupidity  and  incompetence.

It's interesting  how  the US  gov  would allow  banks (institutions)  to  obtain  money for next  to nothing  and   than  loan  it  out  to students at  substantially  higher rates  and  than  guarantee  that  said loan  would be  repaid with  interest.  Than  at  some  point  someone  came up with  the  bright idea  of  cutting out  the  middle  man in  that  they allowed them  to manage  basically  a  fully  guaranteed  program  and  add on  additional  fees  for  basically  taking no risk and  not  doing  much  other  than  chaining  some of  the  most irresponsible with  debt  that  cannot  be  removed.

I  like  the  students  who use  such  money  to  go  out  drinking  3-5  days  a  week,  who  take   trips  abroad  to supposedly  go  study  and  rack  up  hundreds  of  thousands of  dollars   ~  who  than realize  when  graduation comes they are basically  screwed with degrees  that  have  little  to no  job prospects.

First hand  painful  educational  experience  at  its  best.

In  the  meantime  the  costs  of  all  this  education sky rockets  with  the  availability  of  unlimited funds  to  fund  the  next victim  ~  next  borrower...

And there are  talks  of  allowing  these  irresponsible  persons  debt  forgiveness ? where  do  you think  they  are  going  to get this money  from ?

The  responsible.

What  a  lesson.

 

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#2) On May 14, 2013 at 3:43 PM, devoish (98.57) wrote:

LORDZ,

Thanks for reading. In your second paragraph I would substitute the word crtiminal for interesting.

In your seventh I would substitute the word victims for your phrase "irresponsible persons".

In your fourth I think your 3-5 day/week drinker is not representative of college students. Neither do I think that education should be confused with or thought of as a "job training" program. Employers have that responsibility.

Concerning your sixth paragraph, 2% of federal spending is on education, 1/10 of what we spend on defense. We should spend more on education, allow every citizen to take one day off from work each week and spend it at any school they choose and can qualify for.

This way we would have less money to spend killing people. 

Best wishes,

Steven

 

 

 

 

 

 

 

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#3) On May 14, 2013 at 3:53 PM, BMFPitt (71.32) wrote:

The policies resulting form the 1964 quote resulted in the problems that Warren is proposing to make worse in the 2013 quote.

Looking at our loose monetary policy and bloated defense spending and saying, "We should take these fine examples and apply them to other areas" is absurd.

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#4) On May 14, 2013 at 3:58 PM, BMFPitt (71.32) wrote:

Looking at our loose monetary policy and bloated defense spending and saying, "We should take these fine examples and apply them to other areas" is absurd.

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#5) On May 15, 2013 at 5:42 PM, devoish (98.57) wrote:

BMFPitt,

I can see no reason not to change the current loan policy to be in favor of young men and women instead of wealthy bankers and their investors.

Best wishes,

Steven 

 

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