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GOP Tries To Lower Student Loans, Gets Blamed

First we have this from the New York Times:

Cost Estimate Puts in Doubt Deal Covering Student Loans

By JONATHAN WEISMAN | July 11, 2013

WASHINGTON — A tentative agreement to overhaul the federal student loan program was close to collapsing on Thursday night after the Congressional Budget Office said the proposal would cost the Treasury $22 billion over 10 years, according to aides familiar with the discussions.

So the US taxpayer has been paying $11 billion over the last five years (half of $22 billion), just to buy student votes for the Democrats?

Negotiators from both parties started the day with high hopes that a deal could be struck next week to restore lower student loan rates — but only after Senate Democrats retreated on their position that subsidized loan rates be locked in for at least another year and not subjected to market forces…

It didn’t take much to get them to retreat. Apparently, the Democrats have decided they would rather have the $22 billion (or even more) in taxes to play with than these student votes. Which they will get anyway.

The deal hewed closely to a plan drafted by the Obama administration and modified in a bill passed by House Republicans. To win over Democrats, it would cap interest rates at 8.25 percent for undergraduates and 9.25 percent for graduate students…

Notice that we poor slobs living in the real world only get about 1% interest on our savings accounts. But the government insists on getting at least 6.8% on any money borrowed from them. And the Democrats would like that to be 9.25%. Even though they tell us education is the most important thing in the world.

Meanwhile, even though the Republicans are leading the only releastic push to lower the student loan rates that just doubled thanks to the Democrats, look who is getting the blame.

Via the Daily Caller:

Students blame Republicans, wish they would all die

By Robby Soave | July 11, 2013

A Georgetown University student blamed the Republicans for allowing student loan rates to double, while another said that all Republicans should be put to death.

Campus Reform interviewed Georgetown students about their thoughts on student-loan reform and the GOP in general. One student gave a startling answer when asked whether he supported the Republican plan.

“I don’t think I support anything the Republicans do,” he said. “I think all of them should probably be put to death.”

Another student, who was watching the interview, chimed in with, “That was a little harsh.” Off camera, the first student said, “No, it wasn’t.”

Another student complained that it was “arbitrary” and “douchey” for the Republicans to allow student-loan interest rates to double from 3.4 percent to 6.8 percent. When asked whether he thought all Republicans were generally douchey, he said, “Just the ones on the Hill.” …

Why should taxpayers be subsidizing the political indoctrination of the next generation, anyway?

This article was posted by Steve on Friday, July 12th, 2013. Comments are currently closed.

4 Responses to “GOP Tries To Lower Student Loans, Gets Blamed”

  1. Noyzmakr says:

    I wouldn’t even move the bill out of commitee if it was up to me. Ungrateful, ill educated skulls full of mush.
    Let them pay the price if they want to be indoctrinated. One day, maybe, it will dawn on these idiots that they wasted the best years of their life being lied to all to keep their plantation owners in high cotten.

    Steve, what bank is paying 1% interest on savings? That’s the high life compared to the 0.4% I’m drawing.

  2. Liberals Demise says:

    No education in the least little bit.
    Waste of money and skin suit.
    Another happy slave on the (D) plantation.
    (complete with chains and a song book of obama ditties)

  3. merkelerk says:

    All of them should be put to death?

    And they say Conservatives are haters…

  4. bousquem25 says:

    Some banks around here are offering 0.7% a month on savings accounts but that’s been dropping lately also. I think the idiot student protesters would be moaning about Pocahantus’s (E. Warren from MA) proposal of something like 0.75% interest rate because it isn’t free or maybe a negative interest rate. They would probably think it would be even better to have the loans just disappear after 10 years and have no effect on their credit score. After all it is only fair that their reckless spending be forgiven as degrees in Russian Lit or underwater basketweaving don’t pay to well outside of getting a goverment job if you have the connections or get a place in academia tenure track.

    I knew other students when I was in college about 7 years ago complaining that the financial aid people would not let them take out extra money in student loans. One student had a brother who went to a state school instead of our small private college and the brother was basically given a blank check for student loan approval. He bought a car and multiple spring break trips to Mexico on his student loans. Of course he didn’t have money outside of borrowing and his credit score was total crap so the only way he was buying a new car and paying for it was using his student loan debt. I wonder how well his degree in his nebulous major turned out, probably not so great when the job market tanked.

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