Your students loan may double!

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Lunasly

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Right now students pay an interest rate of 3.4% on their federal loans. However, that law is going to expire very soon and republicans want to bring it back up to 6.8%.

[YOUTUBE]http://www.youtube.com/watch?v=w859x-H62fU&feature=g-all&context=G2850d10FAAAAAAAACAA[/YOUTUBE]

EDIT: Sorry, I meant to say that your interest rate may double, not the actually loan!
 
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Republicans taking money from students that barely make it as is? NAW. But seriously, this crap with republicans (not all, just the crooked ones in congress) ruining everyone's lives has to stop.
 
Sounds about right. Private Market Loans start at about that.
 
Republicans taking money from students that barely make it as is? NAW. But seriously, this crap with republicans (not all, just the crooked ones in congress) ruining everyone's lives has to stop.

Hey come on now. They have to prioritize:

[youtube]0xJkD18WyLw[/youtube]
 
OMG! Stop them from increasing the rate from what it already is (6.8%) to 6.8%!! Oh. Oops.
 
Isn't it already 6.8% for graduate/professional school loans? Or is that something different?
 
Yes. Those darn Republicans are at it again. Acting like a measly 15 trillion dollar debt is a big deal or something. What fools. What backwater fools.

Matter of fact, I think medical education should be free. We need to "invest in infrastructure."

ROTFL
 
Yes. Those darn Republicans are at it again. Acting like a measly 15 trillion dollar debt is a big deal or something. What fools. What backwater fools.

Matter of fact, I think medical education should be free. We need to "invest in infrastructure."

ROTFL

A large part of that debt has tracings of republican policy regarding Wall street on it as well as a war started for fraudulent reasons. Not saying democrats do not also bare responsibility but republicans only seem concerned about the debt when it interferes with left winged policy making/elections.
 
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A large part of that debt has tracings of republican policy regarding Wall street on it as well as a war started for fraudulent reasons. Not saying democrats do not also bare responsibility but republicans only seem concerned about the debt when it interferes with left winged policy making/elections.


Actually, the policy on Wall Street cannot be placed on Republicans' shoulders, particularly as Wall St. tends to contribute more to the DNC. Moreover, at this point EVERYONE should be concerned about the debt (which accumulated plenty of its bulk in the Obama administration).
 
OMG! Stop them from increasing the rate from what it already is (6.8%) to 6.8%!! Oh. Oops.

OMG! I'm sorry, I forgot that you are an all-star student that went straight from high school to medical school!

Oh. Oops. 🙄
 
Actually, the policy on Wall Street cannot be placed on Republicans' shoulders, particularly as Wall St. tends to contribute more to the DNC. Moreover, at this point EVERYONE should be concerned about the debt (which accumulated plenty of its bulk in the Obama administration).

Yea. Stricter financial sector oversight is a republican view right? The bulk from the Obama administration was added b/c of the Bush Administration.
 
:laugh:

OMG! I'm sorry, I forgot that you are an all-star student that went straight from high school to medical school!

Oh. Oops. 🙄

Edit: Also, surprised no one has pointed it out: doubling the interest rate doesn't double the loan.
 
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Can someone please inform me where these secret 3.4% Federal loans can be found?
 
Republicans don't support education? Color me shocked.


Absolutely brilliant analysis. The country has no money and is 15 trillion dollars in debt, and the Republicans do not want to continue to recklessly spend (at least on this issue). Rather, students might take out private loans to finance their education, which is as it should be considering that education is not a government responsibility.

So, they apparently "don't support education."

FAIL
 

The national debt has increased by roughly 4 trillion dollars under Obama. This includes the cost for 2 wars that he didn't start, tax cuts in 2001 and 2003 that weren't paid for, a bailout that was required to prop up a financial system that brought itself to the point of collapse (that was not paid back as some assert), the lists go on. In fact, every time Obama tries to address the debt issue with economic policy he is blocked from doing so. Even attempts at appropriating flood relief funds faced blockage unless equivalent cuts were made to offset spending.
 
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Absolutely brilliant analysis. The country has no money and is 15 trillion dollars in debt, and the Republicans do not want to continue to recklessly spend (at least on this issue). Rather, students might take out private loans to finance their education, which is as it should be considering that education is not a government responsibility.

So, they apparently "don't support education."

FAIL

As I recall Obama is in favor of educational reform. You can't fix a system by cutting billions from it overnight however. A measured response that will take years is the only way to elicit effective change.
 
The national debt has increased by roughly 4 trillion dollars under Obama. This includes the cost for 2 wars that he didn't start, tax cuts in 2001 and 2003 that weren't paid for, a bailout that was required to prop up a financial system that brought itself to the point of collapse (that was not paid back as some assert), the lists go on. In fact, every time Obama tries to address the debt issue with economic policy he is blocked from doing so. Even attempts at appropriating flood relief funds faced blockage unless equivalent cuts were made to offset spending.


He had a Democratic congress for a long time when he started. He could have ended the wars immediately, repealed the tax cuts, not given the bailout (as the truly knowledgeable economists said would have been the right course), and the list goes on.

And oh yeah, cuts are GOOD.
 
As I recall Obama is in favor of educational reform. You can't fix a system by cutting billions from it overnight however. A measured response that will take years is the only way to elicit effective change.


What is "educational reform"? Just curious. Y'know, change is not ALWAYS good.
 
You're slightly misinformed my friend. 1. he had a democratic house for one year. 2. One war is done and the other is winding down-- you can't just yank the plug right away from something that's been going on for a long time. 3. Most of the bailout (i'm assuming you're talking about the auto bailout) has been repaid...and the list goes on, but this is SDN, we can have this discussion at another venue.
 
He had a Democratic congress for a long time when he started. He could have ended the wars immediately, repealed the tax cuts, not given the bailout (as the truly knowledgeable economists said would have been the right course), and the list goes on.

And oh yeah, cuts are GOOD.
You're slightly misinformed my friend. 1. he had a democratic house for one year. 2. One war is done and the other is winding down-- you can't just yank the plug right away from something that's been going on for a long time. 3. Most of the bailout (i'm assuming you're talking about the auto bailout) has been repaid...and the list goes on, but this is SDN, we can have this discussion at another venue.
 
He had a Democratic congress for a long time when he started. He could have ended the wars immediately, repealed the tax cuts, not given the bailout (as the truly knowledgeable economists said would have been the right course), and the list goes on.

And oh yeah, cuts are GOOD.

The Bush administration could have been honest about the reasons for entering the war in the first place instead of fabricating evidence and using fear to strong arm America into a war. The war ended in Iraq on Bush's timeline (albeit not for those reasons) and the region is progressing to instability as is. I fail to see how leaving any earlier would have been good for the region or the people living there. Continuing the tax cuts at the time was deemed conducive to the recovery. At the time the bailouts were given no economist had any idea what even really caused the crash in the first place. You would be hard pressed at that time to get any of them to explain what CDO's were and would have some difficultly at present getting the same information from them. It's laughable that you think anyone knew what the consequences of the bailout would mean when literally only a handful of people knew enough about the market to see predict what was going to happen. Anyone who claims they knew how it would turn out was lying.
(as evidenced by the people who made hundreds of millions predicting the failure saying they had no idea what the long term implications were going to be)
 
MAD-Magazine-Romney-Vs-Mr-Burns1.jpg
 
Republicans taking money from students that barely make it as is? NAW. But seriously, this crap with republicans (not all, just the crooked ones in congress) ruining everyone's lives has to stop.

👍
 
Absolutely brilliant analysis. The country has no money and is 15 trillion dollars in debt, and the Republicans do not want to continue to recklessly spend (at least on this issue). Rather, students might take out private loans to finance their education, which is as it should be considering that education is not a government responsibility.

So, they apparently "don't support education."

FAIL


Then why wasn't I allowed to drop out of high school before the age of 16? 😕
 
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At the time the bailouts were given no economist had any idea what even really caused the crash in the first place. You would be hard pressed at that time to get any of them to explain what CDO's were and would have some difficultly at present getting the same information from them. It's laughable that you think anyone knew what the consequences of the bailout would mean when literally only a handful of people knew enough about the market to see predict what was going to happen. Anyone who claims they knew how it would turn out was lying.
(as evidenced by the people who made hundreds of millions predicting the failure saying they had no idea what the long term implications were going to be)


Peter Schiff knew.

http://www.youtube.com/watch?v=2I0QN-FYkpw
 
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Then why wasn't I allowed to drop out of high school before the age of 16? 😕


If you're joking, LOL (seriously)

If you're genuinely curious... Just because they are doing it, does not make it right.
 
So, are your political opinions informed by Professor Maher or Professor Stewart?
 
Right now students pay an interest rate of 3.4% on their federal loans. However, that law is going to expire very soon and republicans want to bring it back up to 6.8%.

[YOUTUBE]http://www.youtube.com/watch?v=w859x-H62fU&feature=g-all&context=G2850d10FAAAAAAAACAA[/YOUTUBE]

You want to know the ironic thing...it was obama's budget that cut the entire subsidized loan program for grad students. That alone will cost me $10,000+ extra in student loans...

You can think one side is for education and the other is not...here is the breaking news, they are for whatever issues gets them re-elected.
 
If you're joking, LOL (seriously)

If you're genuinely curious... Just because they are doing it, does not make it right.
Eeh I don't know about that one. I think it is the government's responsibility to make sure everyone has (somewhat) of a chance at becoming educated. Even though right now kids who come from poor neighborhoods don't have a fair chance they would have NO shot if the government wasn't involved.
 
He had a Democratic congress for a long time when he started. He could have ended the wars immediately, repealed the tax cuts, not given the bailout (as the truly knowledgeable economists said would have been the right course), and the list goes on.

And oh yeah, cuts are GOOD.


So many things wrong with this post. Every economist at the time was saying that the bailouts were absolutely necessary in order to avoid financial doomsday. Other than the kookoos from the Austrian school, no economist advocated letting the financial system (or the car companies for that matter) collapse.

Secondly, cuts are awesome, just look at Greece and Spain.
 
you missed the point of the paragraph completely.


This thread (or website, for that matter) is not really the place to have a political discussion. I only wanted to bring it up as far as necessary to defend the idea to stop subsidizing education on a federal level.
 
So, are your political opinions informed by Professor Maher or Professor Stewart?

Depends on the subject. If you want to talk about the collapse of the financial market a lot of my knowledge comes from Planet Money, NPR, CNN, Michael Lewis, associated research.
 
Yes. Those darn Republicans are at it again. Acting like a measly 15 trillion dollar debt is a big deal or something. What fools. What backwater fools.

Matter of fact, I think medical education should be free. We need to "invest in infrastructure."

ROTFL

A large part of that debt has tracings of republican policy regarding Wall street on it as well as a war started for fraudulent reasons. Not saying democrats do not also bare responsibility but republicans only seem concerned about the debt when it interferes with left winged policy making/elections.

Here we go. Instead of just watching Faux News, actually research what the problem is and where it came from.
 
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So many things wrong with this post. Every economist at the time was saying that the bailouts were absolutely necessary in order to avoid financial doomsday. Other than the kookoos from the Austrian school, no economist advocated letting the financial system (or the car companies for that matter) collapse.

Secondly, cuts are awesome, just look at Greece and Spain.


How's that Keynesianism workin' for ya?

🙂
 
Depends on the subject. If you want to talk about the collapse of the financial market a lot of my knowledge comes from Planet Money, NPR, CNN, Michael Lewis, associated research.


Sorry, that was meant to be a response to flatearth22
 
So many things wrong with this post. Every economist at the time was saying that the bailouts were absolutely necessary in order to avoid financial doomsday. Other than the kookoos from the Austrian school, no economist advocated letting the financial system (or the car companies for that matter) collapse.

Secondly, cuts are awesome, just look at Greece and Spain.

Maybe the financial system, but the car companies, really?

If GM went out of business the demand in cars isnt going to change. People would start buying Hondas instead...which are also built in the US...meaning we never lost any jobs.

Actually most foreign cars which are sold in the US are built in the US.
 
Doubling the interest rate doesn't mean the loan will double.
 
So now we're going to blame the republicans for raising the interest on these loans from 6.8% to 6.8%?

Getting a little desperate arent we?
 
Eeh I don't know about that one. I think it is the government's responsibility to make sure everyone has (somewhat) of a chance at becoming educated. Even though right now kids who come from poor neighborhoods don't have a fair chance they would have NO shot if the government wasn't involved.

IMO the government, over the years, has done more harm than good. I have no doubt that some policies have benefited some poor individuals, but overall these policies hurt the poor.

A few decades ago my home state of California subsidized the cost of its public universities to a much greater extent than they do today. Tuitions were kept low via the taxpayer. Did the poor benefit? Some did, but only the ones who went to college. Overall the vast majority of students were form middle, upper-middle and upper income classes. Very few poor students went to college. Therefore we had taxpayers helping those who were better off (and those that were going to be better off via their education) at the expense of the poor as a whole. Now its true that the upper income classes pay a larger share of taxes and therefore may deserve more support. But then you can't say that the whole point of taxpayer subsidized tuition is to benefit the poor. This effect has decreased over the years since california pubic universities have increased tuition amid decreased state funding and the increase in lower income individuals going to college, but it was the case for many decades.

In addition, many have made the argument that government loans have inflated tuitions in the first place by guaranteeing that the university will get the money one way or the other. Universities benefit from getting more money, politicians can benefit by claiming to "help" the poor, etc. But the students get screwed.

By blaming Republicans for changing student loan policies you are starting the story in the middle. Why did the government ever get involved in the first place? What effect has that had on tuition costs over the years? Who actually benefits from such a policy of providing government loans?

Also, think about mortgage tax benefits. Government tax policy actively encourages home ownership, at the expense of rentals, by providing tax benefits. This is sold under the guise that it helps the poor. It does. But only to the few that can actually afford a home with the help of the program. On the other hand the vast majority of middle/upper income individuals also benefit as well. And they had no need whatsoever.

It's Middle Class Welfare.

You have to look not at the surface of a particular policy, but the actual effects. IMO this is why liberal policies typically sound like good ideas at first glance. Government is going to help us pay for college? Great! The government is going to make it easier to get a home mortgage? Great! You got my vote! Instead, you should try to explore the possible implications of the policy.

We make so many assumptions that we often fail to think. For example, government welfare programs are sold under the idea that they help the poor. So hey, how can you be against it? Who doesn't want to help the poor? Part of the justification for welfare is that there are/were a large number of African-American single mothers who needed help (Moynihan report). Following that line of reasoning it is difficult to argue against welfare without appearing to be against helping poor single mothers. However, that line of reasoning fails to recognize or explain the fact that the epidemic of single parenthood and teenage pregnancy exploded only AFTER many of these programs were instituted. If programs provide more aid to single mothers than those who are married you will probably get more single mothers. Now im NOT saying that people are thinking to themselves "hmmm if I don't get married and instead just have a boyfriend I'll actually be better off". No I'm saying that if you subsidize a behavior (or anything for that matter) you will tend to get more of it somehow some way.

I'd go on but im getting tired. My main point is not about the merit of particular government programs and policies, but rather to encourage people to look beyond the surface and look at the implications of a policy.

Before I go heres a link to Milton Friedman making the case AGAINST Equal Pay for Equal Work. Regardless of your feelings on it, it is food for thought and does promote a point of view that I believe very few consider.

http://www.youtube.com/watch?v=hsIpQ7YguGE
 
Moreover, at this point EVERYONE should be concerned about the debt (which accumulated plenty of its bulk in the Obama administration).

Indeed, I am deeply concerned about the debt. Have been since 1989, to be exact. Let's see, who's to blame, again?

debt-increases-by-president.jpg
 
Indeed, I am deeply concerned about the debt. Have been since 1989, to be exact. Let's see, who's to blame, again?

That's right, keep playing the blame game. That'll solve our problems.

Republicans do not always equal conservatives.

Moreover, whenever Republicans try to take even inadequate steps to attack the debt and deficit (e.g. Ryan plan), the compassionate Democrats always provide their insightful and thoughtful cries of "Murderers! Grandmother killers! Racists!"

And it's hard to exonerate President Obama from being irresponsible with debt when he keeps asking for debt limit hikes.
 
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