Posted on 04/18/2015 7:03:39 AM PDT by HomerBohn
Elizabeth Warren took one of her characteristically earth-shattering ideas to the Daily Show Thursday night: “If we would reduce the interest rate on student loans, young people would have a lot more money to spend.”
“Right–and then they could buy more weed and then they’d be quieter!” Stewart interjected.
That wasn’t quite the point Warren wanted to make—but it does a good job of highlighting how ridiculous her economic thinking–or lack thereof–is.
Warren has tried—and failed—in the past to lower student loan interest rates by raising taxes on the wealthy. On Stewart’s show, she continued her never-ending quest to convince the audience that it’s just not fair that kids have to pay a lot of money for college, and the problem is all those mean millionaires who won’t pay for everything.
“Why can’t we reduce the interest rate? Why can’t we just say look, that’s not what we should be doing as a country?” she asked.
“We should not say to kids, if your mom and dad can write a check for college you pay this much for college but if they can’t, you’ve got to pay a much higher rate because you’ve got to pay more on your student loans.”
“We should not be charging our kids more to get a loan to go to college than we charge big financial institutions in order to finance their businesses,” she declared.
Watch below:
(Watch video at link)
Peg it to the prime rate and let them float if you want to take the risk, or go with the higher fixed and be sure.
Use a carrot and stick approach as well for getting them paid back. Hey, you can’t find work and haven’t made your payment? Money too tight right now to even get my? 20 hours of community service or some such will allow you to miss that months payment without interest or penalties.
Liawatha is a genius. Less bills to pay = more money in your pocket.
Thank you oh wise one.
Harvard pays her $450K/year to teach from that fount of knowledge. Can you believe the deal they’re getting?
I enjoy watching the libtards fall on that sword of free money. The libtard colleges collect on the backs of children for a social studies degree.
They meet the real world and cannot provide a damn thing.
Give me a real world construction crew and work becomes money fast.
You don’t get that with Psychology 401.
I can. The 450,000 she makes comes from a lifetime of servitude from her students.
Libtards are the ultimate slave.
On Howdy Doody the character of Princess Summerfall Winterspring was played by actress Judy Tyler. She & her husband were killed in a head on collision in Wyoming in 1957. She was 24.
Lieawatha Fauxcahontas has nothing on the Princess. Her stupid socialism clashes with her $15,000,000 personal worth. If I ever met Sen. Warren I would point that out & say,
“Filthy capitalist dollars, Senator!? I thought progressives like you never touch the stuff!!”
I am no economist but I dont think that model is going to work for much longer.
I started college at the beginning of this chart. When I started a full load of courses at a public university was $108 per semester. When I left, 4 years later, it was over $1000. Apparently, public universities, at least in California, accomplished in 4 years what it took private institutions 30 years achieve.
And people say government doesn’t work.
The NappyOne
Ahhhhh.....the voters of Massachusetts.
“We didn’t elect her for her brains. We elected her to steal for us.”
Harvard....turning out a better trained criminal.
“No, I didn’t know that lying about my race on an application was wrong and stole from real Indians. How about that Sartre, huh? What a writer.”
Hey Fauxahontas, if I didn’t have to pay federal and state income taxes, property taxes, sales taxes, my mortgage payment and home equity payment, license fees for everything that moves or floats, and donations to my church, Salvation Army and Free Republic.
I would have a hell of a “lot more money”!
If interest rates were charged on the probability of the student to get gainful employment and be able to pay back their loan, interest rates for students majoring in engineering or nursing would be 2% and for those majoring in xxxxxxx studies, the rates would be 25% or more.
Typical Liberal.
I bet she owns rental property. Hey Warren... if only you didn’t collect the rent owed ... just imagine how much more money those poor people renting from you would have.
Oh, and that house you sold and self financed to that young couple just starting out.. just imagine how much better their life would be if you just forgave that debt!
I mean ... this information could change the world!
ROFL
actually ... it works exactly the opposite you idiot Warren!
kids from rich family don't qualify for grants and wont qualify for as many loans either, and wont be eligible for the many scholarships dedicated to children from poor families.
A much better idea starts at the state level, with states figuring out what useless degrees and courses are being offered at their universities, and demanding they be shut down as a waste of taxpayer money, so they would no longer be subsidized by the taxpayers.
Then a somewhat overlapping law, that forbids such courses from being paid for with student loans.
Three years ago....I had to travel to Huntsville, Ala and got there late at the airport. Rental shop was still open and only one gal...the manager...a young lady around 23 years old. Brief conversation between us while she did the paperwork. She was a recent college graduate...four-year degree...and this was the only job offer she got. I didn’t say much but ten years ago....an airport rental car shop manager would have been a fifty-year-old guy with a high school diploma and maybe four years of military time. So, we’ve cheapen the degree value enough....that you get this person as a manager.
I look around and see the same thing with various jobs....most could be done with someone who had a two-year degree, or just one year of college. Why would you waste four years of your life and $60,000 on some degree that relates in no fashion to the job market?
Might seem ridiculous but she has a point. If students were banks, they would be bailed out.
“20 hours of community service or some such will allow you to miss that months payment without interest or penalties.”
Aw, c’mon Abathar, that makes too much sense to expect the government to do it.
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