Posted on 07/01/2022 9:25:07 AM PDT by SeekAndFind
“Well, I guess the Communists know that the old people living in America today are not going to make the revolution. They are not the people who count. They count on the young people, and those who control the youth are the people who control the future of this country.”
—Former Communist Bella V. Dodd, before the House Committee on Un-American Activities, 19531/
In 2010, President Obama nationalized student tuition loans by making the government the “sole provider” of government-backed college tuition loans. By doing so, Obama effectively eliminated banks as the conduit of choice for government-backed tuition-loan financing. Similarly, when Obama pushed for the government to make Obamacare the “single-payer” a nationalized health care system, the obvious consequence would be to eliminate employer-sponsored and insurance company-provided health insurance from the market.
On March 30, 2010, Obama signed the Health Care and Education Act charging the U.S. Department of Education to make 100 percent of all government-funded college loans, effective on July 1 of that year. In 2010, student loan debt totaled $760 billion. In 2022, the total outstanding student loan debt will more than double to a record $1.7 trillion. In 2017, a study by the Federal Reserve Bank of New York concluded that “more federal aid to students enables colleges to raise tuition more.” Raising U.S. higher education tuition costs to a level middle-class families cannot afford is not a problem as long as the government makes the taxpayer pay the price.
Meanwhile, colleges and universities have utilized the increased tuition revenue to flourish into today’s bastion of critical-theory-driven neo-Marxist political correctness.
(Excerpt) Read more at americanthinker.com ...
The banks actually blew it in 2008. They came crawling to the federal government and asked the Dept of Education to take over all their (federally subsidized, not private) student loans and bail them out. They did so—those loans were called “PUT” loans and were converted to federal loans.
After that, it was easy for Obama to announce the banks couldn’t handle the servicing of student loans anymore and they all became 100% Direct loans. As a bonus, the decision helped “fund” (justify) the enormous costs of Obamacare.
One thing you can see if you go to poorer states (Alabama being the example here) is how fabulously wealthy the college towns are (Tuscaloosa and Auburn). Luxury apartments extending for miles. Restaurants, swimming pools, golf courses, you name it.
Then you go to rural parts of the state and see people living in poverty. Boarded up buildings. Meth everywhere. Horrible roads. 1950’s era public housing.
Does the government try to bring industry to poorer areas so they can live better and grow the economy?
Apparently not.
We should unplug all Fed participation and funding in every level of education. No good has come of it.
The tuition isn't exactly cheap, but it is reasonable. No government loans are allowed. Hillsdale has their own group of lenders who make the loans.
They do so at reasonable rates because Hillsdale students actually learn something useful to pay the loans back. What a concept!
Seems pretty obvious it’s become a big giant LIBTARD money laundering and propaganda scam 🤪
Absolutely agree. And don’t forget the sports coaches making $500K at public universities, which is a crime in and of itself.
Loans should have some sort of “marketability index” that determines the allowed amount of the loan. If the degree doesn’t provide a path, in that it has no market value, the loan should be zero. Opposite for STEM.
This would be the fastest way of killing all this extreme leftist garbage.
And there are STILL conservatives who donate to their alma maters!???? Funding the destruction of their own children and grandchildren!
“ Absolutely agree. And don’t forget the sports coaches making $500K at public universities, which is a crime in and of itself.”
If only it was such a ‘small’ amount 🤪
Lincoln Riley received a contract in excess of 100 MiLLION a 6M home and 24 7 jet at USC.
Look at Hairball’s millions and millions at Michigan it’s like this all over
However nefariouslynit was started, it’s money laundering on the backs of students.
Yep, they’re enslaving our kids by saddling them with crippling debt all so they can fund their communist indoctrination / propaganda centers.
Excellent!
A rare gem from the American Stinker...
All roads lead back to Usurpation Day.
Yup. End Federal student loans and the cost of an education will plummet to a realistic level.
STEM
Programming is now done around the world, often for shockingly low compensation by American standards.
Sure. I’ve been competing with them for over 20 years...but you get what you pay for. That’s not to say there’s no good ones in low cost countries but in general many just aren’t very good. There’s still lots of innovation and jobs here if you pick the right industries.
Of course some, like anything military related, require US citizens. STEM is still one of the best directions to go.
My solution:
1) make student loans discharged in bankruptcy.
2) Make the colleges co-signer. If the student can’t pay, the college eats it.
Colleges would become more budget conscious, would stop offering courses and majors whose graduates kept defaulting, and would stop admitting students they know won’t make it.
Nationalized funding of The Revolution will not be ended by existing political actors.
We definitely do not need to be funding institutions which teach people to hate their country and come out more stupid for having attending than when they stepped in. Institutions which have “pornography studies” departments and the like should also be fully defunded.
this used to be the sort of thing that was normal for American Thinker. Now it is a rare site.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.