The Student Loan Power Grab

The Patriot Room ^ | September 17, 2009 | Clyde Middleton

[clyde_m]

PR Friend Paul over at Organized Exploitation looks at the latest power grab by the feds. Here's the full text reported by Thomas. (Note, sometimes Thomas search results time-out. If so, go here, take the first choice on the Google return, and then Version 2 of the bill.)

NOW, the big rumor is that an ACORN defunding was amended to this bill. I've read the floor transcripts, and haven't found it yet. Will update when I do.

Here's Paul's article:

[Joe 6-pack]

Students who can not repay their loans will be given the option of *public service*. Mark my words.

[Tarpon]

Indentured servitude. I doubt most in college understand.

The scary part is government gets to decide who gets to go to college. Best and brightest, or racial quotas. I go with quotas. Everything with Obama is all about race.

[fours]

My teacher friends say that public service student loan forgiveness and income-based repayment of student loans already arrived this past July, because of the College Cost Reduction and Access Act. The act was signed by Bush into law in October 2007, but the parts that actually forgive loans only came into effect this past July. More info here:

http://ibrinfo.org/
http://www.nasfaa.org/publications/2007/G2669Summary091007.html

My understanding was that basically if you’ve been a teacher (or worked at a non-profit or government job making less than some maximum amount) for 10 years and paid your student loans faithfully for the entire 10 years, they forgive your debt. Needless to say, my teacher friends were pretty excited when the law was activated over the summer.

[Joe 6-pack]

LOL...I suppose I did the same thing under Reagan in the form of an ROTC scholarship ;-)

[jerri]

I watched the vote on the amendment and it was indeed added to student loan bill. The nays outnumbered the yeas during a vocal vote so Issa requested the electronic vote. I guess nobody wanted to go on record as opposing defunding acorn!

When the bill was voted on I think 5 republicans voted for it.

[fours]

LOL...I suppose I did the same thing under Reagan in the form of an ROTC scholarship ;-)

That's great! Another good way to pay for college ...

BTW, that makes me remember that they also have a federal program that's been going since the 1990s called the "Troops-to-Teachers" program that gives former military personnel grants to go and get teaching certificates (I know someone who did this). So I suppose if you combine the ROTC money for going to college, with public-service loan forgiveness for a master's degree, and the Troops-to-Teachers money for your certification/licensing expenses you have a pretty strong gubmint incentive for a military-to-teacher career track?

http://www.ed.gov/programs/troops/
http://proudtoserveagain.com/