Posted on 08/30/2022 4:35:10 PM PDT by Republican Wildcat
On March 30, 2010, President Obama signed the reconciliation "fix" to the health care reform bill passed by Congress last week. Slipped into it was student loan legislation the President calls "one of the most significant investments in higher education since the G.I. Bill." Under the Student Aid and Fiscal Responsibility Act (SAFRA), the federal government will lend directly to students, ending billions of dollars in wasteful subsidies to firms providing student loans. The bill will save an estimated $68 billion over 11 years.
Money for the program will come from the U.S. Treasury, which will lend it to the Education Department at 2.8% interest. The money will then be lent to students at 6.8% interest. Eliminating the middlemen will allow the Education Department to keep its 4% spread as profit, money that will be used to help impoverished students. If the Education Department were to set up its own bank, on the model of the Green Bank being proposed in the Energy Bill, it could generate even more money for higher education.
(Excerpt) Read more at huffpost.com ...
related thread: https://freerepublic.com/focus/chat/4089594/posts?page=1
The theory was that the government would earn 4%. So much for that. Socialism never works.
Case study in stupidity and lies, then doubling down to hide their stupidity and lies. Simply stunning and should be a legal reason to disband congress and the DOE. Simply put, fraud.
They just hired 80,000 new revenue streams to avoid running out of other people’s money.
Nothing bammy ever promised would work worked. Nothing.
Just allow student loan borrowers to file bankruptcy.
Everyone should be allowed to file bankruptcy, otherwise the debt that endures forever becomes a sort of debtor’s prison.
-Les Misérables
-The Jewish tradition of Jubilee
-Common sense and common decency.
Colleges also have a lot to answer for in these matters, and should be financially responsible for some of the debt.
Obama was born a British subject and a Kenyan national.
He was never eligible to be President.
Anyone born with foreign nationality is in fact a foreigner, even if born here and give US citizenship.
Natural born citizens are NATURALLY citizens because they could not be anything else.
The entire purpose of the clause was to exclude foreigners, like Obama and Harris (who was born an Indian and Jamaican)
We can identify a plethora of things the Fed government should quit touching. Housing, education, finance, energy, health care, local police, environment, mail, ...
There are so many things that have to be done in President Trumps second term. The list is ridiculously long. But I’m of the thinking that one or two, here and there, could have a domino effect on others.
That being said, using his command of Twitter, which he would be back on and his ability to force something onto the front page as he walks to Marine 1, doing what he can to make Congress pass a law that every bill is only one issue.
No secret add-one, snuck in when no one’s looking, because they know the lousy bill wouldn’t stand a chance on its own.
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