Posted on 01/20/2010 9:52:02 AM PST by TLI
(CNSNews.com) – A bill currently before the Senate would empower the Obama administration to nationalize the student lending industry, eliminating the federally subsidized private loans millions of university students rely on to finance their educations.
The Student Aid and Fiscal Responsibility Act – currently being considered by the Senate Health, Education, Labor, and Pensions (HELP) Committee – would eliminate the Federal Family Education Loan (FFEL) program. FFEL loans are federally subsidized and make up approximately 80 percent of the student lending industry.
I thought this, or something similar to this, was already done under the bill that defunded ACORN.
He is doubling down!!!! He is only going to be worse now!
Why does the cost of college education keep going up? Government subsidized loans. How much money does it really take to teach Shakespeare, whose works have been in the public domain for centuries?
Nationalize...............Nazi = German, short for Nationalsozialistische deutsche Arbeiter-Partei, National Socialist German Workers’ Party.]
“Why does the cost of college education keep going up?”
I always figured it was professors trying to equal or surpass the private sector in income and benefits, but I could be wrong.
Communism and ANOTHER TAX
Since Zero’s funds will be at a zero interest rate ... he can reap all the profits.
Besides ... NEW CZAR will be required! And that Czar will love pouring over all your tax returns, bank balances and personal information you have to submit on the FASFA.
>HE’S ONLY GOING TO BE WORSE NOW!<
YUP, LIKE I SAID ON ANOTHER THREAD, LIKE A CORNERED POSSUM DEFENDING HER YOU. THERE IS NOTHING MORE VISCIOUS!
Ping
OK, all of you (R)s - filibuster this.
There is nothing, zip, nada, in the Consitution that allows the feds to hijack education.
Not even the overused commerce clause.
The percentage of loans will go up to those who cannot read or wright. Then they will be obsolved of paying the loan back because they cannot afford it. Watch!
Next will come the government telling you what your career will be. So much for America being the land of opportunity where you can be anything you want to be.
He may try hardening the soft tyrrany..
I believe that student loans can be forgiven if the student works for a non-profit organization for ten years (ACORN, etc..) Easy way to use taxpayer money to pay the salaries of Democrat campaign workers.
A wounded Marxist is a dangerous Marxist. Throw his pathological narcissism into the mix.....buckle up and get ready for a wild ride folks.
You are correct about the rat reasoning on the savings from nationalization. The original intent of private lending was for outside financing of student loan debt. Of course, private lending was not possible without subsidies (no interest until graduation). In addition, government imposed tight rules on loans to provide assurance to private investors. The rats have complained bitterly about these restrictions and indicated that nationalizing the lending programs eliminates the subsidy cost.
The rat’s goal is to make college education an entitlement. Like all entitlement programs, the costs will soar. The most important cost, the cost to finance the program through additional government borrowing and money supply growth, is unknown. Look for the rats to increase benefits (income contigent repayment, loan payment foregiveness, below market interest rates, ...) and hide the true costs.
From community organizer to micro-managing 300 million US citizens’ lives from cradle to grave.
Creeping communism:
Medical care access from conception to expiration
Unionized teachers from K-12 with approved curricula & uniforms & diet/lunch programs
Financial control of higher education - picking the applicants based on criteria???
FCC control of the airwaves
I.D. and screening at public transportation terminals
CCTV on every street corner
Mandatory SS numbers and taxes assigned at birth
Mandatory tax filing for charities including religious faith based entities
Nationalization of banks and industries - can energy be far behind?
Encroachment (ultimate dissolution) on States Rights and Governors’ prerogatives.
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