Goverment to take 100% control of student loans!

[Scofield]

This also forces anyone who needs loans for college to get a Social Security Number, as if you are not eligible for Federal Student Loans unless you have one.

 

[Warrior_of_Freedom]

*shrug* I have a college education and I never took out a loan or went 1 cent into debt.

 

[BenIsForRon]

This is one of the biggest issues with student loans. Colleges charge exhorbitant tuition because students have access to cash. If there were no loans available, tuition would simply be cheaper and professors wouldn't make such enormous salaries, and perhaps would have to teach more rather than devoting all their time and resources towards "research".

Yes but this bill doesn't change anything. Government loans were already government backed, just the actual loan came from big banks. Now the loan comes directly from the government.

This also forces anyone who needs loans for college to get a Social Security Number, as if you are not eligible for Federal Student Loans unless you have one.

O...k. Don't you need a SS number to get private loans too? I think all colleges require you have SS number anyway.

 

[BlackTerrel]

Yes but this bill doesn't change anything. Government loans were already government backed, just the actual loan came from big banks. Now the loan comes directly from the government.

I know. Just saying I've always hated the idea of government backed student loans. People think they make college affordable, but it is exactly that access to capital which makes tuition so expensive in the first place.

 

[Jordan]

You miss the point. The government was just as involved before, it's just that there was another middleman with assured profits and no reason to negotiate on anything ever with people who had loans.

It IS an improvement, in the same way that ending the Fed will be an improvement, even if it means that the government takes direct control of the printing presses again. We're cutting off some leeches is all that is happening.

Now admittedly, the new agency which controls who gets loans and for how much may go crazy with the money, but that's no worse than what the banks were doing.

Woohoo, someone gets it!

 

[Bruno]

Did/how did Ron vote?

 

[angelatc]

*shrug* I have a college education and I never took out a loan or went 1 cent into debt.

How old are you? Just wondering if that's still possible, or if we're showing our age.

 

[BenIsForRon]

Did/how did Ron vote?

Ron did not vote. It took me forever to find the name and number of the bill, though. I hate how newspapers never post that information, it's like they don't want us to know more about the bill than what they tell us.

 

[BenIsForRon]

How old are you? Just wondering if that's still possible, or if we're showing our age.

I'm in college, and I have quite a few friends who are paying for their own tuition as they go. A lot of them work their ass off in the summer, and then work part time as well in the fall/spring.

 

[TastyWheat]

If that was the only change I might support it, but the bill asks for additional funding and that's completely uncalled for.

 

[silverhandorder]

This changes nothing in the grand scheme of things. Simply put they threw the middle man out.

 

[Bruno]

Ron was a no-vote. It took me forever to find the name and number of the bill, though. I hate how newspapers never post that information, it's like they don't want us to know more about the bill than what they tell us.

Thanks! It feels like they don't post the names on purpose. How hard would it be for them link to it?

 

[Lois]

No matter how you interpret it, it's an Unconstitutional Power Grab by Obama, like usual -- here's my post from the other thread about the Defunding Acorn Bill, which they inserted in the Government Takeover of Student Loan Bill --

* * * * * *
The Bill (with the ACORN Defunding in it) was the "Student Loan Bill".

In other words, yesterday - Constitution Day -

THE GOVERNMENT TOOK OVER THE STUDENT LOAN INDUSTRY

* * * * * * * *

House of Representatives Votes to Take Over All Student Loans

http://www.redstate.com/erick/2009/0...student-loans/


Dems Killing Access to Higher Education and Adding Secret Czar, too

http://www.redstate.com/erick/2009/0...-new-czar-too/

* * * * * * * **

House Expected to Pass Government Takeover of Student Loans

http://www.gopusa.com/news/2009/sept...nt_loans.shtml


* * * * * * *

The Quietest Trillion
Congratulations. You're about to own $100 billion a year in student loans.

http://online.wsj.com/article/SB1000...157021052.html



* * * * * * *

Government to take over all student loans (Rep. Michele Bachmann)

http://thehill.com/blogs/congress-bl...chele-bachmann



* * * * * * *

Student loan market overhaul approved by U.S. House

http://www.reuters.com/article/polit...58G5KF20090917

* * * * * *



http://hotair.com/archives/2009/09/1...ents-to-acorn/
Reply With Quote

 

[BenIsForRon]

WHOOPS!!!! I meant to say that Ron DID NOT VOTE. In my post it looked like I said he was a nay. I just went back and changed my post. Sorry guys.

So I would like to know why he abstained from this one.

 

[BenIsForRon]

Lois, you posted a bunch of articles from Red State with misleading titles. I think we should stay away from that and keep to the facts. Gov is NOT taking over all private loans. Read Tmosley, Jordan, and my posts to get a better idea.

 

[paulitics]

Has this gone to the Senate?