Students seek to stop loan interest r...

Students seek to stop loan interest rate hike

There are 6 comments on the TwinCities story from Mar 13, 2012, titled Students seek to stop loan interest rate hike. In it, TwinCities reports that:

Northern Arizona University freshman Tyler Dowden, 18, speaks during a news conference on Capitol Hill in Washington, Tuesday, March 13, 2012, to announce the collection of over 130,000 letters to Congress to prevent student loan interest rates from doubling this July.

Join the discussion below, or Read more at TwinCities.

Eleanor

Vernon Hills, IL

#1 Mar 13, 2012
That is HIGHWAY ROBBERY.

Banks are paying less than 1% in interest.

Education is IMPORTANT and deserving to have REASONABLE interest to finance that education.

NO ONE should be making THAT MUCH MONEY off of our children's education!!!

“Hello Trump”

Since: Jan 07

Goodby Hillary

#2 Mar 13, 2012
Eleanor wrote:
That is HIGHWAY ROBBERY.
Banks are paying less than 1% in interest.
Education is IMPORTANT and deserving to have REASONABLE interest to finance that education.
NO ONE should be making THAT MUCH MONEY off of our children's education!!!
If you will remember,Obama's administration and the Democratic Congress took the student loan programs from banks and other private lenders and placed the programs under government supervision,in 2008/09. You can thank the Democrats for this foresight and initiative in regulating the cost of higher education.
Far Away

Anchorage, AK

#3 Mar 13, 2012
okimar wrote:
<quoted text>If you will remember,Obama's administration and the Democratic Congress took the student loan programs from banks and other private lenders and placed the programs under government supervision,in 2008/09. You can thank the Democrats for this foresight and initiative in regulating the cost of higher education.
... included it in Øbama-care, no-less.

“Hello Trump”

Since: Jan 07

Goodby Hillary

#4 Mar 13, 2012
Far Away wrote:
<quoted text>
... included it in Øbama-care, no-less.
I believe it was tacked on as a rider program,with its own 2,000 pages of garbage. Par the course for this corrupt administration we are now reaping(belatedly)the results of liberalism run amok yet again.

Since: May 11

Location hidden

#5 Mar 14, 2012
Americans already owe about $1 trillion in student loans, and delinquency and default rates increased by more than 50 percent since 2003.

According to the Department of Education, more than 40 percent of loans granted from 2003 to 2006 to students at such institutions will go bad over time. College graduates still suffer an unemployment rate of 8.4 percent.

With most of those loans issued or guaranteed by the federal government, taxpayers could find themselves forced to pony up billions upon billions of dollars.

The whole idea of loaning large sums of money to young adults with no credit history is something only government, with no sense of responsibility, would dream up.

In most cases, student aid is an immeasurable liability. The individual’s risk at 18-years-old cannot be accurately quantified even with a cosigner. Realistically, no private institution would lend this kind of capital to such a young demographic without credit history.

“There are 80,000 bartenders in the United States with bachelor’s degrees,”[Going Broke by Degree: Why College Costs Too Much author Richard] 17 percent of baggage porters and bellhops have a college degree, 15 percent of taxi and limo drivers. It’s hard to pay off student loans with jobs like those.

Worse still, federal student loan programs are the prime cause of the high cost of higher education. By increasing demand for higher education, loans push up the price, which, in turn, causes more students — students who might previously have been able to finance their own schooling — to take out loans, further inflating the price, and so on, in the proverbial vicious circle.

Federal student loans increase the cost of higher education while decreasing its value, thereby making it more difficult for borrowers to repay their loans and more likely that taxpayers will have to pick up the tab.

“Hello Trump”

Since: Jan 07

Goodby Hillary

#6 Mar 15, 2012
PayThat CEO wrote:
Americans already owe about $1 trillion in student loans, and delinquency and default rates increased by more than 50 percent since 2003.
According to the Department of Education, more than 40 percent of loans granted from 2003 to 2006 to students at such institutions will go bad over time. College graduates still suffer an unemployment rate of 8.4 percent.
With most of those loans issued or guaranteed by the federal government, taxpayers could find themselves forced to pony up billions upon billions of dollars.
The whole idea of loaning large sums of money to young adults with no credit history is something only government, with no sense of responsibility, would dream up.
In most cases, student aid is an immeasurable liability. The individual’s risk at 18-years-old cannot be accurately quantified even with a cosigner. Realistically, no private institution would lend this kind of capital to such a young demographic without credit history.
“There are 80,000 bartenders in the United States with bachelor’s degrees,”[Going Broke by Degree: Why College Costs Too Much author Richard] 17 percent of baggage porters and bellhops have a college degree, 15 percent of taxi and limo drivers. It’s hard to pay off student loans with jobs like those.
Worse still, federal student loan programs are the prime cause of the high cost of higher education. By increasing demand for higher education, loans push up the price, which, in turn, causes more students — students who might previously have been able to finance their own schooling — to take out loans, further inflating the price, and so on, in the proverbial vicious circle.
Federal student loans increase the cost of higher education while decreasing its value, thereby making it more difficult for borrowers to repay their loans and more likely that taxpayers will have to pick up the tab.
When one thinks about the high cost of college can you help but wonder about the salaries of professors,deans,coaches and other administraters in a college/university staff? Could some of them at the more "prestigous" institutions be overpaid/overrated? Add to this that our secondary educational institutions for the most part are seen as centers of indoctrination ran by liberal/progressive administrators and demand these high tuitions as a way to justify thier high caliber reputations. The old "you get what you pay for" justification. But are they really worth it?

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