Romney backs student loan proposal Obama supports [Archive] - Glock Talk

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RCP
04-23-2012, 22:17
Yep, the differences between Obama and Romney are night and day.:whistling:

http://news.yahoo.com/romney-backs-student-loan-proposal-obama-supports-203402894.html

Republican presidential candidate Mitt Romney on Monday embraced a student loan proposal that President Barack Obama is selling on the campaign trail

juggy4711
04-23-2012, 22:32
https://encrypted-tbn2.google.com/images?q=tbn:ANd9GcRzdlYAiDsBXXmZwhcB4C5ykmx08n5d0AlaWXU0Q-d-cNDJb7jcmLDvYGFB

G29Reload
04-23-2012, 22:47
As if he wasn't left of center enough already, they say he's "running to the center" :upeyes: in order to line up for the general election after the primaries.

I think we need to re-calibrate where the center is. The left has already made "liberal" seem MOR, and extreme left is now just left.

Mitt needs to slow down before I write off RP's crazy and change my mind.

certifiedfunds
04-24-2012, 06:40
As if he wasn't left of center enough already, they say he's "running to the center" :upeyes: in order to line up for the general election after the primaries.

I think we need to re-calibrate where the center is. The left has already made "liberal" seem MOR, and extreme left is now just left.

Mitt needs to slow down before I write off RP's crazy and change my mind.

this.

HexHead
04-24-2012, 06:48
I've said right along Robamney is just 0bama's white half.

Hyksos
04-24-2012, 06:49
Interest rates are set to double on July 1, from 3.4 percent to 6.8 percent, on a popular federal loan for low- and middle-income undergraduates.

"I support extending the temporary relief on interest rates for students," Romney said Monday, a day before five states hold primaries, though he did not offer specifics on how the extension should be paid for or how long it should last. He said he supports the extension because of "extraordinarily poor conditions in the job market."

Just to be clear. You do realize that Romney is saying that he supports relief from raising interest rates on students, right? Doesn't that count as a conservative move? The federal government raising interest rates on loans is akin to it raising taxes on people. Republicans oppose tax increases, so why should a Republican support raising interest rates on students?

jbotstein1
04-24-2012, 06:59
Taxes are mandatory. Student loans are not (I've got plenty of them).

Hyksos
04-24-2012, 07:02
Taxes are mandatory. Student loans are not (I've got plenty of them).

I understand. You are mistaken in that student loans are mandatory from the government. If this was a private loan company upping interest rates, then you wouldn't hear a word from me. The problem is that ALL loans are now with the feds, and when the feds decide to up interest rates it is akin to upping tax rates.

Taxes aren't mandatory unless you make money.

Federal loans are mandatory in that private student loan companies do not exist anymore (thanks to Obama).

jbotstein1
04-24-2012, 07:04
I got a private student loan this past year to supplement my federal loans. Got it through Wells Fargo.

Hyksos
04-24-2012, 07:12
I got a private student loan this past year to supplement my federal loans. Got it through Wells Fargo.

Subsidized.

See http://thecaucus.blogs.nytimes.com/2010/03/30/obama-signs-bill-on-student-loans-health-care/ from 2010

ALEXANDRIA, Va. – President Obama signed legislation Tuesday to expand college access for millions of young Americans by revamping the federal student loan program in what he called “one of the most significant investments in higher education since the G.I. Bill.”

The student loans are made using taxpayer money, with repayment almost entirely guaranteed by the federal government. The private banks get paid fees to originate the loans, and then sell them back to the government.

The new law will eliminate fees paid to private banks to act as intermediaries in providing loans to college students and use much of the nearly $68 billion in savings over 11 years to expand Pell Grants and make it easier for students to repay outstanding loans after graduating.

Wells Fargo isn't allowed to loan you the money. They are an intermediary for the federal government. Sorry, but you're part of the problem too, as am I. I got law school debt.

jbotstein1
04-24-2012, 07:15
I'm going to pay mine off in full. I don't think I'm part of the problem.

Hyksos
04-24-2012, 07:19
I'm going to pay mine off in full. I don't think I'm part of the problem.

I'm just saying we're part of the problem because we are forced to get loans from the feds. The feds have monopolized student loans, thus meaning we have to participate in the socialism. There's no choice.

coastal4974
04-24-2012, 07:22
May as well neutralize that election bribe from the Obama.

Kids are stupid, they don’t realize that they will still have to pay the bill.

RCP
04-24-2012, 08:19
A conservative move would be to get the Fed'l government out of the student loan business altogether.

RC-RAMIE
04-24-2012, 08:24
A conservative move would be to get the Fed'l government out of the student loan business altogether.

Couldn't tell by looking at our "conservative party" now days.

cowboywannabe
04-24-2012, 08:35
May as well neutralize that election bribe from the Obama.

Kids are stupid, they donít realize that they will still have to pay the bill.


yes, college doesnt make them smart all the way around.

JFrame
04-24-2012, 08:38
May as well neutralize that election bribe from the Obama.

Kids are stupid, they donít realize that they will still have to pay the bill.



If they even bother to think about it (unlikely, I know), they probably figure that they can kick the can down the road far enough that it won't impact them either.

They just don't realize the end of the road is a lot closer than it used to be.


.

RCP
04-24-2012, 09:03
Couldn't tell by looking at our "conservative party" now days.

Thats the problem

Brucev
04-24-2012, 10:22
Just to be clear. You do realize that Romney is saying that he supports relief from raising interest rates on students, right? Doesn't that count as a conservative move? The federal government raising interest rates on loans is akin to it raising taxes on people. Republicans oppose tax increases, so why should a Republican support raising interest rates on students?

Student loans should be handled in exactly the same manner as loans made by the fed. govt. to the banks... at exactly the same rates and exactly the same terms of repayment.

I do not consider student loans to be a big problem for the fed. govt. The biggest prob. for the fed. govt. is the cost of the dod and the bills for two off-the-books wars. As to S.S., that is easily fixed. Just remove the ceiling on earnings that are taxed... and tax the earnings of all "persons," be they individuals, or corporations... you know!

coastal4974
04-24-2012, 10:36
If they even bother to think about it (unlikely, I know), they probably figure that they can kick the can down the road far enough that it won't impact them either.

They just don't realize the end of the road is a lot closer than it used to be.


.


The actual bill will be larger considering that it will mean free college for anyone who enters the country.

So not only will they have to pay for theirs, but also all the people from Mexico, India, Canada, etc.

Then of course, their kids wonít be able to get in because it will be filled up with undocumented citizen students.
:rofl:

HexHead
04-24-2012, 10:51
As to S.S., that is easily fixed. Just remove the ceiling on earnings that are taxed...

Do you plan on raising the maximum payouts too then? Or are you one of those "tax the rich" types?

certifiedfunds
04-24-2012, 11:09
Student loans themselves are the problem. They create inflation which creates the need for student loans. Furthermore they perpetuate the poor use of educational resources.

Student loans need to go away. If they won't go away they need to have risk priced in appropriately, which will mean a high interest rate.

Too many people having too easy access to cheap tuition money is THE problem.

Restless28
04-24-2012, 11:15
That Romney! He's our guy!

:upeyes::rofl:

Brucev
04-24-2012, 11:19
Do you plan on raising the maximum payouts too then? Or are you one of those "tax the rich" types?

As far as I am concerned, a student loan should be extended in exactly the same manner that "loans" were made to the banks. I.e., the banks got the money from the fed. govt. at a giveaway interest rate. The banks turned around and loaned the money out at much higher rates and pocketed the difference as profit... all at the expense of the tax payer. Of course the wingtipped welfare class like this. That's why they have their bought and paid for house and senate write the laws that will allow them to steal other people's money legally.

If the banks are to big to fail, then students are to important to ignore. When and if the banks and their owners are forced to face the consequences of their own failure, then I would be most glad to see a similar level of accountability applied to those who own student loans.

Brucev
04-24-2012, 11:25
Student loans themselves are the problem. They create inflation which creates the need for student loans. Furthermore they perpetuate the poor use of educational resources.

Student loans need to go away. If they won't go away they need to have risk priced in appropriately, which will mean a high interest rate.

Too many people having too easy access to cheap tuition money is THE problem.

Ah... cheap money! Yep! That's the problem. Cheap money. Why... that's the exact reason why the defense industry is so overbuilt... all that cheap money being thrown at them by the fed. govt. Right! Bingo! Why... it creates inflation as the contractors just keep raising the prices of what they produce since the dod and other fed. govt. buyers will just keep writing the checks.

Yep. Cheap money. About like zero percent loans given free of charge to banks to bail out the wingtippers who stole other people's money and now expect the tax payer to pay the price of their little party.

To many dod contractors and to many banks having access to cheap fed. govt. money is THE problem.

certifiedfunds
04-24-2012, 11:45
Ah... cheap money! Yep! That's the problem. Cheap money. Why... that's the exact reason why the defense industry is so overbuilt... all that cheap money being thrown at them by the fed. govt. Right! Bingo! Why... it creates inflation as the contractors just keep raising the prices of what they produce since the dod and other fed. govt. buyers will just keep writing the checks.

Yep. Cheap money. About like zero percent loans given free of charge to banks to bail out the wingtippers who stole other people's money and now expect the tax payer to pay the price of their little party.

To many dod contractors and to many banks having access to cheap fed. govt. money is THE problem.

The topic is STUDENT LOANS.

Do you agree or disagree with my post which you quoted?


Why does middle America need financing for higher Ed?

Naelbis
04-24-2012, 20:20
Student loans themselves are the problem. They create inflation which creates the need for student loans. Furthermore they perpetuate the poor use of educational resources.

Student loans need to go away. If they won't go away they need to have risk priced in appropriately, which will mean a high interest rate.

Too many people having too easy access to cheap tuition money is THE problem.
Not that I disagree that the availability of student loans drives up the costs of education but student loans are not high risk by any means. Considering that outside of political manuverings fed student loans can't be gotten rid of unless you die, students really have no choice but to pay them back eventually. Even hardship deferments don't last forever. And I still maintain that there is more to higher education than just workforce training...:tongueout:

certifiedfunds
04-24-2012, 20:58
Not that I disagree that the availability of student loans drives up the costs of education but student loans are not high risk by any means. Considering that outside of political manuverings fed student loans can't be gotten rid of unless you die, students really have no choice but to pay them back eventually. Even hardship deferments don't last forever. And I still maintain that there is more to higher education than just workforce training...:tongueout:

ok. If that's the case then my only point is that they need to be priced appropriately, whatever that looks like.

That might mean that majors like elementary ed either don't qualify for as much money or pay higher rates than, say, electrical engineering, as opposed to the system now where all major fields qualify money equally, regardless of bankability after graduation.

Personally, I'd rather see higher educational costs subject to market forces to make it more affordable to middle America without debt. In case Brucev above hasn't noticed, we have a little debt problem in this country.

The Maggy
04-24-2012, 21:10
Student loans themselves are the problem. They create inflation which creates the need for student loans. Furthermore they perpetuate the poor use of educational resources.

Student loans need to go away. If they won't go away they need to have risk priced in appropriately, which will mean a high interest rate.

Too many people having too easy access to cheap tuition money is THE problem.

On a slightly different track, student loans also devalue the college degree.

At times now, it seems like the college degree is the new high school diploma

certifiedfunds
04-24-2012, 21:12
On a slightly different track, student loans also devalue the college degree.

At times now, it seems like the college degree is the new high school diploma

bingo!

And there isnt an undergraduate degree field that cant be attained while working to pay for it (at a state university)

jbotstein1
04-25-2012, 07:32
Not that I disagree that the availability of student loans drives up the costs of education but student loans are not high risk by any means. Considering that outside of political manuverings fed student loans can't be gotten rid of unless you die, students really have no choice but to pay them back eventually. Even hardship deferments don't last forever. And I still maintain that there is more to higher education than just workforce training...:tongueout:

There is something called the Public Service Loan Forgiveness Program that states if you work in public service for 10 years and make income based repayments during that time, your entire student loan debt is forgiven. For my wife that means, if she works in a public school for 10 years, for me it means if I work in a non-profit hospital for 10 years mine will be forgiven.

Naelbis
04-25-2012, 08:03
There is something called the Public Service Loan Forgiveness Program that states if you work in public service for 10 years and make income based repayments during that time, your entire student loan debt is forgiven. For my wife that means, if she works in a public school for 10 years, for me it means if I work in a non-profit hospital for 10 years mine will be forgiven.
And that fall under political manuverings does it not? I don't know about you, but all my student loans are on a 10 year payment schedule so even though I qualify for forgiveness I will pay them off before it happens. :dunno:

RC-RAMIE
04-25-2012, 08:38
There is something called the Public Service Loan Forgiveness Program that states if you work in public service for 10 years and make income based repayments during that time, your entire student loan debt is forgiven. For my wife that means, if she works in a public school for 10 years, for me it means if I work in a non-profit hospital for 10 years mine will be forgiven.

Its not really forgiven just means other people end up paying it for you.