Student Loans

[teko]

The pres signed the "fixes" bill today. One of the things changing is that student loans will no longer be in the hands of the banks. There will be a non profit governmental organization set up to handle student loans, saving 68 billion. Opinions? The money saved will go to further education. Opinions?

[StormyRenee]

Capitalism.....Healthcare bill...
Yes it is just another step in making the government the only game in town...

All these post- appocalyptic films and books  that show the world dominated by one large cooperation may not be fiction for much longer....

[allaboutmary]

I think certain things need to be government run and non-profit.   The majority of the whats in the health care bill is promoting capitalism.

[StormyRenee]

I have mixed feelings about this..Ofcourse lower intrest rates would be great...But at what cost?To me there are more important things that money.
If we keep letting the government take over everything what will be left? Where does our personal choice go?

[teko]

The bill the President signed this morning includes historic investments to make education more affordable, and delivers on a key campaign promise. The legislation:

-- Ends subsidies to special-interest private lending companies.

-- Doubles funding for Pell Grants to help more students afford a college education.

-- Will cap a graduate's annual student-loan repayments at 10 percent of his or her income.

-- Helps an additional 5 million Americans earn degrees and certificates over the next decade, by revitalizing programming at our nation's community colleges.

[mikesimon]

But the government does seem to just get bigger and bigger....

Yeah, but would you like a lower interest rate? Nah, that doesn't matter.

[Barb135]

Are you saying that if a person pays back 10% of their annual earnings, they've paid back the loan; or the payments would only be 10% of their annual earnings divided by 12?  

[teko]

I heard on the news that the pay back would be not over 10% of someones annual income/ Payments I assume? I would assume getting the middleman profit out of the program is what saves the money to be put elsewhere? I only know what I hear on the news and like the rest of you, not informed enuff as yet.

[StormyRenee]

My student loans were government loans to begin with....

I too do not know enough about this to have an opinion yet...
But the government does seem to just get bigger and bigger.....

[Barb135]

No, I'm not paying back any student loans, but I, too, know people who are.  I did state in my first comment on this post, that I'm not real familiar with that portion of the bill.  I will make it a point to talk to my friends who are paying back student loans and see what they think.

[mikesimon]

I'd guess you don't know anyone paying back a student loan because everyone I know who is - parents included - are thrilled.

Mike

[allaboutmary]

I think it was a good idea to take out the middle man. Actually the government was handling almost 80% of student loans already.  I see no reason for banks to make billions on the backs of students, plus the education system could really use this money.

[Barb135]

I haven't read enough about the student loans yet to form an opinion.  The first thing that comes to mind, though is that's one more thing the government is taking over, which I have a hard time with.  

If there is $ saved and it goes to actual education, that part would be good; however, if the $ saved go to support more "fat cats" at the top -- I have a real problem with that.  We don't need more administration, we need more good teachers, maintenance people, etc -- those that actually do the work to teach and keep the schools clean, maintained, etc.