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Obama’s plan to streamline student loans draws resistance from lawmakers, industry
Fri, 01/29/2010 - 13:36
- Length: 4:25 minutes (4.04 MB)
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President Barack Obama announced a $33 billion dollar stimulus package that will go towards jobs creation. At a stop in Baltimore, Maryland today, he said the money will be used in the form of a tax credit for small businesses that increase their employment ranks. This follows the president's State of the Union address Wednesday in which he tied most of his plans to helping the struggling economy. Another proposal was for making college more affordable for students. His idea: to cut banks out of the student-loan making process. A bill to do just this has already passed in the House. But as FSRN's Karen Miller reports, it’s meeting opposition from Republicans, Democrats and the industry.
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Fishy
This is just another method of the socialists trying to take over yet another aspect of American life. If you want your student loans forgiven in half the time you have to work for the government. This sounds fishy to me. casino en ligne
Good idea.
The student loan process is not fine as is. It is costly. Direct Lending is a lot cheaper to administer for the taxpayers than subsidies to banks.
Also, life-long Indebtedness does not drive an economy. If there is no cost benefit to going to college then we lose doctors, teachers, nurses, etc and well fall behind in the world economy.
Bad idea.
Just another usurpation by government to suppress the private economy. The student loan process works just fine as is.
Further, as outlined this will cost us, the taxpayers, a boodle. Imagine how much debt will be "forgiven" as time runs out, especially for those entering government service (not yet well defined).