"According to the Project on Student Debt, college students who graduated in 2011 owed more than $26,000 in student loans, which Warren said is, "crushing our young."
Warren ran for Senate promising to fight against an economic system she described as "rigged" in favor of big business. She said her legislation is intended to raise questions about why banks get a dramatically subsidized loan rate and what can be done to reduce debt burdens for students and consumers. The simple answer -- that the Fed could subsidize students instead of banks -- is an uncomfortable one and goes to a core inequality at the heart of the financial system.
I believe that this woman is a champion for the people...wish we had more like her in Congress.
Quote from tntrn
I think students who take out massive amounts of debt, without a care how they will repay it, or to seek a degree that has few actual job opportunities, have been poorly advised. That's where it should start. Why make the taxpayers accountable? These "kids" always want to be treated like adults.....does that mean except paying back money you owe?
Deep breath..............I think the problem lies in the fact that college tuition has skyrocketed in the last ten years.
I was able to get an ADN degree which provided a job with a median income and pay for it as I went with part time work thirteen years ago. That is no longer possible. Students of today pay over double per credit hour that I paid even at community college.
Go back further and you'll find that students paid less than I did yet were able to get an affordable college education without having to spend the years where they should be saving for a house on college debt. Where will all this end? There are no apprenticeships or on the job training any more for jobs that would provide a median income where one could raise a family without going to college. It's college or fast food unfortunately.
Also, taxpayers have historically been on the hook for higher education even in the days that the teapartiers seem to want to take us "back" to. Without it we would never have the professionals we need, and delve further into the race to the bottom.
Why do you have a problem with students getting low interest rates but not banks?
Incidentally, how much college debt did you accrue, TNT?
Last edit by StNeotser on May 10, '13
May 12, '13
only in liberal land do facts=contrived. The failings of Elizabeth Warren have been well documented but liberals always try and explain it away and offer excuses
Quote from tewdles
People with conscience and a brain typically do not engage in name calling, especially when the basis for the name calling itself is contrived.
Last edit by Esme12 on May 13, '13
: Reason: TOS