Legislative Help for Student Loans and Debt?

  1. 4
    "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.
    Pudnluv, leslie :-D, BCgradnurse, and 1 other like this.
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  3. 127 Comments so far...

  4. 4
    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?
    Emergent, imintrouble, CrufflerJJ, and 1 other like this.
  5. 0
    too bad she is a documented liar and fraud and self serving racist.

    Quote from tewdles
    "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.
  6. 8
    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
  7. 3
    Quote from 22gawhitacre
    too bad she is a documented liar and fraud and self serving racist.
    I see talk radio must have Elizabeth Warren as public enemy number one these days.
    BCgradnurse, KelRN215, and tewdles like this.
  8. 2
    Quote from StNeotser
    Incidentally, how much college debt did you accrue, TNT?
    I have no problem with low interest rates. I have a problem with kids living the high life, ordering pizza and putting it on their credit cards instead of eating in the dorm, fancy cell phones, bling and yada, yada, yada, while they are in school

    It's really nobody's business how much debt I or anybody else incurred, but since I went to school in the early 70's, the number is a much smaller one that what people have now. But I DID eat in the cafeteria because it was part of my dorm plan, I had no car for the first half of college, I didn't have a phone either, of course. During nursing school, I took out small loans, so probably owed less than $3000 in the end. I don't actually remember. And of course, my first nursing job paid $5.72 an hour. I had two kids and a useless husband at the time. And I paid off every penny of my loan....never asked for help from my parents, or expected the bank to just write it off.
    CrufflerJJ and herring_RN like this.
  9. 7
    Clearly I believe that the American citizens have as much right to low interest government loans as Corporate "citizens" do.

    What the American government can't afford is continuous war, supporting those who can support themselves (ie; big business), "trickle down" economics, and austerity measures above everything else.

    It is really easy to throw stones at hypothetical college students who are bad at managing money...but to assume that the majority of college students are that irresponsible is unfounded and rather bitter, in my opinion.

    I have lived in college towns my entire life.
    I live in one now.
    I know more college students than I could easily number.
    I have children in college.

    The most extravagant of all of those students is attending a major university on a full academic scholarship. They give her plenty of $$ to have a nice social life.

    Most of the students that I know reasonably well do not have parents who can contribute to their educational pursuits. They are hard working and careful about finances. An occasional pizza and beer dinner with friends should be expected.

    Most do not meet the cynical stereotype offered by tntrn, again in my experience and opinion.
  10. 9
    College costs have increased by 1,120% since 1978.

    Cost of College Degree in U.S. Soars 12 Fold: Chart of the Day - Bloomberg

    Paychecks have not. So the return on the investment, in whatever major someone decides isn't going to pan out. I do not think there are many people taking out this debt "without a care of how to repay it" I think they're from normal families and don't want to end up in a dead in job and feel that college is their only route out. I think they're very worried about how they're going to repay that debt.

    They probably look at the generations one or two before them who could get a job and buy a house without even going to college. The generation who is getting full social security and medicare benefits. And wonder why that generation got such an easy ride.
  11. 0
    nope, just people with a conscience and a brain.

    Quote from StNeotser
    I see talk radio must have Elizabeth Warren as public enemy number one these days.
  12. 3
    People with conscience and a brain typically do not engage in name calling, especially when the basis for the name calling itself is contrived.


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