President bitchslaps the bankers. Round 1.

[boaz]

President Barack Obama signs student loan changes into law

March 31, 2010

WASHINGTON (AP) - President Barack Obama approved legislation Tuesday that makes the government the primary issuer of student loans.

Proponents of the change say it will provide bigger grants for college students who need them and relaxed payment terms for students with loans. It will also more money available for community colleges and historically black institutions

On the other side of the coin, banks and other financial institutions stand to lose.

cont.

Associated Press

boaz Reviewed by boaz on 04-05-2010. President bitchslaps the bankers. Round 1. President Barack Obama signs student loan changes into law March 31, 2010 WASHINGTON (AP) - President Barack Obama approved legislation Tuesday that makes the government the primary issuer of student loans. Proponents of the change say it will provide bigger grants for college students who need them and relaxed payment terms for students with loans. It will also more money available for community colleges and historically black institutions On the other side of the coin, banks and Rating: 5

[demoreal]

That is a very good thing for me.

[killerweed420]

But should tax payers be forced to pay for someone elses college?
I've got an old piece of shit car but I don't expect tax payers to buy me a new one.

[pepurr]

But should tax payers be forced to pay for someone elses college?
I've got an old piece of shit car but I don't expect tax payers to buy me a new one.

That is a good question.

One thing for sure, a society with highly educated people usually has a higher standard of living. Also, if more people are better educated they make more money and pay more in taxes.

On the other hand, if the government didn't take so much money in taxes, people would be able to buy more stuff, and that would make more jobs. Then maybe they could afford to pay for collage themselves.

Maybe they could discuss it more in a "joint" session of congress. :rastasmoke:

[boaz]

...Maybe they could discuss it more in a "joint" session of congress. :rastasmoke:

:rastasmoke:

I was fortunate that I didn't have to borrow much to get thru college and I worked all thru it. I think everyone else should do the same. Don't borrow money in general unless you want to be a slave to usury. But then again, my tuition and reg fees back then were $420 a quarter :stoned:

here's the way I see it. I agree with the above that its in our collective interest to have an educated society, more tax revenues, etc.

but I've never seen the value that the banks bring into the whole equation. the loans are guanteed by the federal gov't (which means that the feds can, and will, take away your social security to collect the payments). So the banks have zero risk and enjoy massive rewards in interest revenue for doing jack shit. I'd like them taken completely out of the mix. I really hope this is just a warm up. :jointsmile:

I was going to come up some kinda cleansing the temple of the money changer theme for Easter but thought naaa f it. :rastasmoke:

[demoreal]

Also, if more people are better educated they make more money and pay more in taxes.

:rastasmoke:

Thats a really smart thought.

[pentigram]

But should tax payers be forced to pay for someone elses college?
I've got an old piece of shit car but I don't expect tax payers to buy me a new one.

I know what you mean. I'm getting a car in about a week. I'm VERY excited about it. It's not pretty, or new, but it will get me from point A to point B, and if I'm lucky maybe even back to point A for a repeat

[Rusty Trichome]

I find it difficult to comprehend why our country is in the loan business period. Starting with the commerce clause mis-interpretetation many decades ago, and continuing with the sub-prime mess created when our elected government officials got together with ACORN chapters to start picketing bankers offices and homes, to create a friction between the classes. Pitting those responsible with their money and finances, against the crack-buying welfare parents and social justice programs. Regulating the banking industry I do understand, but socializing it is unsustainable and undesirable.

What elected official has the right to tell me that even though someone else can't afford an education or a home, is on welfare, and has defaulted in the past, that they 'deserve' the same opportunity as me...whom has been working for 40 years to maintain my own level of comfort...and I get to foot the bill when they fail? Bullshit.
Same with tuition...even though some moron can't get a part-time job to take resopnsibility for his/her own life, or go to a community college as a starting point...me and my children will assist them through 14 years of frat parties, binge drinking and unlearning American values and morals in a planned attack on constitutional laws and intent...?

Funny how some of the liberals say it's the charitable christian principles we need to follow since we all are created equal...we all should be afforded the same opportunities regardless of personal responsibility and effort required to maintain that standard. But when the fuck did liberals become concerned with christian principals, as all of their principles and "seperation of church and state" mantra(s) indicate a distinct disdain for christianity and christians? (God was a personal responsibility advocate, and charity began at home, not in the government)
Any lie to fill the void of morality, I guess. Whatever it takes to convince the masses of their altruistic intents, which are actually centered to remove our choices, side-step personal responsibility and dictate my neighbor's value in my financial stability, is truly a socialists dream.

Obama has slipped into a lame-duck presidency but perhaps will be destined to be well-regarded in history. <cough, choke>

[RedLocks]

Funny how some of the liberals say it's the charitable christian principles we need to follow since we all are created equal...we all should be afforded the same opportunities regardless of personal responsibility and effort required to maintain that standard. But when the fuck did liberals become concerned with christian principals, as all of their principles and "seperation of church and state" mantra(s) indicate a distinct disdain for christianity and christians? (God was a personal responsibility advocate, and charity began at home, not in the government)
Any lie to fill the void of morality, I guess. Whatever it takes to convince the masses of their altruistic intents, which are actually centered to remove our choices, side-step personal responsibility and dictate my neighbor's value in my financial stability, is truly a socialists dream.

This is funny, true and just that.. Whatever it takes to convince the masses of their altruistic intents, but don't for a second think that left or right operate any differently in these regards, they just spin their politricks with a different colored yarn.

[boaz]

I don't see this a Christian or moral cause. I see it as a good return on investment. Educated people make MUCH more money and thus pay MUCH more in taxes. It is that simple. That is why I support education in general for Americans. strictly for its ROI value.

But mostly what the President has corrected here is that my tax money will no longer go to subsidise the student loan industry for doing nothing. This new law does expand grants but the loan thing is not a handout. It is a loan. We, the taxpayers, will now be earning interest on our investment in student loans as well as receiving a substantial dividend down the road in more tax revenues. I see it as win win all around. except for the student loan profiteers, they are screwed. :rastasmoke: