Obama scare tactics

[Gary and Alla 3,694]

Typical Dem politics. Health care costs skyrocket and the plan is to take over the business and toss out the private insurance companies, limit profits etc, etc.

But when colleges, the bastion of liberal politics, increase their costs to the stratosphere, what is the concern? Interest rates. Is anyone really concerned that student loan interest rates are 2% or 6% when the tuition for a year at Rice is $37,000 or a year at St Micheals is $32,000 and a year at UVM is $16,000...tuition ONLY? Seriously?

Why have there not been the investigations, the outrage, the demand for government control over the cost of education as there is over the cost of medicine? Teachers unions perhaps?

Obama is losing the young vote, he cannot fill a stadium half the size of the ones he did in 2008, even with the help of Jimmy Fallon and a popular band, so he appeals to them by saying that the government needs to keep their loan rates low? And they buy into it?

Must be undergrads.

[Usui Takumi 1,562]

Typical Dem politics. Health care costs skyrocket and the plan is to take over the business and toss out the private insurance companies, limit profits etc, etc.

But when colleges, the bastion of liberal politics, increase their costs to the stratosphere, what is the concern? Interest rates. Is anyone really concerned that student loan interest rates are 2% or 6% when the tuition for a year at Rice is $37,000 or a year at St Micheals is $32,000 and a year at UVM is $16,000...tuition ONLY? Seriously?

Why have there not been the investigations, the outrage, the demand for government control over the cost of education as there is over the cost of medicine? Teachers unions perhaps?

Obama is losing the young vote, he cannot fill a stadium half the size of the ones he did in 2008, even with the help of Jimmy Fallon and a popular band, so he appeals to them by saying that the government needs to keep their loan rates low? And they buy into it?

Must be undergrads.

He did propose a plan a few months ago to control tuition rates but with the tie up in congress I don't think it went anywhere.

[Obama 2012 1,714]

I also find it amusing that he gripes about interest rates...

First he takes college loans away from the banks and makes it a part of the government, now he's griping about it...

This guy is something else..

[Gary and Alla 3,694]

I also find it amusing that he gripes about interest rates...

First he takes college loans away from the banks and makes it a part of the government, now he's griping about it...

This guy is something else..

Yeah, when he did that it cost 400 jobs at the Vermont Student Assistance Corp. (VSAC) a private NON profit organization that was doing an outstanding job of helping all the students in the state and giving us the unique ability to "one stop shop" for student aid. Not anymore. Brilliant

But again, are we worried about the interest rate that someone pays on their credit card for medical costs? NO! So why are we concentrating on the interest rate paid for education instead of on how to reduce the cost of education?

Edited April 25, 2012 by Gary and Alla

[웃 910]

Typical Dem politics. Health care costs skyrocket and the plan is to take over the business and toss out the private insurance companies, limit profits etc, etc.

But when colleges, the bastion of liberal politics, increase their costs to the stratosphere, what is the concern? Interest rates. Is anyone really concerned that student loan interest rates are 2% or 6% when the tuition for a year at Rice is $37,000 or a year at St Micheals is $32,000 and a year at UVM is $16,000...tuition ONLY? Seriously?

Why have there not been the investigations, the outrage, the demand for government control over the cost of education as there is over the cost of medicine? Teachers unions perhaps?

Obama is losing the young vote, he cannot fill a stadium half the size of the ones he did in 2008, even with the help of Jimmy Fallon and a popular band, so he appeals to them by saying that the government needs to keep their loan rates low? And they buy into it?

Must be undergrads.

So is Herman Cain still gonna win since he is the guy all the Dems don't like....And Romney gonna lose because the Dems like him?

[Póg mo 1,749]

Typical Dem politics. Health care costs skyrocket and the plan is to take over the business and toss out the private insurance companies, limit profits etc, etc.

But when colleges, the bastion of liberal politics, increase their costs to the stratosphere, what is the concern? Interest rates. Is anyone really concerned that student loan interest rates are 2% or 6% when the tuition for a year at Rice is $37,000 or a year at St Micheals is $32,000 and a year at UVM is $16,000...tuition ONLY? Seriously?

Why have there not been the investigations, the outrage, the demand for government control over the cost of education as there is over the cost of medicine? Teachers unions perhaps?

Obama is losing the young vote, he cannot fill a stadium half the size of the ones he did in 2008, even with the help of Jimmy Fallon and a popular band, so he appeals to them by saying that the government needs to keep their loan rates low? And they buy into it?

Must be undergrads.

Why should the private sector get paid to dole loans that essentially government guaranteed? Talk about money for old rope! Prior to 2005it was still possible to discharge private student debt. The private sector promised at the time to reduce cost of providing student loans, but of course never did. Instead they just got rich selling the debt on to other institutions and then using the money collected to support more lending.

[Dan and Judy 614]

just close all the insurance companies and the cost of health care would plumet

[Leatherneck 693]

Why should the private sector get paid to dole loans that essentially government guaranteed? Talk about money for old rope! Prior to 2005it was still possible to discharge private student debt. The private sector promised at the time to reduce cost of providing student loans, but of course never did. Instead they just got rich selling the debt on to other institutions and then using the money collected to support more lending.

The bigger question should be, why is the federal even involved in education at any level? The fools in D.C. are spending 6Bil taxpayer dollars to subsidize interest rates on student loans and student loan debt is approaching a trillion dollars.

Something tells me when the student loan bubble pops, the 'govt is the answer' crowd will somehow blame the private sector boogeyman -- when the culprit is glaringly obvious.

[one...two...tree 2,762]

Obama rocks and haters are gonna hate. He's the best president we've had since Clinton. Go Democrats!

[Neonred 3,444]

Typical Dem politics. Health care costs skyrocket and the plan is to take over the business and toss out the private insurance companies, limit profits etc, etc.

But when colleges, the bastion of liberal politics, increase their costs to the stratosphere, what is the concern? Interest rates. Is anyone really concerned that student loan interest rates are 2% or 6% when the tuition for a year at Rice is $37,000 or a year at St Micheals is $32,000 and a year at UVM is $16,000...tuition ONLY? Seriously?

Why have there not been the investigations, the outrage, the demand for government control over the cost of education as there is over the cost of medicine? Teachers unions perhaps?

Obama is losing the young vote, he cannot fill a stadium half the size of the ones he did in 2008, even with the help of Jimmy Fallon and a popular band, so he appeals to them by saying that the government needs to keep their loan rates low? And they buy into it?

Must be undergrads.

As Gary says, the problem is not 2% vs 6% interest rate on student loans. The problem is that college costs are increasing an unrealistic 8% to 10% or more each year. Totally out of line with inflation.

I have a daughter that, thank God, is graduating in two weeks from dental school. The tuition cost this past year was over $60,000.

Edited April 27, 2012 by Neonred

[Gary and Alla 3,694]

Why should the private sector get paid to dole loans that essentially government guaranteed? Talk about money for old rope! Prior to 2005it was still possible to discharge private student debt. The private sector promised at the time to reduce cost of providing student loans, but of course never did. Instead they just got rich selling the debt on to other institutions and then using the money collected to support more lending.

And your solution?

[Gary and Alla 3,694]

As Gary says, the problem is not 2% vs 6% interest rate on student loans. The problem is that college costs are increasing an unrealistic 8% to 10% or more each year. Totally out of line with inflation.

I have a daughter that, thank God, is graduating in two weeks from dental school. The tuition cost this past year was over $60,000.

Its nuts! Sergey got a full paid scholarship and stipend, who the heck could afford $60,000 + per year for school, room and board? For Alla we worked our butts off to avoid having student loans, but it was only $16,000 per year after her 50% scholarship.

Full tuition in Russia at Moscow Institute of Physics and Technology for a FOREIGN student who gets NO subsidy? $3700 per YEAR plus a whopping $1200 per YEAR for a graduate apartment. When he had an undergraduate dorm it was $700 per year WITH full meal service at the school cafeterias (2).

It is OUT OF CONTROL and Obama is arranging deck chairs on the Titanic. In case you wonder why there are so many foreign doctors, scientists in this country. Had Sergey not been able to get a paid scholarship here he would be doing his doctorate in Moscow also.

Edited April 27, 2012 by Gary and Alla

[jaycali 415]

Typical Dem politics. Health care costs skyrocket and the plan is to take over the business and toss out the private insurance companies, limit profits etc, etc.But when colleges, the bastion of liberal politics, increase their costs to the stratosphere, what is the concern? Interest rates. Is anyone really concerned that student loan interest rates are 2% or 6% when the tuition for a year at Rice is $37,000 or a year at St Micheals is $32,000 and a year at UVM is $16,000...tuition ONLY? Seriously?Why have there not been the investigations, the outrage, the demand for government control over the cost of education as there is over the cost of medicine? Teachers unions perhaps?Obama is losing the young vote, he cannot fill a stadium half the size of the ones he did in 2008, even with the help of Jimmy Fallon and a popular band, so he appeals to them by saying that the government needs to keep their loan rates low? And they buy into it?Must be undergrads.

I'll agree that tuition costs are out of control. But to the unfortunate of us who have student loans up to our throats, a low interest rate is what keeps me able to pay them off comfortably. That 2% vs 6% difference is a rather large sum of money when we're talking $50k+

The only way to significantly decrease tuition costs would be government subsidies/funding, but I know of at lease a dozen states that can't afford that.

Edited April 27, 2012 by jaejayC

[Gary and Alla 3,694]

I'll agree that tuition costs are out of control. But to the unfortunate of us who have student loans up to our throats, a low interest rate is what keeps me able to pay them off comfortably. That 2% vs 6% difference is a rather large sum of money when we're talking $50k+

The only way to significantly decrease tuition costs would be government subsidies/funding, but I know of at lease a dozen states that can't afford that.

I am trying to look at it as an issue that affects more than just people that have loans now. Obama is not. The rates WERE 6%. The Democrat controlled congress in 2007 did a 5 year reduction of the rates which was quite conveniently going to make the topic come up again at election time (who knew?) So now Obama will "ride to the rescue" and try to keep the rates for another, what...4 years? Then what? Who is doing anything besides kicking the can down the road?

Really, they can do nothing but subsidize? UVM terminates its President for a sex scandal and he gets a $1.6 million "going away" present? How many students would that educate? Seems that when the subject is the politicians buddies in the teacher's unions they just have no solutions except subsidies they "can't afford" but they have plenty of answers for medical costs that do not involve subsidizing anyone.

[Neonred 3,444]

I'll agree that tuition costs are out of control. But to the unfortunate of us who have student loans up to our throats, a low interest rate is what keeps me able to pay them off comfortably. That 2% vs 6% difference is a rather large sum of money when we're talking $50k+

The only way to significantly decrease tuition costs would be government subsidies/funding, but I know of at lease a dozen states that can't afford that.

Your existing loan rates are not going up. It is only the rate for newly issued loans that will be affected. All outstanding loans will not change.