Quantcast

Comments about ‘Student loans targeted in health care bill’

Return to article »

Published: Tuesday, March 23 2010 12:00 a.m. MDT

Comments
  • Oldest first
  • Newest first
  • Most recommended
Get A Clue

Hmmmmm......

Gov't now owns a car company, has their nose in regulating home mortgages, in about an hour they'll be the rulers over health care and also student loans.

But, hey, liberals, just remember, the government isn't taking over anything....

Hey Dixie Dan

your blindness fails to see that the Socialists would not give Boehner and team the time of day. Did you also forget that bribery got this bill passed and that SS and Medicare are fraudulent systems, good luck with student loans. Guess there is really no sun in your "Dixie".

Paying to much in interest for

I am glad that the thieving banks are out of the loop for student loans. It was an easy way for them to make money. They risked nothing; it was the tax payers who risked bad loans. The banks just collected the money.

Anonymous

A generation ago, most of us got through college without loans, grants or any government help. How did we manage that? we worked while we went to school. Our parents saved up money (there's a novel idea) so they could help us go to college. Obama hates the banks for lending too much to home buyers, but he's all over loaning money to students who don't even have a job? Do yo see a pattern here? where is this leading? Let's not all be so stupid.

Greedy Banks?

When you go to church, walk through your neighborhood, go to the grocery store, a portion of the people you see there are those who work and receive their paychecks from the "greedy banks". They are people just like you and me. Take a look at where your family receives its paycheck. Do you want government to regulate it to control the "greedy" owners? They say they are taking over private industry to save us taxpayers from the "greedy" owners. I don't believe it.

cedar constitutionalist

"When the people find they can vote themselves money, that will herald the end of the republic" Ben Franklin had that right.

It's not so easy...

To the person who suggested everyone should "work" his/her way through college, as he/she did a generation ago, please understand that the cost of getting an education has increased exorbitantly. In fact, evidence routinely shows that tuition prices have inflated much higher than anything else (standard of living, etc.). Do you know how much an education costs today? It is A LOT more than it was a generation ago, so you are being unrealistic to suggest that people should be capable of paying for an education while simultaneously working.

Broke 27 yr. old

If you've ever owed UHEAA for student loans, you know what a nightmare it is! Sure the loans went through a 3rd party bank for about 5 minutes, then onto the monolith UHEAA. College education is way too expensive. Nothing like watching a young person crippled by upwards of $25,000+ in student loans that they can't pay off and many don't finish the degree anyway! They have young families, can't discharge any of this in bankruptcy (student loans and child support - a big debt prison). I only took out $8000. and it was a nightmare to deal with UHEAA - they don't credit payments, confiscate tax returns and put judgements against wages. Entry level wages are almost nothing, if you can get hired at all in your field. Most college students think they will make SO much more when they graduate than they do. I'm glad this is in effect because the 3rd party banks don't do a thing, but cash in on students. Pell grants don't even cover full tuition or books anymore and the cost keeps sky rocketing. Is a college degree even worth it?

What?

@ annonymous @8:45
A generation ago you could work and pay for college - yes, my tuition was about $200. a semester! It wasn't $5000.+ a semester! Books didn't cost $150+ for one book either! College housing and FEES weren't expensive either. Obviously you haven't paid any tuition lately. Of course we could work during the summer and pay for school AND live in the dorms. Do you honestly think a young person could make that much over the summer? My daughter made less than $3000. last summer. By the way, we did save for our kids college education - and due to the economy our investment is worth half as much as it was 3 years ago. Welcome to my world - you don't know what your talking about.

?

@Cedar Constitutionalist
Your so far away from Ben Franklin or the constitution. I hate it when people spout on these boards "constitution" or Socialist-Communist. Those two words aren't even the same thing. What does your comment even have to do with the changes in student loan banks being cut off? All you people who think private greed mongering capitalists have all the answers are fools. Big business never looks out for the middle class. Banks are only interested in ripping us off and big government welfare - take a look at where tarp funds went and big bonuses those 1% at the CEO's get. Business will never run government. Our constitution didn't say "bail out banks" and give them student loan cash either.

Anonymous

Sorry but student loans adminstered by the federal government will not benefit you at all. It will cost you more and your service will most likely be reduced (can you say Driver's License Division?).

This bill does not save students money because the interest rates are still the same. What it does though is remove private funds from the marketplace and uses Treasury funds for student loans. This article incorrectly indicated that student loans have been funded federally for years and that banks were just the middlemen collecting fees. True about the fees but the banks used their money to fund the loans, not federal monies.

Recent credit markets and increased costs forced banks out of the student loan market. The only benfit this bill offers is a stable source of funds until China calls their loans due. It does not provide any savings for student borrowers as interest rates are still the same.

Good luck dealing with the feds on your student loans while trying to figure out why you can't get a referral from your family physician to see a specialist for that tumor in your stomach.

WBM5

Where is the total disclosure? Where is the open policy? Are we again be duped? I don't want the government in control of my student loans. They can't even take care of what money they have now.
This is supposed to save money? Really how many times have we heard that? What is going to happen is the government will not be able to handle it and have to pay to outsource it thereby paying more for it then now. and they the costs will be passed on to .....guess who!!!

and more gov helps?

I agree broke 27. Dealing with UHEAA is a nightmare, but do you REALLY think going from a state gov agency to dealing with the FED is going to be better?!! I deal with both the state and FED government on a daily basis. I also deal with county and city governments. I can tell you one thing for sure, the larger the government agency, the worse it gets. And I am not talking several times worse, its exponential! Having the FED take over something like student aid will NOT make things easier, just worse. The fed should only be responsible to keep interstate commerce fair, keep a standing army, and regulate international trade. Other than that, the closer to home programs are run, the better.

JediToby

You don't have to be liberal to appreciate this provision, just have a student loan. Anyone who's done their research knows this is the government coming full circle over 50 years. The critics arguments are disingenuous and half-hearted. This is something students have wanted for a long time. "One size fits all" actually works great for loans, and the various repayment plans put out by the government are for more tolerable than any bank or credit union could afford.

The only thing that actually changes is the way the money is accounted for in the federal budget specifically, it's accounted for). The government has been servicing these loans since their inception and the ill-conceived "let private business handle them so they don't show up on the budget" plan has finally come to a just and inglorious end.

Father of the

(Natalia) "Martinez, originally from New Jersey, said private lenders charge too much in fees and interest, which the federal government keeps low. With Utah's comparatively low tuition, she said it is entirely possible to attend school on Pell grants alone."

Correction/clarification. This article is about fedearl student loans. Private lenders, i.e. banks and credit unions, have traditionally made federal student loans which have fees and interest rates set by the federal government. The rate is the same as the direct loans this bill now imposes on everyone. Some private lenders also make private education loans which do have higher rates than the federal student loans they also provide. Don't confuse the two.

Historically, the banks and credit unions have charged lower fees than the federal government has and will continue to charge on student loans. They could do this because private lenders and loan servicers are more efficient than the government. Thems the facts, ma'am!

Perkins Loan

In this bill it did not touch the Federal Perkins Student Loan. It will still be administered through the school, and paid back to the school, so it can fund another student. At a 5% interest rate, you can't beat it.

Knowwhat

The only good difference between the health care bill and the student loan provision is that, no one is forced to get a student loan. Oh, wait that is coming, everyone will have to get a loan to go to college, that way the government can control what you study and where you go. Can anyone say, "back in the USSR".

WOW!!!


You Obama haters/Republican ideologues amaze me!

The federal government has been subsidizing/guaranteeing the private student loan industry, which has allowed banks to reap billions in risk-free profits without adding any value for years. Any true FISCAL CONSERVATIVE (which I am) is infuriated by that process. The current changes strip out the unnecessary middle man that added no value. I am very, very confused by any purported fiscal conservative/free market advocate who has a problem with that.

C'mon people, PLEASE start doing some independent reading and thinking!

How can so many people...


be so massively uninformed? I sure hope this comment board doesn't reflect the best minds of Utah. If so, I am very afraid.

Wonder

how many students will now qualify for PELL grants (costing the government millions more) because they can come off their parents insurance, enabling them to use only their income as the qualifier for a PELL grant. Many students now living on their own, can qualify becuase they have to use their parents income in order to stay on their insurance. Since we now have socilized insurance, they can now go into the "free" pool. One of many brilliant ideas I'm sure that were "snuck" through.

to comment

DeseretNews.com encourages a civil dialogue among its readers. We welcome your thoughtful comments.
About comments