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01-20-2010, 05:23 PM #1
Obama to Nationalize Student Lending
First the banks and automakers, soon health care and maybe sooner Student Lending. Hopefully, Republicans can win more seats this November so we can stop the full take over of government in every private institution!
A bill currently before the Senate would empower the Obama administration to nationalize the student lending industry, eliminating the federally subsidized private loans millions of university students rely on to finance their educations.
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01-20-2010, 05:30 PM #2
How does that not make sense? They cant gauge students with crazy interest rates and if a student defaults the government repays the lender it will make it so more loans are available to more people because the lenders will get repaid by the government if the said student defaults so there is less risk to them and student with poor credit cant get raped by the lender with a 20% interest rate. If I am not understanding something please enlighten me.
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01-20-2010, 05:31 PM #3
Oh and your profile pic is EPIC Mikesilva that baby has a wicked arm bar on Elmo I LOVE IT!
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01-20-2010, 05:40 PM #4
How does that not make sense? They cant gauge students with crazy interest rates and if a student defaults the government repays the lender it will make it so more loans are available to more people because the lenders will get repaid by the government if the said student defaults so there is less risk to them and student with poor credit cant get raped by the lender with a 20% interest rate. If I am not understanding something please enlighten me.
If the student doesn't pay back the loan Uncle Sam foots the bill. I'm not totally against a bill that provides cheap loans for students, but this is ANOTHER example of how we are becoming a socialist country with Obama in office. The more government takes over the closer we move to Socialism.
This means the government can pick and choose WHO gets a loan. What if Obama decides as a government policy that Affirmative Action is the way to go and chooses based on race?
Also, I NEVER trust government numbers. For example, the "Big Dig" in Boston went over budget by like 300%.
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01-20-2010, 05:52 PM #5
As I explained in another thread, I'm against making it easier for people to go to college. The more people go to college, the more watered down and more expensive education is and the less valuable a high school diploma is.
But that aside, as I'm sure everyone knows by now, I'm against any government takeover of a private industry.
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01-20-2010, 06:38 PM #6
How so? Going to college and graduating are two different things. As we discussed earlier not all students should go to college.
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01-20-2010, 06:57 PM #7
Well to summarize the long conversation we had about it in the other thread, more college graduates (I'm assuming they graduate) means more companies require college educations when one isn't necessary, meaning people with just a diploma/GED can't get those jobs. You now need a Masters for jobs that used to require just a Bachelor's, which means people are going to school longer and paying much more money to get a job they used to be able to get with less time and money invested. That also means high school educated people are more limited in the jobs they can get, ie keeping the less fortunate down. It's hard to achieve the "American dream" working at Blockbuster or Wal-Mart...
As we talked about, if you make it harder to get into college, you make a college degree worth more and you make it easier for high school educated people to get a better job. Focus the high school curriculum more, teach high schoolers skills and trades that can get them a job, and leave college for more education intensive careers. It's sad that you need a college degree for data entry or call center...
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01-20-2010, 07:27 PM #8
Too be honest I'm not sure more are graduating but rather just going and dropping out.
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01-20-2010, 10:11 PM #9
College is a business. I know dozens of waitresses and other service workers with a Bachelors or Masters degree. They owe $50,000+ in student loans and make $2.50 an hour plus tips. There are so many useless degrees out there and school costs go up so much each year. We should be steering our kids to vocational tech schools for their high school years and less towards college.
How in the word does getting a 4-year degree in women studies, Afro-American studies, Philosophy, Art History, Latin or so many other degrees that fail to prepare our youth for the real world? There are so many useless degrees!
Here are a few funny ones.
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01-20-2010, 11:15 PM #10
For me personally (as someone who did not finish college) I have no problem with anyone going to school. If we could get a 100 percent graduation rate for all high school seniors I would be for it. Fact of the matter is, even if the government took this over the people who do not want to go to college still will not go to college. And for the argument of college being watered down and the college degree being the norm i completely disagree. The field I work in is dominated by people with a degree. Like i mentioned though i did not finish nor do i have plans to finish. With a good work history and being able to impress and express you know what you are doing and can be successful no matter what you education. On the flip side though if someone wants to better themselves (or at least make themselves think that) more power to them. In my opinion we should never tell someone who wants to go to school they cant get in. Im not talking about sending a C Average student to Harvard but at least give them the aid they need to get an associates degree at the local community college. Student loans is probably the only thing that i wouldnt have a problem with the government getting involved in as long as there is oversight (which i know is an oxymoron)
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Originally Posted by OnePimpTiger 
