TEApublicans Kill Elizabeth Warren’s Student Loan Reform Bill

[MadMan1978]

http://aattp.org/teapublicans-kill-e...n-reform-bill/


Shows once again that the TEApublicans could care less for the people of this country!

[duane1969]

I guess it is nice to bash one side for not supporting it, but I would like to take a moment to point out the flaws in the bill. Liberals like to look at the bright side of their ideas without ever considering the repercussions and this bill is a prime example.

Yes, the bill freezes interest rates from increasing, which helps students. How does this impact everyone else associated with the loans?

- Banks no longer get fees for being the mediator between lenders and students. My guess is that in no time virtually all banks will cease being the mediator since there is nothing gained. This makes sense since nobody does anything for free anymore. Net result, students will have a harder time finding a mediator to get student loans making student loans in general, harder to get.

- Pell grants will increase. Grants are not re-payed, they are free money. Translation, more taxpayer dollars going out the door with no way to fund it. Leave it to the SPENDocrats to find yet another way to hand out more taxpayer dollars while not bothering to think of how to fund it. With Pell grants increasing by nearly $500 multiplied by approximately 18 million undergrads enrolled per year, in short order they managed to spend somewhere around $9 billion per year without a second thought.

Just looking at the silver lining is nice...it is also narrow-sighted.