Let's help Sen. Warren get her Student Loan rate bill passed! Call & email & fax your congressmen

[peacebird]

http://www.warren.senate.gov/?p=press_release&id=81

Student loans from the govt should be given at the same rate the govt loans to banks, hopefully this could apply retroactively to existing loans for folks who have already graduated as well

[MannyGoldstein]

1. How's Hillary going to counter this in the primaries?

Point to the flag-burning amendment she sponsored?

[Purplehazed]

2. I graduated from college

well before skyrocketing tuition and easy loans, $5k in debt (instate/state university). I can't fathom graduating from college today with poor job prospects and debt that is more than my mortgage. If I was headed off to college now, I might think that this bill was good for me. Lower interest rates, lower payments for a student loan would make my future a little less ominous. Ending big banks profiteering and predatory lending on student loans is noble.

I see 2 scenarios resulting from this legislation. First, the student loans keep flowing. Low interest rates allows increased borrowing. Tuition rates continue to increase at a rate much greater than inflation and the future of this country in greater debt than today. Second, and I think more likely, the availability of student loans will decrease. If banks are loaning at exactly the same rate as they are borrowing, they lose due to the costs of originating, maintaining and collecting. Why would a "for profit" bank engage in that business?

Superficially, I would like to support Sen. Warren's proposal. I'm a Warren fan. I don't think the consequences/details of this proposal have been worked out.

[Bake]

3. God bless Sen. Warren, but the banksters will never let it happen.

They own us. They know it, and we know it.

Bake

[Scurrilous]

4. Kick

[smirkymonkey]

5. K&R

And I have signed the petition. Voting for Senator Warren was one of the wisest things I have ever done in my life.