President Obama signs health care ‘fixes,’ student aid bil

[cal04]

Source: MSNBC

Measure would cut banks out of student loan business, costing them billions ate and then in the House again. Members of the House passed that reconciliation bill late Thursday to clear the way for final passage.

President Barack Obama has signed a law that finalizes his health care overhaul and makes the government the issuer of all federal college loans.

The president completed the measure at Northern Virginia Community College, where he emphasized new help for college students.

The legislation was the second of two steps needed for the Democratic-led House and Senate to approve a health care package affecting virtually all Americans.




http://news.yahoo.com/s/ap/20100330/ap_on_bi_ge/us_obama_student_loans

Read more: http://www.msnbc.msn.com/id/36097649/ns/business-us_business/

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someone in the crowd yelled out thank you

[Scurrilous]

1. K & R

:thumbsup:

[xchrom]

2. Recommend

[KansDem]

3. As someone who will be paying his student loan off until he's 70..

I say, "Thank you, Mr. President!" Education is a national security issue and shouldn't be left in the hands of private concerns.

[Sadie5]

4. Will this include

those who already have private loans and are struggling to pay them off in probably a zillion years? Wonder id the government will buy out the private loans.

[Davis_X_Machina]

5. You could at one point consolidate federal and private loans...

...under the federal umbrella, and then qualify for income-based repayment on the combined debt. Don't know if that can still be done.

[Mark D.]

6. If Not Mistaken

This bill may do that or pave the way for it. I sure hope so. It's not surprising it took a Democrat to put this through. Even though it is 'conservative' in saving money for the government. This is where it gets fuzzy. Conservative vs. anti-govt-anything. Clinton had the same issue in the 90s. His federalization of loan programs was met with GOP opposition, even though it helped more for less federal money. The monster in their heart is exposed, it's not about conservatism after all. The fact is, more going to college on their own dime means less enlistment. The higher folks IQ ends up at, the more likely they'll vote left of center. It also explains the propping of of Palins everywhere to say, see - you don't have to be smart!

[notadmblnd]

7. This is good. The only thing privatizing student loads did- was to get our kids in debt

up to their eyeballs before they even got out of the gate.

[DatManFromNawlins]

8. I was delinquent on student loans after Katrina

Fortunately, it was a small amount. Anyway, because it took me so long to find a job, I defaulted on the loan. When I became employed once again, I saved up enough to pay the loan back. But if I paid it back in one lump sum, the delinquency would remain on my credit report. Instead, if I paid a certain amount over a number of months, then after 9 months the loan would be taken out of collections (as a rehabilitation) and sold to a private lender, and the default stricken from the report.

WTF?

By the time I got finished with this process, the balance of the loan was 1300 bucks. I then had to set up payment terms with the new creditor, which I paid for 3 months, then promptly wrote a check for the remainder of the balance.

Screw that nonsense.