Loan hysteria: The GOP's fear-mongering moves to student aid!

[Bravo Zulu]

Sunday, September 20, 2009
Pittsburgh Post-Gazette

Now that the House of Representatives has approved a bill expanding the federal college loan program, opponents have reverted to the same jingoistic slogans they're using in attempts to derail reforming the nation's health-care system.

After H.R. 3221 passed on a 253-171 vote Thursday, Rep. Tom Price, a Georgia Republican, called the move "a so-called public option that will lead to a government takeover." Hold on.

The government can't "take over" the guaranteed student loan industry because the program is and always has been a government program, established and funded by the federal government. To suggest otherwise is nothing more than an attempt to confuse citizens for political purposes.

Read more: http://www.post-gazette.com/pg/09263/999140-192.stm?cmpid=newspanel6#ixzz0RcOmBbL0

[Eric J in MN]

1. I hope "Rep. Tom Price, a Georgia Republican" is right...

...and that this leads to more types of consumer-loans directly from the government.

Then the next time the banks want to be bailed out, the argument that we need to bail them out so that they will make loans will be weaker.

(I'm not saying I want a "goverment takeover" of banking, just an option.)

[Historic NY]

2. Ignorant people believe everything.

[jwirr]

3. As usual these people are crazy. Student loans are the soundest

business move America can make. Not only does it prepare young people for work and help the unemployed change careers but it is one of the few programs that actually gets regular payments for the loans and taxes when the student becomes a worker. We are also going to need people to replace the baby boomers when they are retired.

[dmr]

4. And in the end it makes us a stronger nation to have educated citizens

Having a college aged son, I'm thrilled this passed.

As a citizen, I'm thrilled the profiteering middle man is being removed from the process. I forget the amount that will be saved, but I do know it's a lot of money.

Now, isn't this more fiscally sound? How can anyone argue with that?

[Libertas1776]

5. Well that pretty much explains

there anger, doesn't it? Sure it makes for fiscal soundness, but we can't have more and more young citizens getting a librul edumaction now can we? :sarcasm: An uneducated populous is the GOP's base.

[Bravo Zulu]

7. And in the end it makes us a stronger nation to have educated citizens

Why does the GOP hate America?

[abumbyanyothername]

6. I am ambivalent

I like the idea of the government directly doing something relatively simple to do, like loaning money and collecting from regular payers. I assume that the business of collecting defaulted accounts will be farmed out to specialists like it always has been.

I dislike the idea that students are being saddled with debt at the onset of their working life. This is a key element in the capitalist control system.