Comments for Plan to Change Student Lending Sets Up a Fight »
Posted By engineer 7 months, 4 weeks ago in Political NewsThe private student lending industry and its allies in Congress are maneuvering to thwart a plan by President Obama to end a subsidized loan program and redirect billions of dollars in bank profits to scholarships for needy students.
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engineer7 months, 4 weeks ago
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These predatory loans have caused many bankruptcies and pain from the obscene practices of the banking/lending industry. Now, with this new strategy, poorer students will be able to go to college who don't get full scholarships. We need better educated people in this country. Giving these grants will allow us to compete again with the rest of the civilized world which already have this program,
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dunkirk7 months, 4 weeks ago
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That industry makes over 50 billion in profit for a no risk venture. The loans are covered up to 97% by the fed. If Obamas plan is adopted the projections are for the govt to save 94 billion over 10 year AND allow students who couldn't afford it attend college. REPUBLICANS are again expected to oppose the bill.
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HOUSEMD7 months, 4 weeks ago
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this may be the only time in history that i will support obama. the student lending "industry" has been so corrupt that ANY change would be a help, HOWEVER< if this help is targeted, it will be another power grab by the obama octopus ragime.
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calitennflo7 months, 4 weeks ago
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Remember, student loans have to be repaid. And too, do not forget that interest will always be realized at least in the form of an inflationary dollar. Interest on credit cards, home loans, vehicle loans, etc. They leave it out...then you will see how far Oboma actually looks into the future of our students. Not just him, but everyone.
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