Student Loans

[slobin3d]

Some of you may not of noticed but part of the health care bill was a complete takeover of private student loans. My wife works for one of the largest student loan companies, its a nonprofit unlike Sally May. A few months back the Govt mandated that student loan companies would no longer be able to sell loans across state lines, so her company and others that held loans all across the country (free market) were now restricted to selling only in the sate in which their building is located in. Now with the passage of the Healthcare bill student loans are 100% federally funded no more picking your lender and shopping for the best rates.

I'm wondering whats the Legal justification for the take over, With the auto industry and big banks they were financially insolvent and without govt support they would have folded (they should have let them) But with student loans, the companies holding the loans were in no such financial distress, they didn't have massive defaults (most student loan defaults are federally held loans) The loan companies interest rates were more then fair, In fact student loans although long are probably the easiest lenders you'll ever deal with, they have tons of deferments and options to get you paid off without defaulting, Unlike CC's, mortgages, or bank loans.

I see no logical reasoning for the takeover other then control, If a school is 100% funded by the govt, the govt can and most likely will set the curriculum for the colleges they now control, just like the govt tells states what laws they have to pass in order to maintain their federal funding. (IE drinking age and seat belt laws just off the top of my head) Not like that will stop the feds from stepping into states rights anyway. Here in MT theres a big federal lawsuit with the state because the state says that the federal govt has no jurisdiction to regulate guns made and sold in MT. Because they don't fall under the interstate commerce laws (the law that the Fed's fall back on when ever they want their way in state law) MT is being attacked by our own govt because we won't bow to their will.

Me personally, I'm rather irritated in the govt imposing its will on private business and forcing industry to pack up and go home for no other reason then because they said so. The Federal Government just took a 100% sound national industry and told they they're out of business for no other reason then "we said so"..........thats not a single bad company or business but an entire national business system worth hundreds of Billions if not trillions of dollars.



Rant not off, but temporarily subdued......

[dezfan]

Just another form of control. If your dependant upon the government for the money you need to get into or continue your education, who are you going to "vote" for?

Cradle to grave, womb to tomb!

I guess when Barry said he was going to focus like a laser on jobs, he meant that he was going to do whatever he could to eliminate as many private sector jobs as possible.

[slobin3d]

Why was this massive takeover buried in health care? other then doctors need to go to school where's the connection?


The only reason my wife still has a job is that the govt hasn't yet taken over the existing loans that have already been handed out, but once those loans are repaid Her industry will no longer exist and she and the 250 people she works with (average salary is 35k) and the thousands around the country will be permanently unemployed. How that helps the economy recover is a mystery to me.

[dezfan]

VOTE their sorry asses out!

JOIN THE PARTY OF NO..............NO MORE that is!

Remember in November!

[JasonInAugusta]

Originally Posted by slobin3d

I'm wondering whats the Legal justification for the take over

I see no logical reasoning for the takeover other then control, If a school is 100% funded by the govt, the govt can and most likely will set the curriculum for the colleges they now control, just like the govt tells states what laws they have to pass in order to maintain their federal funding. (IE drinking age and seat belt laws just off the top of my head) Not like that will stop the feds from stepping into states rights anyway. Here in MT theres a big federal lawsuit with the state because the state says that the federal govt has no jurisdiction to regulate guns made and sold in MT. Because they don't fall under the interstate commerce laws (the law that the Fed's fall back on when ever they want their way in state law) MT is being attacked by our own govt because we won't bow to their will.

Me personally, I'm rather irritated in the govt imposing its will on private business and forcing industry to pack up and go home for no other reason then because they said so. The Federal Government just took a 100% sound national industry and told they they're out of business for no other reason then "we said so"..........thats not a single bad company or business but an entire national business system worth hundreds of Billions if not trillions of dollars.



Rant not off, but temporarily subdued......

1. Race percentages in the schools: Even elementary schools try to maintain certain percentages of various races in their school so they can get funding.

2. Control - self-explanatory.


I said all along that these bailouts were nothing more than power grabs.

[JasonInAugusta]

Originally Posted by slobin3d

Why was this massive takeover buried in health care? other then doctors need to go to school where's the connection?


The only reason my wife still has a job is that the govt hasn't yet taken over the existing loans that have already been handed out, but once those loans are repaid Her industry will no longer exist and she and the 250 people she works with (average salary is 35k) and the thousands around the country will be permanently unemployed. How that helps the economy recover is a mystery to me.

Take a look at what the gov't has gotten their hands on in less than two years...

Banking
Housing (Fannie/Freddie)
Insurance
Auto manufacturers (Ford excluded)
Health Care
Student Loans


So...what's next? What's the next thing they'll want?

[slobin3d]

Originally Posted by JasonInAugusta

Take a look at what the gov't has gotten their hands on in less than two years...

Banking
Housing (Fannie/Freddie)
Insurance
Auto manufacturers (Ford excluded)
Health Care
Student Loans


So...what's next? What's the next thing they'll want?

well with the offshore oil and Nuclear plant the White house has been talking about I'd imaging that the power industry is next

[robbio4422]

Originally Posted by dezfan

VOTE their sorry asses out!

JOIN THE PARTY OF NO..............NO MORE that is!

Remember in November!

once they are voted out... another will gladly take their place. then another vicious cycle starts again... we "the people" have no voice anymore. the government has a very large mute button with an endless amount of batteries

[dezfan]

Originally Posted by slobin3d

well with the offshore oil and Nuclear plant the White house has been talking about I'd imaging that the power industry is next

Yeah, that way they can start to quadruple the cost of our power that is generated by wind turbines, solar cells, and pixie dust.

Of course if your a minority or you are income challenged (PC for poor) Barry will cover it for ya.

[dezfan]

Originally Posted by robbio4422

once they are voted out... another will gladly take their place. then another vicious cycle starts again... we "the people" have no voice anymore. the government has a very large mute button with an endless amount of batteries

TERM LIMITS NOW!

[robbio4422]

Originally Posted by dezfan

Yeah, that way they can start to quadruple the cost of our power that is generated by wind turbines, solar cells, and pixie dust.

then people will demand higher wages(ha) and then companies will raise prices of their products sky high to match... soon the all mighty dollar will be equivalent to the peso

[slobin3d]

Originally Posted by robbio4422

once they are voted out... another will gladly take their place. then another vicious cycle starts again... we "the people" have no voice anymore. the government has a very large mute button with an endless amount of batteries

I think (read Hope (not hope and change hope)) that with all the fresh voices that the tea parties have stirred up that we'll see some candidates that aren't special interest puppets, who are just as sick and tired of the DC BS, that will bring a honest representation of the will of the people to govt again and have the Balls to repeal all the crap thats been shoveled on us for years. Personally I'd love to see them 100% repeal all entitlements and make people responsible for their own livelihood. I don't remember seeing the right to guaranteed income once your reach 65 in the constitution, or If you can't/won't find a job we'll pay for you in there either.


I understand people fall and hard times and I'm not saying that we should throw people on the street, But you'd be surprised how giving people can be when they're not forced to be. That and when you don't have a freebie waiting for you you tend to be more responsible with what you have, you'll save for your retirement, you'll be more frugal to make sure you can eat and live, you'll respect what you have cause you earned it! But thats too much to ask of someone now isn't it?

[slobin3d]

Originally Posted by robbio4422

then people will demand higher wages(ha) and then companies will raise prices of their products sky high to match... soon the all mighty dollar will be equivalent to the peso

Kinda makes raising the minimum wage every couple years a little pointless doesn't it?

[dezfan]

Originally Posted by robbio4422

then people will demand higher wages(ha) and then companies will raise prices of their products sky high to match... soon the all mighty dollar will be equivalent to the peso

Yeah but think how cool you'll look in your $100,000.00 2018 Guvment Motorz Sun Blister GC 0 emissions solar powered micro transport as you drive to your $500,000.00 a year job as a Social Organizer that President Micheal Obama has designated that all citizens must serve in for 5 years after they graduate from collage to help pay off the government loan used to pay for school.

The future is bright.

[slobin3d]

From the Govt's own website. pretty telling. Wonder why they can't learn from the past?

Originally Posted by www.ustreas.gov

In October of 1929 the stock market crash marked the beginning of the Great Depression. As the economy shrank, government receipts also fell. In 1932, the Federal government collected only $1.9 billion, compared to $6.6 billion in 1920. In the face of rising budget deficits which reached $2.7 billion in 1931, Congress followed the prevailing economic wisdom at the time and passed the Tax Act of 1932 which dramatically increased tax rates once again. This was followed by another tax increase in 1936 that further improved the government's finances while further weakening the economy. By 1936 the lowest tax rate had reached 4 percent and the top rate was up to 79 percent. In 1939, Congress systematically codified the tax laws so that all subsequent tax legislation until 1954 amended this basic code. The combination of a shrunken economy and the repeated tax increases raised the Federal government's tax burden to 6.8 percent of GDP by 1940.

[robbio4422]

Originally Posted by dezfan

Yeah but think how cool you'll look in your $100,000.00 2018 Guvment Motorz Sun Blister GC 0 emissions solar powered micro transport as you drive to your $500,000.00 a year job as a Social Organizer that President Micheal Obama has designated that all citizens must serve in for 5 years after they graduate from collage to help pay off the government loan used to pay for school.

The future is bright.

that shit was funny right there... yet sooo true


and my mother wonders why i dont want to have children.

[dkf]

My question is, What else is burried within the "Healthcare Reform" bill? I tried to read some of it and its not as easy as it sounds. Refers you to different subsections all the time. There is no way the people who voted on it have read the entire bill themselves.

[JeremyH]

Originally Posted by dkf

I tried to read some of it and its not as easy as it sounds.

Exactly. Hell, the people who wrote it didnt even read it.

BTW, did anyone notice that now that his back was scratched, he's out:
http://politicalticker.blogs.cnn.com...-MkJb0e&hpt=T2

??

[binaryterror]

Originally Posted by JasonInAugusta

Failed dinosaur Auto manufacturers that needed to be let go

Fixed it for you.

[dezfan]

It's funny, I don't see much from the Liberal, lunatic, left, that was so vocal before and just after Barry was elected?

Hows that Hope and Change working out for you guys?