GOP: Let’s Pay for Low Student-Loan Rates with ObamaCare Slush Fund
President Obama’s student-loan tour this week — jetting to North Carolina, Colorado, and Iowa — was a carefully scripted piece of political theater intended to hit on the youth vote, the economy, and education in one fell swoop while wrapping campaigning in an official-business package.
In North Carolina, he hit a conveniently placed Late Night with Jimmy Fallon set to make a few quips then talk about extending lower student-loan interest rates. In Boulder, he bought pizza at a beer dive and talked about not “pricing the middle class out of a college education.”
“We paid more for our student loans than we paid for our mortgage each month when we first bought our small condo in Chicago,” Obama told the University of Colorado crowd Tuesday night. “And we were lucky to land good jobs with a steady income, but we only finished paying off our student loans about eight years ago. Think about that.”
In Iowa, he sat down for a pooled press roundtable with five students — their extensive bios released by the White House in advance — who are receiving Stafford federal student loans.
While Obama may have been face to face with students, the intention was a face-off with Congress that would have been a nice jump-start to his summer campaigning. In 2007, Congress passed the College Cost Reduction and Access Act to lower interest rates on federal student loans from 6.8 percent to 3.4 percent, cuts that expire July 1.
It was perfect timing for Obama to go on the education stump while calling on Congress to pass an extension, for which Republican and Democratic bills had been lingering on the Hill.
But the second act belonged to congressional Republicans.
This afternoon, House Speaker John Boehner (R-Ohio) announced that the lower chamber will vote this Friday on a one-year extension — paid for by killing an ObamaCare slush fund.
“You know, this week the president’s traveling the country on the taxpayers’ dime, campaigning and trying to invent a fight where there isn’t one, and never has been one on this issue of student loans,” Boehner said at a press conference. “We can and will fix the problem without a bunch of campaign-style theatrics.”
Meeting Obama’s tale this week of how long it took to pay off his student loans, Boehner said it took him seven years to work his way through college, “working every job I could get my hands on.”
“And what Washington shouldn’t be doing is exploiting the challenges that young Americans face for political gain,” the speaker said. “And it shouldn’t be sticking small businesses with a health care law that’s…making it more difficult for them to hire workers.
“Let’s fix the problems for young Americans, and leave the campaign theatrics for the fall.”
In the upper chamber, 14 Republican senators including Minority Leader Mitch McConnell (R-Ky.) today put forth the Student Loan Interest Rate Reduction Act, which also extends the 3.4 percent rate for a year paid for with money from the health care law.
That’s friggin’ genius. Spread the word! Mitt! Shout it from the rooftops!
Agreed – genius.
I have a better idea: pay for the low rates by taking away from the Bush tax cuts, even though they’re going to end anyway. Genius!
It is a good plan but the reason it’s unlikely to pass is that Obama and the Democrats planned to use that money to buy votes before the election.
Romney did a pretty clever thing a few days ago. He called on Congress to pass the bill keeping the rates low because Obama has done such a poor job with the economy, young people are having a hard time finding a job.
Then pass the bill in the House and blame the Democrats when it doesn’t become law.
As a recent graduate I can tell you that in spite of the tough job market (not for me), college students still won’t vote Republican. Not ever. In fact, I don’t recall ever meeting one Republican on my campus (UCSD) during my time there. The fact is, identifying oneself as a Republican is akin to admitting you have herpes.
Well you know what numbnuts, I hope that all the other dingbats going to college now, will be similarly happy when THEY have to pay off the debt we are incurring because of idiots like you. Just think nimrod, YOU will be paying for my retirement, the debt, and the follow student loans as well as the inevitable inflation due to our spending. And you know what, you will never see Medicare, SS, and will be working well into your seventh decade with little hope of retiring.
Furthermore, you loon, the rate decrease does not affect the students who have loans NOW.
And please, how does it feel to be the most vile, hated and overlooked white boy in a party which is increasingly hostile to white boys like yourself? What pray tell is the big selling point on being a lefty loon? Just curious.
” the rate decrease does not affect the students who have loans NOW.”
The rate isn’t going to go up, you can bet on it, and it won’t be paid for with the political gimmickry proposed by Boner. As for the white boy stuff, who said anything about white? Over half of the UCSD campus is Asian (intellectually gifted). I could be either. lol
Finally Cynical, you let the cat out of the bag. I have often read your comments and wondered how much actual world experience you have given the silly and naive nature of most of your comments. Now we know. You’re a young punk recently out of some no-name southern CA college and still very wet behind the ears. I suggest that you take a few years off from spouting off and go serve in the military in some middle-eastern hellhole (as I have done) and then work your way thru a university that has a worldwide reputation (as I have done) and then possibly you will develop an appreciation for the magnificence of America and what we have sacrificed for this world and come to appreciate the fact that it is currently being destroyed by Marxists loons and useful idiots that you seem to be so impressed with. Grow up kid!
“no-name southern CA college”
UCSD is actually one of the top ten universities in the nation and among the top 5 in terms of applications. Not that you would know anything about college being in Alabama or wherever it is people who vote against their own interest live. You embarrass yourself gramps …
The fact is, identifying oneself as a Republican is akin to admitting you have herpes.
And in the working world of adults, identify yourself as a Democrat is admitting you are incapable of rational thought as you prove here repeatedly.
Actually, I live in the same town where Mr. Romney is building the house he will be retiring to in November, complete with a car elevator. It is represented by Democrats at every level, and the few Republicans that are in positions of power are what most on this site would label as a RINO. All of my neighbors are Democrats, and they are hardly what one would call, as you say, ” incapable of rational thought.” They are all adults and very successful, judging by the houses they live in and the cars they drive. Sounds like you’re just jealous. Try again.
Nothing has changed in the last forty years Cynical. The switch to republican happens after you leave the liberal womb, get your first job using your newly aquired collegiate skills, file your first tax return and realize that those who work harder than others EARN a little more. In the end life is what you make it.
That old canard. See above.
How about if we get the federal government OUT of the student loan business?
I have ZERO sympathy for students who failed to research the job prospects of their desired majors and are now unable to find work. When you go to school and major in African American studies, Women’s Studies, Literature, the History of the Rennaisance, et al and can’t find a job you only have yourself to blame.
Schools should be required to post detailed reports about all majors they offer including the number of availabke positions, average salaries, five and ten year trends, and other information that will help parents and students make a good decision about college.
For those students smart enough to have majored in engineering, math, science or even practical fields such as logistics there are plenty of jobs available.
Another way to discourage students from taking worthless majors is to charge them higher interest rates on their loans. If they want to waste their time and money, make them pay for it.
What is hilarious is that a growing number of schools are charging more per credit hour for STEM students. Its funny because STEM students already have to pay more due to higher credit requirements and associated costs in lab fees.
But now, some schools charge more for general education requirement courses (like English 101) if a student is on a certain academic path then if they are just there to get a useless degree.
Its brilliant because the US already doesn’t produce enough engineers, scientists, and doctors. Now schools are pretty much admitting they want to churn out as making crappy students as possible (a BFA is a heck of a lot cheaper to provide classes for than a BS) without any concern for the needs of the nation.
But we got to throw more money into the system so idiot kids can churn out Masters in Puppetry.
Bill Allows IRS To Revoke Second Amendment Rights By Stealth Posted on: April 25th, 2012
http://patriotoutdoornews.com/984/bill-allows-irs-to-revoke-second-amendment-rights-by-stealth
Better read that again Washington76 and follow the link to read more. Seems they have posted a retraction and apology about that.
April 25, 2012 Obama EPA Official on American Energy Companies: “Crucify them!”
http://www.youtube.com/watch?v=ze3GB_b7Nuo&fe…
re Cynical Wonder
From Wikipedia: “Political theorist Herbert Marcuse joined the faculty in 1965. A champion of the New Left, he reportedly was the first protestor to occupy the administration building in a demonstration organized by his student, Angela Davis.”
I had not been aware of the distinguished tradition of the University of California, San Diego. Although, apparently, in fact, it is a moderately highly rated university.
The best part of graduating from Harvard is never worrying about college rankings.
PB
I suppose that depends of who is doing the ranking. Harvard is overrated.
http://www.forbes.com/sites/jamesmarshallcrotty/2011/08/30/uc-san-diego-voted-best-college-in-america-yale-princeton-not-even-in-top-30/
Re: Herbert Marcuse and Angela Davis: yes, I have big shoes to fill
…or, as the Stanford students taunt the Berkeley students, “We pay your tuition!”
RE: PlatoBunker
“The best part of graduating from Harvard is never worrying about college rankings.”
Yes. And having a football fight song which exhorts in faux Latin fashion:
“Don’t let the bastards wear you down!”
As Obama calmly gets away with campaigning on the taxpayers dime, and not one bozo GOP rep says anything about it. Boehner could have easily said, “If the POTUS would stop using AF1 on his campaign trail, we could easily service any debt to the tune of 10 billion.” Something is bad wrong with this establishment crowd … the news headlines should read, for example, “Obama spends untold millions on his student loan campaign stops, all paid by taxpayers dollars?”
But no, we’re hearing a totally different narrative from Boehner …. something stinks. Wow, they had a brain-fart on how to solve an easily solvable problem …
this is what it has become; a quiet acceptance of ultra low performance standards by congress, and an executive branch full of radical morons jetting around trying to be their own gods. Does everyone have to quit working and march on the Capitol before anything gets done anymore? Unity, we need unity … we’re being encouraged to do the opposite and we’re passively accepting it.
Why doesn’t Obama go after Big Education and make them lower the ridiculously high tuition rates and fees they charge. How about a tax increase on “fat cat” universities like Stanford, Harvard and UC San Diego?
Never mind, the question was rhetorical.
““Government subsidized loans have helped fuel skyrocketing college tuition costs – much like Fannie Mae, Freddie Mac, and the housing bubble – leading many young people who now cannot find jobs to borrow even more money to complete their education,” the RSC said.”
This. THIS! People keep looking at ways government (taxpayers) should help pay for school costs instead of looking at why costs have gotten so high in the first place.
Guaranteed loans, grants, other subsidies… if you want to help kids pay for college, stop helping them pay for college and causing tuition inflation.
Uh, no. Compared to most my loan burden is light. I consolidated with the fed and have a fixed 3.4% rate. If it is a choice between paying 3.4% or 6.8% I’ll take the 3.4%. Wouldn’t you? And it is a good thing the feds removed the blood sucking middle men out of the student loan business. They have no business being there in the first place. All of the loans were backed by the feds anyway. Their only reason for being was to turn a profit by skimming off students. Let the blood suckers skim somewhere else.
Why do you even have a student loan? Basically students are not working people now are they? Did you ever consider working for your education past grade school?o you have a student loan and it is one of the most defaulted loans there is and as an unsecured loan it is much like a credit card loan with a high interest rate, now if you do not pay your “student loan” who will make it good? Well of course those that go to work everyday and pay into the tax system so you can go about your merry way taking all you can from us that do and gibing to you who don’t!
What major accomplishments do you have so far in life other than taking taxpayers money? Will you cure cancer, get us to Mars, establish a colony on the moon to harvest the resources it has and get them back to us? Can you figure out how to solve international difficulties and bring “Peace and Harmony” to the world as a whole…just what is your expertise I might ask, or is it irritating those older and much wiser than you on this board?
You are still young and I will forgive the lack of worldly experience but not your ignorance…all you know is what you have been indoctrinated in there is no hope for you at this point but maybe after you have to be responsible for a family of 4 or 5 then we will see a change…good luck!
They let you have access to the internet at the nursing home? Cool!
I understand that under Obamacare they handle the student loans, the entities involved, our Federal government via IRS will borrow from the Treasury at 2.9% and charge students with a 6.9% interest on student loans. The extra percentage rate stolen from students will be incorporated into helping pay for Obamacare.
This is outrageous, the degrees’ most of the students’ pay for are worthless degrees’ at best in this horrible financial climate Progressives’ have foisted and coerced into our society.
“the degrees most of the students’ pay for are worthless degrees”
Well, considering the fact that the average American can’t make it past long division, you may have a point. And we wonder why Asians, to their credit, are excelling in the sciences? Wonder no more. It is cultural. The Asian culture has, for thousands of years, associated success with advanced learning. To get a bad grade it to shame your family, so it doesn’t happen. There are, of course, exceptions but you get my point.
No learning is worthless. The fact that you did the work to get the degree is important in itself. I have plenty of friends who ended up in jobs that had nothing to do with their major. Indeed, one friend was an Asian Art history major and now works for the Chinese Consulate.
Since Senator Obama was on the conference comittee that reconsiled the bill, why wasn’t it important then???
If Senator Obama felt leaving the rate at 3.4% was important, why did he not vote on it either when the House passed the bill or after it came out of comittee???
My #2 daughter graduated with a degree in criminal justice from U of Nevada and is now working at a law firm. She has no student loan debt. My son is in his senior year at same university. He will graduate in December with no student loan debt.
Both of them received academic scholarships because they worked and studied hard in high school. They both held jobs throughout their college years and paid for much of their own remaining tuition – the rest I loaned them at 0% and they paid me back in monthly installments. We couldn’t afford Stanford so they didn’t go there. They went to a good school with solid credentials and will both be going on to graduate programs next year, also on their own dimes.
My #1 daughter didn’t go to college. She has worked her way up to a position as national director of a telecom company and makes a higher annual income than all of us.
School Terrors Replace al-Qaeda Terrors
Now that “The war on terror is over,” according to a senior State Department Mideast expert, maybe the administration can now focus on winning the war against America’s school kids.
President Barack Hussein Obama never did acknowledge that the struggle against Islamic terrorists ever existed but it’s good to know it’s over and done with. Let’s just thank God he singlehandedly tracked down and executed Usama bin Laden!
Since 2012 is an election year and the National Education Association and the vast majority of America’s teachers sit firmly in his pocket, Obama can’t very well acknowledge that our public education system is in virtual shambles largely due to them, that battle for the hearts, minds, and souls of students may be more of a challenge than whipping al-Qaeda.
Just as with our victorious war on terrorism, the assault on children is taking place on various levels, from violence in schools, to administrators setting unseemly examples, to indoctrination into perversion.
Above all else, parents like to think their kids will be safe and protected when they pack them off to school every morning. Unfortunately, that’s far from the reality of what cherubs and teens encounter daily.
CBSNews.com, not exactly a bastion of conservative alarmism, featured an article on violence in public schools as jointly reported by the Departments of Education and Justice. (The article wasn’t considered sufficiently newsworthy to make televised news.)
The DoE and DoJ estimate that during the 2009-2010 school year some 1,183,700 violent crimes were committed in 73.8% of schools, horrendous figures in themselves although the fact that only a mere 25% or 303,900 of those crimes were reported to the police is even more stupefying.
And the violence is far from confined to minor student altercations.
The government estimates incorporate “rape, sexual battery other than rape, physical attack or fight with or without a weapon, threat of physical attack with or without a weapon, and robbery with or without a weapon.”
I wouldn’t presume to offer causes for rampant school violence but, as for reporting it, I can say from personal experience that failure is mostly attributable to administrators’ pusillanimity and their fear of having parents discover their lack of control and lack of discipline.
A male principal and a female assistant at the Scholars Academy in Quartzsite, Arizona demonstrated both personal lack of control and discipline at the same time they demonstrated another serious issue confronting America’s students: a lack of decorous professionalism on the part of the people who once were considered role models.
Principal Steve McClenning and assistant Billie Madewell were caught on film at Scholars passionately groping and kissing during school hours in a school office. Both McClenning and Madewell are married, though not to one another; he resigned, she was fired, and the town of Quartzsite was devastated.
Sadly, that public exhibition wasn’t nearly as disgraceful or unprofessional as much more common occurrences: teachers, male and female, seducing kids on school grounds, in parked cars, and in their homes, many of which incidents have been documented on this blog. . .
(Read more at http://www.genelalor.com/blog1/?p=22806.)