travesty
03-13-2010, 12:31 PM
The Student Loan legislation (http://online.wsj.com/article/SB10001424052748703791704575114020658755684.html?m od=googlenews_wsj)that is being attached to the healthcare bill typifies why I get so frustrated with Democrats.
Essentially they plan to take over complete control of the federally insured student loan process and cut out the lending bank's role and thus fees. Sounds good right? Cut out the middle man, reduce costs, reduce fees? Well not really because the Democrats are at the helm.
1) The cost to student borrowers will remain the same....lame.
2) The lending banks will lose revenue that ultimately gets loaned out to others in the community so this just helps tighten an already difficult credit situation for America....lame.
3) The government will keep the "saved" money and use it for whatever it deems "best" and we all know how that goes.....lame.
So in the end, the student borrower sees no benefit (reduced fees), the community sees less credit available and potentially lost jobs but the government sees more revenue at it's disposal. This all just another federal government power grab by the Dems under the guise of "helping people" by deciding what is best for them. It makes me want to puke.
Essentially they plan to take over complete control of the federally insured student loan process and cut out the lending bank's role and thus fees. Sounds good right? Cut out the middle man, reduce costs, reduce fees? Well not really because the Democrats are at the helm.
1) The cost to student borrowers will remain the same....lame.
2) The lending banks will lose revenue that ultimately gets loaned out to others in the community so this just helps tighten an already difficult credit situation for America....lame.
3) The government will keep the "saved" money and use it for whatever it deems "best" and we all know how that goes.....lame.
So in the end, the student borrower sees no benefit (reduced fees), the community sees less credit available and potentially lost jobs but the government sees more revenue at it's disposal. This all just another federal government power grab by the Dems under the guise of "helping people" by deciding what is best for them. It makes me want to puke.