Elizabeth Warren calls for an end to govt profit on student loans

Mar 2012
57,873
39,432
New Hampshire
#1
Speaking at Suffolk University last weekend, Senator Elizabeth Warren blasted the federal govt for making profits on student loans.

"This exploding debt is crushing our young people,” Warren, a Democrat, said in her speech to attendees of a two-day student loan symposium. “These students didn’t go to the mall and run up a bunch of charges on credit cards. They worked hard to learn new skills that will benefit this country. . . . They deserve our support, not an extra tax for trying to get an education.”

For many in attendance Saturday, Warren’s presence was significant. To them, she is a long-awaited ally in the halls of power and the articulate public face of a reinvigorated effort to reduce ballooning college loan debt.

Last summer, Warren defied her party and voted against a compromise bill that lowered interest rates on new subsidized federal loans, saying it would allow interest rates to rise and leave the government holding profits earned on the backs of student borrowers.

Saturday, Warren again displayed her willingness to be a fly in the Democratic ointment, denouncing a provision in the White House’s proposed 2015 budget that would cap forgiveness of federal loans for college students who go on to work in the public sector."


Elizabeth Warren blasts government profits on student loans, quibbles with White House proposal in speech at Suffolk Law - Metro - The Boston Globe
 
Likes: 7 people
Jan 2011
12,143
5,214
east coast
#5
IMO, this debt is the biggest one we should be going after, something is very wrong in this Country when our children cannot get a higher education because of the outrageous costs, colleges are out of control, if they would stop the millions paid to coaches and millions paid for the best sports arenas, seems to me colleges are more geared to their sports programs than they are to making it possible to get an education, put some of those millions into helping with a lower tuition, maybe our kids could afford to go to college. My granddaughter chose her college, when she was accepted it was $32,000 a yr, that was a year ago, now she will enter her college of choice, and since last year it has gone up to $41,000, WHAT THE HELL!!!!!!!!!
 
Apr 2011
15,242
5,940
My mother's womb, of course.
#6
Speaking at Suffolk University last weekend, Senator Elizabeth Warren blasted the federal govt for making profits on student loans.

"This exploding debt is crushing our young people,” Warren, a Democrat, said in her speech to attendees of a two-day student loan symposium. “These students didn’t go to the mall and run up a bunch of charges on credit cards. They worked hard to learn new skills that will benefit this country. . . . They deserve our support, not an extra tax for trying to get an education.”

For many in attendance Saturday, Warren’s presence was significant. To them, she is a long-awaited ally in the halls of power and the articulate public face of a reinvigorated effort to reduce ballooning college loan debt.

Last summer, Warren defied her party and voted against a compromise bill that lowered interest rates on new subsidized federal loans, saying it would allow interest rates to rise and leave the government holding profits earned on the backs of student borrowers.

Saturday, Warren again displayed her willingness to be a fly in the Democratic ointment, denouncing a provision in the White House’s proposed 2015 budget that would cap forgiveness of federal loans for college students who go on to work in the public sector."


Elizabeth Warren blasts government profits on student loans, quibbles with White House proposal in speech at Suffolk Law - Metro - The Boston Globe
I like her a little better than Bernie Sanders.
 
May 2013
1,932
712
Not on this forum anymore
#7
These loans should have never been a profit center to begin with.
Student loans were designed as a quick fix 'free-market' solution, but the reality is that all student loan schemes are never sustainable (as only the upper class can afford the rising fees)*, things work best when people are let in based on grades rather than how many millions daddy can throw at the university administration. But I am not a fan of for-profit education, if it was up to me then the poor and people with disabilities wouldn't have to pay to go to university.

*Makes more sense to pay the teachers salaries and the running costs of the university through taxes, subsidies, and donations, not through tuition fees.
 
Likes: 1 person
May 2012
68,704
13,695
By the wall
#9
Well this is a huge issue with me simply because I am so far in debt, along with my wife, because of these loans.

It is refreshing to see someone being proactive for a change.

I cannot fault her for anything she is saying, I just hope its not campaign talk and that she makes this a centerpiece of her platform unlike what she currently has. I think she would be surprised by the amount of support she would end up getting.

Hell, I'd overlook a lot if someone was going to fix this loan problem and also the fucking universities, who realize that kids can get loans so jack up their fucking prices like having to buy a new edition textbook for 230 fucking dollars every semester when the only thing they fucking changed was the fucking forward in the fucking book.

Sorry, its a bit of an issue with me.

Hats of to the lady if she is serious though. She has my support.
 
Likes: 3 people
Mar 2012
57,873
39,432
New Hampshire
#10
Well this is a huge issue with me simply because I am so far in debt, along with my wife, because of these loans.

It is refreshing to see someone being proactive for a change.

I cannot fault her for anything she is saying, I just hope its not campaign talk and that she makes this a centerpiece of her platform unlike what she currently has. I think she would be surprised by the amount of support she would end up getting.

Hell, I'd overlook a lot if someone was going to fix this loan problem and also the fucking universities, who realize that kids can get loans so jack up their fucking prices like having to buy a new edition textbook for 230 fucking dollars every semester when the only thing they fucking changed was the fucking forward in the fucking book.

Sorry, its a bit of an issue with me.

Hats of to the lady if she is serious though. She has my support.
She has been making the rounds at several different colleges discussing this issue. I believe she honestly wants to fix this as she had spoken about this even before she was a senator when she was an economic contributor for CNBC. Her popularity is growing among college students. She also has an interesting book coming out and will be hitting the talk show circuit. My bet is she is definitely going to run. Shes a rock star in New England. Here is an interesting article.

Jill Lepore: Reading Elizabeth Warren : The New Yorker
 
Likes: 2 people

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