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Thread: Warren’s proposal: Offer college students the same interest rates as banks

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    Warren’s proposal: Offer college students the same interest rates as banks

    Sen. Elizabeth Warren (D-MA) introduced a bill on Wednesday that would give college students the same interest rates on their federal student loans as banks do when borrowing from the Federal Reserve.

    “If the Federal Reserve can float trillions of dollars to large financial institutions at low interest rates to grow the economy, surely they can float the Department of Education the money to fund our students, keep us competitive, and grow our middle class,” Warren said.
    According to The Hill, the Students Loan Fairness Act would call for the Fed to “float the money” to the department for one year, giving Congress enough time to enact a long-term agreement on student loan rates.

    “Right now, a big bank can get a loan through the Federal Reserve discount window at a rate of about .75 percent,” Warren said. “But this summer a student who is trying to get a loan to go to college will pay almost 7 percent. In other words, the federal government is going to charge students interest rates that are nine times higher than the rates for the biggest banks–the same banks that destroyed millions of jobs and nearly broke this economy. That isn’t right.”


    Read more and video @:
    Warren’s proposal: Offer college students the same interest rates as banks | The Raw Story


    Will any other congress man or woman please follow Senator Warren with common sense, morality, and here understanding of fairness? I hope so but i doubt anyone else comes forward.
    I love this woman!


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    Re: Warren’s proposal: Offer college students the same interest rates as banks

    Quote Originally Posted by TheDemSocialist View Post
    Read more and video @: [/FONT][/COLOR]Warren’s proposal: Offer college students the same interest rates as banks | The Raw Story

    Will any other congress man or woman please follow Senator Warren with common sense, morality, and here understanding of fairness? I hope so but i doubt anyone else comes forward.
    I love this woman!
    While I don't think it's right to charge them the same rate as the discount window, I do think that access to the window ought to mean that student loans should have lower interest rates than 7% in this particular interest-rate environment. There should be some sort of formula for determining those rates depending on the rate of inflation with various other indices thrown into the pot. I think the rates ought to be adjustable every three years depending on that index.
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    Re: Warren’s proposal: Offer college students the same interest rates as banks

    By god I love Elizabeth Warren. While I can agree with Maggie in a sense that rates could be adjusted based on other factors, it's actually nice to have someone in congress that campaigned on ideas and is actually sticking to it..... unlike some people...

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    Re: Warren’s proposal: Offer college students the same interest rates as banks

    Quote Originally Posted by Sensesfailed View Post
    By god I love Elizabeth Warren. While I can agree with Maggie in a sense that rates could be adjusted based on other factors, it's actually nice to have someone in congress that campaigned on ideas and is actually sticking to it..... unlike some people...
    Correction needed *most people*.
    Either I'm right or you're wrong.

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    Re: Warren’s proposal: Offer college students the same interest rates as banks

    Quote Originally Posted by Sensesfailed View Post
    By god I love Elizabeth Warren. While I can agree with Maggie in a sense that rates could be adjusted based on other factors, it's actually nice to have someone in congress that campaigned on ideas and is actually sticking to it..... unlike some people...
    Let me add, "it's actually nice to have someone in the senate not bought out by industry, and is actually trying to get things done for her constituents." She's such a breath of fresh air, I feel like I'm on a mountain top in Switzerland eating a York Peppermint Patty.
    Last edited by Middleground; 05-08-13 at 09:27 PM.
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    Re: Warren’s proposal: Offer college students the same interest rates as banks

    Quote Originally Posted by Sensesfailed View Post
    By god I love Elizabeth Warren. While I can agree with Maggie in a sense that rates could be adjusted based on other factors, it's actually nice to have someone in congress that campaigned on ideas and is actually sticking to it..... unlike some people...
    Same here. Warren gets it. She knows how to frame an issue. And that's 90% of winning a political battle. That's why the rightwingers hate her so much. She is the future of progressive Democrats in this country.

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    Re: Warren’s proposal: Offer college students the same interest rates as banks

    Quote Originally Posted by head of joaquin View Post
    Same here. Warren gets it. She knows how to frame an issue. And that's 90% of winning a political battle. That's why the rightwingers hate her so much. She is the future of progressive Democrats in this country.
    Elizabeth warren collectivist..........enemy of republican government

    Elizabeth Warren's "You Didn't Build That Speech" as made famous by Obama [HD] - YouTube

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    Re: Warren’s proposal: Offer college students the same interest rates as banks

    I generally hate Eliabeth Warren's policies, but this one I can live with. 6.8 and 7.9% are far too high. I'd be fine with keeping it at the same level of a car or house (between 3-5%). Although, the loans are federal and the feds set the rates. They actually went up under Obama.
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    Re: Warren’s proposal: Offer college students the same interest rates as banks

    Quote Originally Posted by ernst barkmann View Post
    Elizabeth warren collectivist..........enemy of republican government

    Elizabeth Warren's "You Didn't Build That Speech" as made famous by Obama [HD] - YouTube
    Wow, you called her a "collectivist". That's sassy!

    I love how the tea party pretends their bizarre labels constitute arguments.

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    Re: Warren’s proposal: Offer college students the same interest rates as banks

    Quote Originally Posted by head of joaquin View Post
    Wow, you called her a "collectivist". That's sassy!

    I love how the tea party pretends their bizarre labels constitute arguments.
    its very easy, when you say the community has claim to another persons property..your a collectivist.

    when you believe rights come from the group, and there are no individuals...your a collectivist..her and obama

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