View Poll Results: Are high student loan interest rates a form of tax on the middle class?

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Thread: Are high student loan interest rates a form of tax on the middle class?

  1. #161
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Geoist View Post
    Ah, so Department of Ed should be profiting more than $40 billion from student loans?

    The hypocrisy of conservatives makes me chuckle.

    no....the department of education SHOULDNT EXIST

    education should be a state matter

    and if you want a loan to go to school, then you go to a bank, a credit union, or your relatives

    giving out loans to people or businesses is not the role of the feds
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    Re: Are high student loan interest rates a form of tax on the middle class?

    6% is gouging?
    "I believe in a Spinoza's God who reveals himself in the harmony of all that exists, but not in a God who concerns himself with the fate and actions of human beings."

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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by longview View Post
    The way I understand it the $40 billion is used to administer the loans
    and provide funding for the Pell grants for low income students.
    And in the meantime saddle your young middle class with debt.

    That is one way to cripple a society.
    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Geoist View Post
    And in the meantime saddle your young middle class with debt.

    That is one way to cripple a society.
    It is a socialist dream, have those who can afford to pay, pay for those who cannot!

  5. #165
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by MildSteel View Post
    I was talking to one of my daughters today. She was saying that it is ridiculous that the interest rate on her car loan is only 3 percent while the interest rate on her student loan is more than double that. Such gouging is no more than a tax that is being imposed on the middle class. It is especially disgusting at a time when Republicans are proposing tax cuts that will benefit the wealthy.
    Oh, I don't think so. I am a big supporter of Kiva.org making hundreds of small $25 loans to people around the world. My money gets combined with others to fund projects that people want to have. I don't get any money from my loan but the institution making the loan charges a rather high %. Perhaps 25% or more. Some people think that this is wrong. But the borrowers want the money to make some money and without the interest the loan would not be made. I have lost money when a borrower defaults.
    But when people want/need money they don't have to get it unless someone is willing to take a chance on them. Lenders lose when borrowers don't repay. Reality bits. Don't borrow if you don't want to pay the interest. And probably college is a bad or terrible investment for many. Sorry. If you aren't academically smart and don't have good career prospects don't waste your money.

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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by gdgyva View Post
    no....the department of education SHOULDNT EXIST

    education should be a state matter

    and if you want a loan to go to school, then you go to a bank, a credit union, or your relatives

    giving out loans to people or businesses is not the role of the feds
    I agree that education should be a state matter.

    And yet all these conservatives are defending Congress and the Dept of Ed. for an interest rate that is generating tens of billions in profits each year.

    Utter hypocrisy.
    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
    http://www.wealthandwant.com/

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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Geoist View Post
    Go elsewhere? I'm sorry, but not going to college was absolutely not an option in my family.

    And, no they cannot simply "do what they want to do." This is a democracy, not a dictatorship. And there is a movement within govt and outside govt to lower those interest rates.
    Go elsewhere for money. And no, it's not a democracy, it's a democratic republic. We elect people to do what we, in general, want. Maybe that's why you're so laughably wrong, you think this is a democracy.
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Interest is a tax on stupidity.....
    just another way of saying "those who understand interest collect it, those that don't pay it". Mark Twain, I think....

    I would bet that many, if not most, of the student loans were to people whose parents could have helped their kids go to college but just chose not to.

    The wife got her first 2 years paid for by her parents (and it was a financial hardship for them), then she married me and I paid the rest. GI Bill and my employer paid for my college.

    We paid for our 2 kids to go to state universities, will pay for 7 grandchildren as well. Hopefully all 7 will get Masters Degrees or more.

    Most of us can do it without loans, if we commit to it early and work at it until it is done....
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    Truth rings hollow in empty heads.

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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Geoist View Post
    Go elsewhere? I'm sorry, but not going to college was absolutely not an option in my family.

    And, no they cannot simply "do what they want to do." This is a democracy, not a dictatorship. And there is a movement within govt and outside govt to lower those interest rates.
    So then your family should pool your money and fund everyone's college education, or take a loan at a lower interest rate elsewhere.
    Horse sense is the thing a horse has which keeps it from betting on people. ~W.C. Fields

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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Geoist View Post
    You don't have to buy anything. Some people get along fine with the simple non-consumerist living.
    The don't buy clothes? Or the means to make clothes? Or food? You cannot avoid sales taxes unless you live in a tent in the woods.
    Don't be a grammar nazi - Marcus Aurelius, Meditations, Book 1 #7

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