Student Loans

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  • Hallelujah
    Junior Member
    • Dec 2008
    • 2741
    #1

    Student Loans

    As part of the Universal Healthcare legislation, elminating the middle man (banks) from student loans was also included (don't ask, I have no idea why student loans were included in a healthcare bill).

    My inquiry is this. Will the interest rates be reduced to students now that the middle man is removed? Or will the interest rates remain the same, but instead of the banks getting the interest, now the government will get those funds?
    Tags: None
    • DU Ute
      RIP CUF
      • Dec 2008
      • 7393
      #2
      [ame="http://www.youtube.com/watch?v=fr7hfAcx_zk"]YouTube- Hallelujah - Lauren Student Choreography[/ame]
      "In conclusion, let me give a shout-out to dirty sex. What a great thing it is" - Northwestcoug
      "And you people wonder why you've had extermination orders issued against you." - landpoke
      "Can't . . . let . . . foolish statements . . . by . . . BYU fans . . . go . . . unanswered . . . ." - LA Ute

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        • wuapinmon
          Soul Plumber
          • Dec 2008
          • 30711
          #3
          Originally posted by Hallelujah View Post
          As part of the Universal Healthcare legislation, elminating the middle man (banks) from student loans was also included (don't ask, I have no idea why student loans were included in a healthcare bill).

          My inquiry is this. Will the interest rates be reduced to students now that the middle man is removed? Or will the interest rates remain the same, but instead of the banks getting the interest, now the government will get those funds?
          My goodness. An honest non-partisan question. Perhaps you are redeemable.

          I need to go read more about this. Wow!
          "Wuap's "problem" is that he is smart & principled & committed to a moral course of action. His actions are supposed to reflect his ethical code.
          The rest of us rarely bother to think about our actions." --Solon

            Comment

            • Lost Student
              BAND!
              • Nov 2008
              • 4324
              #4
              Originally posted by Hallelujah View Post
              As part of the Universal Healthcare legislation, elminating the middle man (banks) from student loans was also included (don't ask, I have no idea why student loans were included in a healthcare bill).

              My inquiry is this. Will the interest rates be reduced to students now that the middle man is removed? Or will the interest rates remain the same, but instead of the banks getting the interest, now the government will get those funds?
              One of my student loans is a Federal Direct loan. It has the highest rate of all my student loans.
              "Seriously, is there a bigger high on the whole face of the earth than eating a salad?"--SeattleUte
              "The only Ute to cause even half the nationwide hysteria of Jimmermania was Ted Bundy."--TripletDaddy
              This is a tough, NYC broad, a doctor who deals with bleeding organs, dying people and testicles on a regular basis without crying."--oxcoug
              "I'm not impressed (and I'm even into choreography . . .)"--Donuthole
              "I too was fortunate to leave with my same balls."--byu71

                Comment

                • New Mexican Disaster
                  Suomalainen
                  • Nov 2008
                  • 4549
                  #5
                  Originally posted by Hallelujah View Post
                  As part of the Universal Healthcare legislation, elminating the middle man (banks) from student loans was also included (don't ask, I have no idea why student loans were included in a healthcare bill).

                  My inquiry is this. Will the interest rates be reduced to students now that the middle man is removed? Or will the interest rates remain the same, but instead of the banks getting the interest, now the government will get those funds?
                  From my understanding this was a pretty profitable area for the banks as there were large government subsidies given to them in order to foster a healthy loan market. It looks like the gov't will shovel the savings into other college aid programs.

                  http://www.nytimes.com/2010/03/26/us...s/26loans.html

                    Comment

                    • shoganai
                      Junior Member
                      • Feb 2010
                      • 513
                      #6
                      Originally posted by Hallelujah View Post
                      As part of the Universal Healthcare legislation, elminating the middle man (banks) from student loans was also included (don't ask, I have no idea why student loans were included in a healthcare bill).

                      My inquiry is this. Will the interest rates be reduced to students now that the middle man is removed? Or will the interest rates remain the same, but instead of the banks getting the interest, now the government will get those funds?
                      I don't know how the law spells it out now. However my best guess is that if the feds aren't using it as a revenue stream immediately, it will be too tempting an option to pass it up for very long.

                      Personally, I don't have a big problem with some government programs to incentivize higher education (although it may contribute some to increasing tuition costs). But I wish they would do it in the form of more tax credits and deductions both to the students and the institutions themselves, rather than through low-interest loans.

                        Comment

                        • Coach McGuirk
                          1
                          • Nov 2008
                          • 12109
                          #7
                          Student Moans - You know when you were staying in BYU approved housing and the room next to yours has moaning coming from it and you are like, "I am going to have to report this to the HC"? You know that feeling? I don't, but Mr. Crimson does.

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