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View Diary: Senator Reed, Harkin, Reid, and Murray introduce the Student Loan Affordability Act (9 comments)

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  •  Why should we support this bill over Sen Warren's? (5+ / 0-)
    Recommended by:
    ExStr8, mollyd, phonegery, Elwood Dowd, myboo

    You call this legislation good news?  Are we supposed to cheer turning student loans into a profit center?  Why should the student loan interest rate be higher than the federal funds rate? Why should there be any need to pay for the lower rate with closing tax loopholes? Why does the federal government need to charge interest at all?  It's unconscionable for the government to profit off of the mortgaging of young people's futures.

    Student loans should not be a government profit center, and any interest above the rate inflation is too much.

    "Some folks rob you with a six-gun, some rob you with a fountain pen." - Woody Guthrie

    by Involuntary Exile on Wed May 15, 2013 at 01:50:54 PM PDT

    •  It sounds like a (0+ / 0-)

      'hurry up and kick this can down the road' move to me.  Warren has it right: why not let student loans get the same rate as the banks, and keep that rate for the same length of time the banks have been profiting from their getting a gift rate.

      Time is a long river.

      by phonegery on Wed May 15, 2013 at 02:52:18 PM PDT

      [ Parent ]

      •  Looks lie a move to slap down a freshman senator (1+ / 0-)
        Recommended by:

        if you ask me.  Senior members taking the wind out of a populist hero's sails. This is how they bury her popular legislation.  Can't let it pass, nooo.  That would make her a hero, and serious vice-presidential material in 2016.  Kill her bill by rolling out with much bigger fanfare another bill closer to what private student loan issuers want.

        I smell a rat it it smells like big banks.

        "Some folks rob you with a six-gun, some rob you with a fountain pen." - Woody Guthrie

        by Involuntary Exile on Wed May 15, 2013 at 03:05:58 PM PDT

        [ Parent ]

    •  We can do both can't we? (0+ / 0-)

      Unless I missed something, Senator Warren is nowhere close to having the votes she needs. Therefore doing nothing ,because we cannot do the best, is not the most helpful course of action given the circumstances.

      You need to give that speech to the Republicans in Congress and to voters. I really do not think the diarist, or most of us here at DK, really need it.

      We also need to stop pretending that this wasn't a most urgent moral issue before this administration took over. Students have been getting hosed now for decades.

      There is not a thing wrong with stopping that rate increase while we work to get the Warren bill passed. I assume people are going to help, right?

      The politicians may be bought, and the system corrupt, but it is our duty to fix these things.

      by sebastianguy99 on Wed May 15, 2013 at 11:05:42 PM PDT

      [ Parent ]

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