The Student Loan Rip Off Made Clear:
The federal government borrows money to finance the national debt (and the Iraq War) at an interest rate of 3 to 4 percent, so why do federally financed student loans on which the government pays the loan interest while students are in school cost the government (i.e. the taxpayer and eventually the student) 7 to 8 percent?
Michael Kinsley, founder of Slate, takes a look at the the student loan fiasco, pealing off another layer of government scandal foisted upon us by the Republicans over the course of the past 13 years. What's clear is that the student loan fiasco that has been high lighted by college administrators receiving kickbacks from banks for funneling student loans to them has come about because the government, controlled by Republicans until 2006, has been the dairyman for the banks, milking you and your children.
Follow the money.
The federal government borrows money to finance the national debt (and the Iraq War) at an interest rate of 3 to 4 percent, so why do federally financed student loans on which the government pays the loan interest while students are in school cost the government (i.e. the taxpayer and eventually the student) 7 to 8 percent?
Michael Kinsley, founder of Slate, takes a look at the the student loan fiasco, pealing off another layer of government scandal foisted upon us by the Republicans over the course of the past 13 years. What's clear is that the student loan fiasco that has been high lighted by college administrators receiving kickbacks from banks for funneling student loans to them has come about because the government, controlled by Republicans until 2006, has been the dairyman for the banks, milking you and your children.
Follow the money.
posted by Jim | 11:37 AM
0 Comments:
Post a Comment
<< Home