Article

2010-03-30 Home Front: Culture Wars

Hidden Costs in these Gov't Student Loans

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Sherry 2010-03-30 15:31|| || Front Page|| [11128 views ] Top

#1 So, more inefficiency bought with more of other people's money that we can't afford to pay back.

Our country will not survive 3 more years of this idiot.

Posted by DarthVader 2010-03-30 16:20|| 2010-03-30 16:20|| Front Page Top

#2 The trust-fund kids really don't like competition?

Posted by g(r)omgoru 2010-03-30 16:28|| 2010-03-30 16:28|| Front Page Top

#3 Of course indebted students could elect to work their loans off at Barry's Acorn Acres re-election farm.

Posted by Besoeker 2010-03-30 16:30|| 2010-03-30 16:30|| Front Page Top

#4 it is ironic that educatyional costs are primarily driven by government. Instead of addressing the double digit % cost increases over the years the government just takes of the business of loaning more money to the stooges who go to college. Note: I am one of those stooges who went college and send 2 to college presently.

Posted by airandee 2010-03-30 16:56|| 2010-03-30 16:56|| Front Page Top

#5 Gov't Student Loan interest structure:

a. Students from Red States pay standard 6.8%
b. Students from Blue States pay standard 5.8%
c. Non-US Foreign students pay 4.8%
d. Students whose parents earns less than $35,000 per year pays 3.8%
e. Students whose parents earn more than $35,000 per year pay 6.8% plus high-earner penalty of 1.2% per $10,000 dollars over minimum earner limit but not to exceed 22.8% (see Red State penalty Annex A for additional fees)
f. Students having one special category (non-earner) parent as listed in Annex A, Schedule 101, deduct 8% from interest listed in paras a through e.
g. Students having two special category (non-earner) parents as defined in Annex A, Schedule 101, deduct 16% from interest listed in paras "a thru e."
h. Students paying in excess of -2.2% but not more than -27% must elect direct deposit option as prescribed in Annex B, Schedule 102.
i. Students paying in excess of -27% must be reimbursed (free GM car lease option, laptop, meals, travel, etc, via Annex C.)
j. All students with the exception of those listed in categories A and E qualify for job placement upon graduation.

Posted by Besoeker 2010-03-30 17:04|| 2010-03-30 17:04|| Front Page Top

#6 this will throw 31,000 Americans working at community banks and non-profit lenders out of work

Yeah, but they can apply for the 50,000 new jobs with the Federal government that will have to be created to administer the same loans. And if they get one of those jobs, it will be at a 45% premium in pay, and better benefits and job security too - minus their government union dues and DNC 'contributions'.

Posted by Glenmore 2010-03-30 17:11|| 2010-03-30 17:11|| Front Page Top

#7 Glenmore points out the one thing that no one seems to have picked up on. How many federal employees will be required to support this program? And what will their wages be?

Posted by tipover 2010-03-30 18:25|| 2010-03-30 18:25|| Front Page Top

#8 Most likely it'll be contracted out. The interesting part will be those who get the contracts.

Posted by Pappy 2010-03-30 21:39|| 2010-03-30 21:39|| Front Page Top

23:55 trailing wife
23:49 trailing wife
23:38 remoteman
23:33 Skidmark
23:15 DarthVader
22:58 tu3031
22:48 trailing wife
22:45 trailing wife
22:44 Scooter McGruder
22:40 Skunky Glins****
22:40 OldSpook
22:25 OldSpook
22:24 tu3031
22:22 abu do you love
22:11 phil_b
22:09 OldSpook
22:08 Rambler in Virginia
22:05 OldSpook
22:04 Frank G
21:57 tu3031
21:56 OldSpook
21:55 newc
21:55 Pappy
21:54 JohnQC