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National debt falls on students as well

July 17, 2013

Predictions of looming disaster for millions of college students have some of them convinced the sky is falling over federal student loan rates. It is not....

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Jul-20-13 11:06 PM

College isn't for poor people. They only need to be smart enough to ask if you want fries with that. The last thing Big Money wants is an educated work force.

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Jul-20-13 9:12 PM

My brother would have stayed in college 10+ years if he knew he didn't have to pay for any of it.

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Jul-20-13 5:34 PM

The loans in question go to low and moderate income students. Conservatives champion social mobility but, with positions like this, cut off the means to that mobility. Better ways exist to lower the deficit than by passing it on to students.

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Jul-18-13 11:34 PM

Rather than add to the national debt the government makes money on these loans, even with the current low rate, because of the rates the government gets. There was no need to raise rates to prevent more government debt. "The federal government is due to book $51 billion in profit this year off new and existing federal student loans, according to estimates by the nonpartisan Congressional Budget Office. The record amount brings the government’s profit haul to nearly $120 billion over the past five years, according to CBO forecasts and Department of Education budget documents. The CBO estimates that the government will generate $184 billion in profit for new loans made this fiscal year through 2023."

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Jul-18-13 5:29 PM

Thank you, TURBO.

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Jul-18-13 10:30 AM

It's called sarcasm, jv. Or as you would refer to it, Sarcasm. I have made it my mission in retirement to educate the rabble that populates the morning coffee crowds at the various NU establishments. No need to thank me.

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Jul-18-13 9:31 AM

Turbo 75 if you actually believe your initial post it is good thing that the Affordable Healthcare Act covers mental illness as you need years and years of intense therapy.

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Jul-17-13 9:04 PM

japanviking, there really is no need to capitalize your insults, unless you were calling me a Mormon. for full effect it should be; japanviking, you are a MORON.

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Jul-17-13 3:10 PM

TURBO 75 you are a Moron.

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Jul-17-13 1:13 PM

NUSenior, "pull the plug on Grandma" can be found in the Obamacare law on page 19,234 at the bottem of the page. The Democrats snuck it into the law while the Republicans were looking for Obama's birth certificate. The Dems thought it was a good way to solve the Social Security funding problems, knock off a bunch of seniors before they collect.

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Jul-17-13 11:18 AM

I'm sure the average college graduate can find an extra $22.00 a month in beer money to pay back their obligations. But, we seem to have taught our children well according yunosmart - why stand up and be responsible for yourself when you can simply pass it off on someone else... Seems to be a common theme running through our country today.

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Jul-17-13 10:52 AM

Yousosmart After my first visit to a doctor under the new Medicare reimbursement schedule. You will get what you want a big cut in “social security payments to old age pensioners”. Longer wait times to see a doctor more limits on what care Medicare will cover, higher patients copays, short stays in I.C.U. i.e.” pull the plug on Grandma” means a higher death rate for old age pensioners.

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Jul-17-13 1:15 AM

I bet no one at the Journal went to college, so it's easy for them to say that the student loan rates are not a disaster. Kicking the burden of paying the national debt on young people who are just starting their lives is wrong. Kids graduate from college with thousands of dollars of debt and then there is no guarantee that they will get a job. Even if they have a STEM degree. Maybe they should cut back social security payments to old age pensioners. Those baby boomers are going to be expensive to pay for.

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