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Originally Posted by GMScud
First the health care industry. Now with the changes being made to federal student loans, lots more young Americans are going to be carrying financial debt with the US of A as the lender. Awesome decision given the crapper the banking industry is already in. And it further expands big government. Blech.
I'm all for education, but our banks are hurting too much right now for another multi-billion dollar blow.
New rules streamline student loans, eliminate some pitfalls - USATODAY.com |
You think Banks should be able to borrow money from the feds turn around and lend it to students for 2 percent profit? Interesting.
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The change, included in the health care overhaul bill that cleared Congress last week, has caused considerable turmoil in the banking industry, which stands to lose billions of dollars in federal subsidies.
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BTW, subsidies are a form of bail out aren't they? I thought conservatives were against bailouts.
If Banks can borrow money from the feds so should I and I did until Republicans decided their friends needed be tossed a few billion dollars for free. I applicate the fact that Uncle Sam lent me some money to go to school and I am forever thankful.