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S. 2432 - Students Emergency Loan Refinancing Act

What's the conservative argument against this?

Bill would have allowed approximately 25 million people to refinance student loans at current interest rates.

The vote was 56-38 and pretty much along party lines.

https://www.govtrack.us/congress/votes/113-2014/s185" onclick="window.open(this.href);return false;

You left out the part about raising taxes to pay for it..

There are hundreds of reasons this bill was a bad idea

not the least of which is that it does nothing to address the inflating costs of college educations

a better question to ask would be-

why would Fauxcahontas push a bill that had no chance of passing as written?

CID1990 wrote:There are hundreds of reasons this bill was a bad idea

not the least of which is that it does nothing to address the inflating costs of college educations

a better question to ask would be-

why would Fauxcahontas push a bill that had no chance of passing as written?

Um, maybe to burnish her creds with the left as a possible primary challenger to the Hildabeast?

CID1990 wrote:There are hundreds of reasons this bill was a bad idea

not the least of which is that it does nothing to address the inflating costs of college educations

a better question to ask would be-

why would Fauxcahontas push a bill that had no chance of passing as written?

Skjellyfetti wrote:S. 2432 - Students Emergency Loan Refinancing Act

What's the conservative argument against this?

Bill would have allowed approximately 25 million people to refinance student loans at current interest rates.

The vote was 56-38 and pretty much along party lines.

https://www.govtrack.us/congress/votes/113-2014/s185" onclick="window.open(this.href);return false;

Refinance at the current interest rate would be nice, but this does nothing to alleviate the problem or high education costs.

Ibanez wrote:

Skjellyfetti wrote:S. 2432 - Students Emergency Loan Refinancing Act

What's the conservative argument against this?

Bill would have allowed approximately 25 million people to refinance student loans at current interest rates.

The vote was 56-38 and pretty much along party lines.

https://www.govtrack.us/congress/votes/113-2014/s185" onclick="window.open(this.href);return false;

Refinance at the current interest rate would be nice, but this does nothing to alleviate the problem or high education costs.

But that's a different issue.

Everyone else can refinance why not students? The Fed lends $'s to big banks for practically nothing. This would have been paid for by the Buffet rule tax of ensuring millionaires don't pay less than 30%.

kalm wrote:

Ibanez wrote:
Refinance at the current interest rate would be nice, but this does nothing to alleviate the problem or high education costs.

But that's a different issue.

Everyone else can refinance why not students? The Fed lends $'s to big banks for practically nothing. This would have been paid for by the Buffet rule tax of ensuring millionaires don't pay less than 30%.

I agree that refinancing would help save thousands of dollars(per person) but you are asking the US Gov't to treat loans equally. We can't expect them to do that. I understand they loaned money, but they've gotta keep us in line somehow. Right? We're Financial Slaves now.

kalm wrote:Everyone else can refinance why not students?

Everyone else can refinance what? Loans with collateral? Apples and oranges Kalm.

kalm wrote:Everyone else can refinance why not students?

Because "everyone else" isn't necessarily refinancing on the public dime, Klam.

You're smarter than that populist bullcrap

ALSO- once this re-fi scheme was set into law it would NEVER go away.... only grow and grow and grow and be tweaked and tweaked and tweaked until we are essentially footing college bills while college costs go up and up and up. This is one reason college costs are so damn high as it is- because government money is involved. If it wasn't. you'd see college costs down around 1970s levels (adjusted for inflation)- and a hell of a lot fewer goofy social justice academic departments

Didn't we just have problems (a few years ago) with the government guaranteeing to pick up the slack for financiers accepting heightened risk?

CID1990 wrote:

kalm wrote:Everyone else can refinance why not students?

Because "everyone else" isn't necessarily refinancing on the public dime, Klam.

You're smarter than that populist bullcrap

ALSO- once this re-fi scheme was set into law it would NEVER go away.... only grow and grow and grow and be tweaked and tweaked and tweaked until we are essentially footing college bills while college costs go up and up and up. This is one reason college costs are so damn high as it is- because government money is involved. If it wasn't. you'd see college costs down around 1970s levels (adjusted for inflation)- and a hell of a lot fewer goofy social justice academic departments

Didn't we just have problems (a few years ago) with the government guaranteeing to pick up the slack for financiers accepting heightened risk?

In round about way they are...the FED, full faith, bailouts and such.

Interesting topic. I have no idea why refinancing a car or house loan is or isn’t comparable to student loans. I don’t know the in’s and outs of this failed bill (does it really matter though? Obama still has his pen and a phone and will probably just push it through anyways), but the tax payers will no doubt be the ones to foot the bill as we all know the banks aren’t going to accept a reduction in projected profits.

Bottom line is if people invest in a degree that is worth a damn then student debt isn’t really an issue. The onus should be on students being smarter about where they chose to get their degree at and what they chose to get their degree in.

The question was what is the conservative argument against and BDKJMU answered it right off the bat.

kalm wrote:

CID1990 wrote:
Because "everyone else" isn't necessarily refinancing on the public dime, Klam.

You're smarter than that populist bullcrap

ALSO- once this re-fi scheme was set into law it would NEVER go away.... only grow and grow and grow and be tweaked and tweaked and tweaked until we are essentially footing college bills while college costs go up and up and up. This is one reason college costs are so damn high as it is- because government money is involved. If it wasn't. you'd see college costs down around 1970s levels (adjusted for inflation)- and a hell of a lot fewer goofy social justice academic departments

Didn't we just have problems (a few years ago) with the government guaranteeing to pick up the slack for financiers accepting heightened risk?

In round about way they are...the FED, full faith, bailouts and such.

"In a round about way" is not direct legislation requiring either a tax hike or printing more money.


Why are you and others like SK content to ask what Republicans would have against this bill, rather than asking what this bill would do to fix the problem?

OL FU wrote:The question was what is the conservative argument against and BDKJMU answered it right off the bat.

BINGO..!!!
Raising Taxes - I'm not interested in more taxes - if we can't get done what needs to get done under the current taxation rates, then it should be OFF THE TABLE


Read my lips - no new taxes

-
Instead of hurting the economy with regulations and taxes it would have been nice if they actually considered doing something to create a few jobs

Bronco wrote:-
Instead of hurting the economy with regulations and taxes it would have been nice if they actually considered doing something to create a few jobs

They DO

there are hundreds of gender studies and ethnic studies department heads in colleges across the country that have the government to thank for their existence

CID1990 wrote:

Bronco wrote:-
Instead of hurting the economy with regulations and taxes it would have been nice if they actually considered doing something to create a few jobs

They DO

there are hundreds of gender studies and ethnic studies department heads in colleges across the country that have the government to thank for their existence

Now now... lets not get too snarky there Mr. Gov't employee

Something is going to have to give here. The last thing I want to see is some new federal bureaucracy pop up to regulate spending by colleges and give us no-child-left-behind-style idiocy for higher education.

Chizzang wrote:

CID1990 wrote:
They DO

there are hundreds of gender studies and ethnic studies department heads in colleges across the country that have the government to thank for their existence

Now now... lets not get too snarky there Mr. Gov't employee

im sorry i didnt realize that i have no standing to comment on how the infusion of government funny money has simultaneously raised the cost of college while decreasing its relevance and value

and given that my kids are 6 and 4 and I am ALREADY frantically saving money for their college educations is ridiculous

Everyone should check their student loan payments. A year ago I found that South Carolina was doing some weird shit where my principal payment was different by $15-$30 for several years. With an auto-payment done through their system, there weren't any late fees or anything like that. The software was jacked up and a few thousand dollars that should've gone to principle was going to interest. In theory, over time, you pay less and less interest. That wasn't happening.

CID1990 wrote:

Chizzang wrote:
Now now... lets not get too snarky there Mr. Gov't employee

im sorry i didnt realize that i have no standing to comment on how the infusion of government funny money has simultaneously raised the cost of college while decreasing its relevance and value

and given that my kids are 6 and 4 and I am ALREADY frantically saving money for their college educations is ridiculous

We covered this already... Your opinion is tainted
YOU: as a The Citadel grad / former Military / former Police officer / present Gov't employee

That's four strikes you're out right there Mr.
The Gov't has paid your salary for far too long (you're tainted goods)


Hugs?

CID1990 wrote:

kalm wrote:
In round about way they are...the FED, full faith, bailouts and such.

"In a round about way" is not direct legislation requiring either a tax hike or printing more money.


Why are you and others like SK content to ask what Republicans would have against this bill, rather than asking what this bill would do to fix the problem?

I agree with this sentiment. The problem with student loans isn't the interest that's charged on them (and 89 is right, comparing student loans to a home mortgage is silly, is the student going to give his degree back if he defaults and have it sold at a sherriff's sale?), the problem is that the loans need to be so big to begin with. Colleges are just packing away the money because they know that loans are so easy to get and so bountiful. All we do when we, with good intentions of course, try to make college more affordable by giving more money to students, is to simply transfer money directly to colleges who take pretty much all that extra money by raising tuitions. Because they can raise the tuitions to any amount and still have people pay them because people feel, rightfully so in many cases, that they have to have a college degree, that's why we have the problem we do today with student loans and debt. Trying to pass a bill to allow refinancing of the loans is just lipstick on a pig (I've honestly have never used that phrasing until just now - next thing you know I'll be saying that dog just don't hunt or something like that!).

Chizzang wrote:

CID1990 wrote:
im sorry i didnt realize that i have no standing to comment on how the infusion of government funny money has simultaneously raised the cost of college while decreasing its relevance and value

and given that my kids are 6 and 4 and I am ALREADY frantically saving money for their college educations is ridiculous

We covered this already... Your opinion is taintedYOU: as a The Citadel grad / former Military / former Police officer / present Gov't employee

That's four strikes you're out right there Mr.
The Gov't has paid your salary for far too long (you're tainted goods)


Hugs?

I know you are, but what am I? (heh-heh-heh-...he said "taint" )

Chizzang wrote:

CID1990 wrote:
im sorry i didnt realize that i have no standing to comment on how the infusion of government funny money has simultaneously raised the cost of college while decreasing its relevance and value

and given that my kids are 6 and 4 and I am ALREADY frantically saving money for their college educations is ridiculous

We covered this already... Your opinion is tainted
YOU: as a The Citadel grad / former Military / former Police officer / present Gov't employee

That's four strikes you're out right there Mr.
The Gov't has paid your salary for far too long (you're tainted goods)


Hugs?

You are making a goofy habit of missing the point lately, Chitz

gender studies professors are not federal employees- but the existence of these highly specialized and focused college departments IS a result of government largesse in education finance

you might as well be saying I cannot criticize our wars because I was in the military or our laws because I was a cop