Student loan changes to get health care bill approved ?

[Ozoned]

Reconcilliation can not be used to pass policy.

 

[quikah]

It will probably cost jobs which is the last thing they want. What did they get out of it ?

It will cost jobs that frankly shouldn't have existed in the first place. What is the point of paying a 3rd party to hand out the government's money?

 

[Hayabusa Rider]

I think people are missing the point . What is this doing in the health care bill ?
You can be assured that if it got more votes for health care it is in there to do a lot more than just cut out the middle man in the student loan process. Why would so many democrats care all of sudden that we are cutting out a middle man , enough so that they sign on to health care?

It will probably cost jobs which is the last thing they want. What did they get out of it ?

The question is the answer.

so that they sign on to health care?

Nothing is as important as getting anything through in time for the election.

 

[Modelworks]

It will cost jobs that frankly shouldn't have existed in the first place. What is the point of paying a 3rd party to hand out the government's money?

Some of these guys were dead set against health care and along comes the idea to move the student loans totally to the government and they jump on board with health care because of that ?

 

[Genx87]

i still have no idea why they think that increasing demand will ever make college more affordable.


especially since this is just a giant handout to UoP.

This is govt. Supply\Demand curves need not apply.

 

[CycloWizard]

No, they aren't going to be doing same job. It's not going to be hundreds of different companies with their own overheads and other middlemen then helping you pick one of those companies and taking another cut. Plus since the taxpayers are the ones taking the risk, the people reviewing the applications better be working for the taxpayers.

Instead, you just have one massive corporation with far more overhead than any collection of private companies could ever dream about. And quit pretending that you're concerned about the taxpayers' money. If you were, you wouldn't be supporting this bill in the first place because of all of the other crap which forms its foundation.

 

[cubby1223]

And apparently they're making all sorts of last-minute adjustments to this student loan legislation
http://news.yahoo.com/s/ap/20100319/ap_on_bi_ge/us_health_care_student_loan

This whole process is just so surreal...

Anyone understand any of this?

And it's all being voted on in two days from now?



So they have this 72-hour period since the legislation is posted online...

but the legislation isn't even finished, so what's the point of posting it online?

 

[cubby1223]

Reconcilliation can not be used to pass policy.

It can if lawmakers don't give a shit.

 

[boomerang]

I think people are missing the point . What is this doing in the health care bill ?
You can be assured that if it got more votes for health care it is in there to do a lot more than just cut out the middle man in the student loan process. Why would so many democrats care all of sudden that we are cutting out a middle man , enough so that they sign on to health care ?

It will probably cost jobs which is the last thing they want. What did they get out of it ?

It's rolled into the health care bill because the HC bill itself will not pass muster with the CBO on its own. It's part of a plethora of gimmicks the Dems are using to get this HC bill through.

The student loan bill is structured to score that it saves money. Whether it does or not is highly questionable, but regardless it is, and when folded into the HC bill it reduces the outlay and brings the HC bill in under the $1 trillion dollar spending limit.

As I said, it's one of numerous gimmicks employed to bring this bill to life at all costs. The original gimmick that is still in the bill is the 6 years of coverage we'll pay 10 years of taxes for. What's making this all possible is that the CBO must score the bill as written regardless of what shenanigans are incorporated.

This is going to give the green light to many fiscally irresponsible bills in the future. The Dems have found another way to play the system and the people be damned.

As a bit of a side issue, one of the facets of the CBO scoring that the Dems are crowing about is the $138 billion in savings over ten years. That much money is being spent every 16 days at current spending levels.

 

[cubby1223]

As a bit of a side issue, one of the facets of the CBO scoring that the Dems are crowing about is the $138 billion in savings over ten years.

The way government operates, they'll just see this $138b reduction, and say to us "let's create another new entitlement for $138b, we have the money sitting here."

The bigger gimmick will be that the first 4 years of taxes will be put to use in new gov't spending, stimulus 3.0 perhaps, it will not be saved to cover the "benefits" of this bill. It's the way things just work. Spending and deficits will be greater if this bill is passed.

 

[boomerang]

The way government operates, they'll just see this $138b reduction, and say to us "let's create another new entitlement for $138b, we have the money sitting here."

The bigger gimmick will be that the first 4 years of taxes will be put to use in new gov't spending, stimulus 3.0 perhaps, it will not be saved to cover the "benefits" of this bill.

There are many more of us that realize this than don't. But amazingly, or not, our opinions are meaningless in the United States in 2010.

The pendulum swings.

 

[shortylickens]

I just saw the news on Obamas ideas for student loans this morning.
Last year, I remember him saying that right after he got the health bill through he would focus on education, specifically finances for higher education.

Will read more. I am very interested to see how this goes. If its like the health care bill I will probably be graduated before it affects me.
Luckily I have my GI Bill.
(Unless he takes that away, 🙁 )

 

[Hacp]

Giving a government handout to these student loan outfits is wrong. This is a step in the right direct. However, a step FURTHER in the right direction would be eliminating government funded student loans all together! Let the private sector decide which students are worth lending to. You have people going to college partying it up and majoring in Women's Studies on the government dime.

 

[TruePaige]

Giving a government handout to these student loan outfits is wrong. This is a step in the right direct. However, a step FURTHER in the right direction would be eliminating government funded student loans all together! Let the private sector decide which students are worth lending to. You have people going to college partying it up and majoring in Women's Studies on the government dime.

🙄

Way to make education unattainable for the masses.

You are such a spoiled brat, Hacp. It just reads in every post you make.

 

[JSt0rm]

why is this thing bad? It SAVES tax money.

 

[Gonad the Barbarian]

I am happy to see banks taken out of the subsidized student loan equation. I however do not like payment limits or forgiveness now given to student loans after 10/20 years. We don't need more liberal arts graduates with careers are Barnes & Nobles cashiers, and we certainly don't need to subsidize it.

 

[Hacp]

I am happy to see banks taken out of the subsidized student loan equation. I however do not like payment limits or forgiveness now given to student loans after 10/20 years. We don't need more liberal arts graduates with careers are Barnes & Nobles cashiers, and we certainly don't need to subsidize it.

Exactly! Too many psychology and sociology majors who got a C in organic chemistry working at Starbucks with 100k in debt.

 

[Throckmorton]

A lot of people are confused about what reconciliation is, probably because of the media spouting BS to get ratings. Even without reconciliation, healthcare reform passed. The Senate passed the bill, then the House passed the bill, then the president signed it. That's how bills get passed.
The reconciliation is a bunch of adjustments that were passed by the House and the Senate and signed separately by the president.

 

[theevilsharpie]

However, a step FURTHER in the right direction would be eliminating government funded student loans all together! Let the private sector decide which students are worth lending to. You have people going to college partying it up and majoring in Women's Studies on the government dime.

This. The costs of education, like health care, are skyrocketing largely because desperate people willing to pay any price to receive an education are gaining access to greater amounts of credit.

 

[Throckmorton]

This. The costs of education, like health care, are skyrocketing largely because desperate people willing to pay any price to receive an education are gaining access to greater amounts of credit.

Well I bet I wouldn't have gotten any loans for a geography degree because I bet bankers have no idea what geography is, and in reality it probably is more risky than an engineering degree or something. But my geography degree just got me a stable job at Maui County.

 

[TruePaige]

Exactly! Too many psychology and sociology majors who got a C in organic chemistry working at Starbucks with 100k in debt.

You know with a psych degree at the Master's level you can be a professional counselor and make a nice living right?

Sociology is a great bridge into a masters program or towards social work as well.

Only people who would have been working at Starbucks anyway end up working at Starbucks after attaining higher education.

 

[Hacp]

Well I bet I wouldn't have gotten any loans for a geography degree because I bet bankers have no idea what geography is, and in reality it probably is more risky than an engineering degree or something. But my geography degree just got me a stable job at Maui County.

Bankers might not know what geography is but they'll have data that shows which degrees lead to higher paying jobs and adjust loan offers accordingly.

 

[Throckmorton]

Bankers might not know what geography is but they'll have data that shows which degrees lead to higher paying jobs and adjust loan offers accordingly.

But that's the problem. Most people with a geography degree don't use it, but some of us do.

 

[Hacp]

But that's the problem. Most people with a geography degree don't use it, but some of us do.

And so, people who don't use their degrees will stop pursuing a geography degree when they see the outrageous interest rate banks charge and only geologists who are serious will pursue the degree. In a few years, the market will correct itself and serious geologists who start making decent money will change the interest rate on loans to new geology majors. Amazing how the free market works doesn't it?

 

[Fern]

I think people are missing the point . What is this doing in the health care bill ?
You can be assured that if it got more votes for health care it is in there to do a lot more than just cut out the middle man in the student loan process. Why would so many democrats care all of sudden that we are cutting out a middle man , enough so that they sign on to health care ?

It will probably cost jobs which is the last thing they want. What did they get out of it ?

My understanding is 2 things:

1. It is counted as a revenue source for the fed gov by the CBO thereby supporting the claim that the HC bill reduces the deficit. Also, I think because Congress ended up pushing some of the benfits up etc, they needed something to pad the bottom line.

2. I heard this will benefit one of the Dakota's, and they needed that Senator's support. Not sure if that ended up in the final bill though.

Fern