The government is taking over everything.
what next? Raising the interest rates?
Does the government really need to keep
attacking the young and the elderly?
God help this country!!!

Actually-as a student borrower, I feel much more comfortable with my low-interest loans acquired through Direct Loans (i.e., the EVIL government of the U.S.A.!)than the constantly increasing interest rates on the loans MOHELA “acquired” from my university after the fact.

GET OVER YOUR MISTRUST OF THE GOV’T! YOU SURE DIDN’T EXHIBIT ALL THIS PARANOIA WHEN W. WAS SPENDING YOUR ‘HARD-EARNED MONEY’ ON WAR OR TAX CUTS FOR THE TOP 5% OF RICH PEOPLE IN THIS COUNTRY.

Your freak-outs ring false, right-wing racists.

Woops! Meant to say right-wing fascists, not racists. But since y’all like to clump commies/nazis/marxists and socialists of all kinds into one bag, I guess it’s okay to let that mistake stand, eh?

Hush…..wait till you get out of school and find a job. You’ll really appreciate your low interest rate coupled with your HIGH tax rate! I wonder why we are trillions of dollars in debt when the government does such a great job of running things. Your generation needs to wake up quickly. And thanks for letting me know the wars in Iraq and Afganistan are over. Oh wait….war is either necessary or free with Obama in office!!!

I’m so tired of the over politicizing of public policy. At the end of the day, people are hurting. The name calling, hate, etc. it has to stop. We’ve got people uninsured and underinsured. Americans are graduating from college and can’t find jobs to pay back their student loans. Families are losing their homes. This is the wrong time for polarization. People need to come together. I’ve heard people call the President of the United States names that are just downright disrespectful and unfair. We have a right to disagree with public policy, but damn, let’s be respectful. Too much government? Well, when things go bad and are near the brink of disaster, that’s what government’s role should be–to step in. I’m quite sure that the government has better things to do than deal with servicing student loans.

The funniest thing about this article is that it talks about how MOHELA is going to lose out because of a government take-over of student loans when MOHELA itself is government-run (at a tidy profit, thank-you). Then, the ignorant masses start complaining about how the government take-over of student lending and health care will ruin them. Duh.

By the way, exactly how much “innovation” is there in originating and servicing student loans? That’s like saying a government takeover will prevent innovation in the production of rubber dogsh*t. Unfortunately, the “company line” doesn’t quite fit here.

The point of making healthcare and school loans public rather than private industries is that a great percentage of people believe that in a rich (and Christian) country such as ours, healthcare and education should be available to every citizen as they are basic necessities. The Founding Fathers believed that public education was necessary in order to maintain an informed electorate. So, if you’re a conservative, patriotic American, heed the call because ideas from 1776 are about as old-school as you can get.

My loans through Direct Loans have been much more reasonable to pay back. The interest rates are lower but not by much. What is the most helpful is that there is about the same amount of money that is paid toward principle as there is toward interest. This is a stark contrast to my private loans in which the majority of my payment goes toward interest.

And someone mentioned something about the government raising interest rates….The reason why we are in the financial crisis that we are in now is because the feds reduced the interest rates on a consistent basis. You want true capitalism and a free market? You would see much higher interest rates if the fed was not involved!

Good riddens! MOHELA charged me a USURIOUS interest rate whilst I was attending graduate school at Wash U in the 1990s. The federal government loans I was able to obtain were far less costly from a fee perspective as well as from a long term interest rate perspective. Why should a private company profit off my student loans? That’s like stating that the fire department should profit because my house burns down. Makes no sense.

Funny how the government investigates, hold hearings, and creates laws to make sure that private businesses do not become monopolies but they can just up and take over and entire industry without a second thought. Banking and autos were the first to go. Now they are after healthcare and student loans.

How about some facts for a change. History of Fed student loan program is:
started in 1965, Milton Friedman, the GOP economic guru recommended these be direct federal loans to students. Started that way. Changed to guaranteeing bank loans to students as a way to move it “off budget”. In 1992 Congress recreated the direct loan program as a side by side program at the urging of BUSH I. In 93 Clinton and Congress pushed to have 60% of loans be direct. 1994 Rebulican Congress tried to eliminate the direct loan program entirely, but Univesities and parents pushed back. In 2003 banks were found to be providing kickbacks and gifts to college staff who were pushing students to borrow from them…remember? (Bankers corrupting the use of a Federal program…hmmm, how novel is that?) I guess that’s why the Banks were ‘urging’ the GOP to eliminate the direct loan program. In 2008, Bush II started to give our taxpayer money directly to the banks to make loans to students…so, then we are paying the banks to use our money to give loans to students? DOES HIS MAKE SENSE? Obama is going back to the original Milton Friedman idea and saying…it is cheaper for taxpayers to make these loans direct than to subsidize banks to do so.

However, banks are TOTALLY FREE TO MAKE STUDENT LOANS…they just won’t be paid by us to do so, nor will we cover any “bad loans” they make.
It’s really pretty simple.