Senator Elizabeth Warren (D-MA) has just introduced a new bill, the Bank on Students

[Mook]

Senator Elizabeth Warren (D-MA) has just introduced a new bill, the Bank on Students Loan Fairness Act, to offer student loans at the same rates that the Federal Reserve charges big banks through its discount window lending program. At the moment, that rate is about 0.75%. The rates on federally guaranteed student loans, meanwhile, is set to double to 6.8% this summer.

 

[88m3]

we shouldn't be paying at all

the whole system is stacked against young people

 

[Julius Skrrvin]

thats my hero

 

[Meta Reign]

Nice idea. Won't make it to the house floor (atleast not until it's watered down to nothing).

Such a move would effectively make the issuance of student loan asset backed securities yeildless. And we know Wall Street isn't having that.

 

[Lucky_Lefty]

Thank god for my GI Bill.....debt free w/ diploma >>>>>>>

 

[Jello Biafra]

I love this chick...if the Democratic Party could weed out the useless shytheads like Schumer, Reid, and their ilk and replace them with pols like Warren then I would actually become a Dem again.
This bill doesn't have a shot in hell of going anywhere though.

 

[The Real]

I love this chick...if the Democratic Party could weed out the useless shytheads like Schumer, Reid, and their ilk and replace them with pols like Warren then I would actually become a Dem again.
This bill doesn't have a shot in hell of going anywhere though.

Unlikely. The Dems are as much in the pocket of industry and money movers as the Repubs... just not the same interests. I don't think that means you shouldn't necessarily vote Dem, though.

 

[ExodusNirvana]

But won't this flood the market with skilled workers who wont have a job because the market doesn't have enough applicable jobs?

They should make it for STEM majors only since those are the jobs being outsourced right now, correct?

 

[Jello Biafra]

But won't this flood the market with skilled workers who wont have a job because the market doesn't have enough applicable jobs?

They should make it for STEM majors only since those are the jobs being outsourced right now, correct?

I don't see why this would flood the market withy skilled workers....with the current rate people are still going to school and taking out loans.
The only impact this would have on the market is that economically there would be more money freed up to buy things instead of college grads having no extra cash because their loan payments are so high.

 

[TLR Is Mental Poison]

But won't this flood the market with skilled workers who wont have a job because the market doesn't have enough applicable jobs?

They should make it for STEM majors only since those are the jobs being outsourced right now, correct?

Americans hate STEM.... u could give those degrees away and we would still have a shortage of candidates

The # of non-American vs American STEM female candidates is proof of this. We have a long way to go before we have to worry about "too many STEM grads"

STEM folks make their own jobs anyway.

 

[ugksam]

why the fukk is it so expensive to go to school though? that is the real issue, even without getting a loan and going into debt it is outrageously expensive.

 

[ExodusNirvana]

I don't see why this would flood the market withy skilled workers....with the current rate people are still going to school and taking out loans.
The only impact this would have on the market is that economically there would be more money freed up to buy things instead of college grads having no extra cash because their loan payments are so high.

The reason is anecdotal but I know alot of people don't and/or didnt do the whole school thing because its too expensive. With this it would make school a little more affordable and encourage even more people to higher education, even if its just a local community college.

They'd probably waste their student loan money on more dumb shyt but...

 

[Tommy Fits]

The reason is anecdotal but I know alot of people don't and/or didnt do the whole school thing because its too expensive. With this it would make school a little more affordable and encourage even more people to higher education, even if its just a local community college.

They'd probably waste their student loan money on more dumb shyt but...

I don't think it would be as big an increase as you would think. It's just a lower interest payment, it's not like you're receiving a free ride through college.

 

[newworldafro]

... I'm usually so so when it comes to Cenk's opinions....but he's spot on correct here...

The is Powerful Music ....

 

[Julius Skrrvin]

why the fukk is it so expensive to go to school though? that is the real issue, even without getting a loan and going into debt it is outrageously expensive.

It's basically a monopoly. You cant get a decent job without it (or so you're told), so they can artificially inflate the fukk out of it really as much as they want.