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1 KingKenrod  Fri, Apr 27, 2012 5:09:22pm

I paid 8% on my Stafford loans (taken out during the 90's), and this is to prevent rates from going to 6.8% on unsecured loans? Please. A $6 billion subsidy to this demographic (young, educated) seems like the wrong priority. Getting an unemployment/low earning forbearance on these loans is easy. Eventually these educated, above-average earners will be able to pay off their loans.

BTW, Democrats tried to raid the same preventive health fund earlier this year to support doctor's Medicare re-imbursements - another wealthy constituency.

2 (I Stand By What I Said Whatever It Was)  Fri, Apr 27, 2012 5:15:24pm
3 lawhawk  Fri, Apr 27, 2012 5:49:59pm

re: #1 KingKenrod

I too had to pay 8% on my Stafford student loans in the 90s, but to me, the bigger issue with student loans isn't the current interest rate that gets locked in, it's the fact that borrowers can't renegotiate the terms as with a mortgage. Once you're locked in, that's it. So, when interest rates dropped, you can't benefit - and the banks profit grows (regardless of what the subsidization is).

One way to deal with it is to cut/reduce the subsidy, but turn around and require banks to allow renegotiations/refinancing on student loans as with other long term loans. Allow them to charge a refinance fee (say $295), but allow the borrower to refinance to 10-20 years at the lower rates available (2-3 points over prime). That gets rid of the subsidies, but gives the borrower more freedom.

And for those who might be concerned when rates again rise, one could put in caps on the rates (which would in-turn become subsidies). However, it could mean significant savings for the foreseeable future - and reduce the debt burden for millions of students currently dealing with student loans and high interest rates.

4 moderatelyradicalliberal  Fri, Apr 27, 2012 7:14:23pm
In fact, preventative health care is something of a bargain since catching and treating ailments early can save money in the long run.

Not if it's your intention to let them die when they get really sick.

5 palomino  Sat, Apr 28, 2012 12:28:34am

But there's no GOP war on women, right?

6 Dark_Falcon  Sat, Apr 28, 2012 8:16:58am

re: #5 palomino

But there's no GOP war on women, right?

No, this is a general fund. It doesn't pay specifically for women's treatments. But any cut of a general fund hits women harder, because even childless women consume more healthcare services than men.


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