RSN Fundraising Banner
FB Share
Email This Page
add comment
Print

Warren writes: "We should not go along with any plan that demands that our students continue to produce huge profits for our government. Making billions and billions in profits off the backs of students is obscene."

Sen. Elizabeth Warren testifies during a hearing on Capitol Hill about the Consumer Financial Protection Agency. (photo: Joshua Roberts/Bloomberg)
Sen. Elizabeth Warren testifies during a hearing on Capitol Hill about the Consumer Financial Protection Agency. (photo: Joshua Roberts/Bloomberg)


The Whole System Stinks

By Elizabeth Warren, ElizabethWarren.com

23 July 13

 

've spent years fighting back against credit card companies that put out zero-interest teaser rate cards, planning to jack up the price later and make all their profits in the fine print.

I also fought back against teaser rate mortgages that promised low payments in the first few years, but then shot up to rates that pushed millions of families into foreclosure.

So it's shocking to me that the United States Senate would offer its own teaser rate for our student loan system - a system that is scheduled to make more than $184 billion in profits over the next ten years. That's not the business the United States government should be in.

We had a majority in the Senate to keep student interest rates low, but because of Republican filibusters, the interest rate on federally subsidized student loans jumped from 3.4% to 6.8% on July 1st. Instead of restoring that 3.4% rate, a new so-called "compromise" plan on the table raises the interest rate on those loans this year to 3.86% for undergraduate students, and 5.41% for graduate students in 2013.

And then it gets worse. The plan is set up to collect higher interest rates in future years. After just 24 months, the rate jumps above 6.8% for graduate students. Within a few years, rates for all loans will be higher than if Congress does nothing - and some could climb as high as 10.5%. Even worse, with the federal government already making billions in profits off these programs, the "compromise" plan is set up to actually increase those profits by hundreds of millions of dollars more.

I can't support a proposal that squeezes even more profits out of our kids, while millionaires and billionaires still don't pay their fair share. This is a bad deal.

Senator Jack Reed has offered an amendment that is a true compromise: let rates move with the market, but set a cap on student loan interest rates at their current rates. I am proud to cosponsor that amendment. It's the only way to ensure that students don't end up paying more than they would if Congress does nothing.

In the end, this is a simple math problem.

If Republicans insist that we continue to make the same $184 billion in profit off of the student loan program, that just means that students in future years will have to pay higher rates to make up the difference.

I don't believe in pitting our kids against each other. In fact, I think this whole system stinks.

We should not go along with any plan that demands that our students continue to produce huge profits for our government. Making billions and billions in profits off the backs of students is obscene.

Senator Jack Reed's amendment is the only plan on the table right now that guarantees student loan interest rates won't skyrocket above their current levels. We need to pass this amendment for our kids and grandkids.

I appreciate the hard work that my colleagues have done to try to defeat the Republican filibuster so that we can keep student loan rates low.

But our students are drowning under a trillion dollars in student loan debt. We need to start now with one basic principle: cut government profits on student loans. I can't support a deal that actually increases those profits.

e-max.it: your social media marketing partner
 

Comments   

A note of caution regarding our comment sections:

For months a stream of media reports have warned of coordinated propaganda efforts targeting political websites based in the U.S., particularly in the run-up to the 2016 presidential election.

We too were alarmed at the patterns we were, and still are, seeing. It is clear that the provocateurs are far more savvy, disciplined, and purposeful than anything we have ever experienced before.

It is also clear that we still have elements of the same activity in our article discussion forums at this time.

We have hosted and encouraged reader expression since the turn of the century. The comments of our readers are the most vibrant, best-used interactive feature at Reader Supported News. Accordingly, we are strongly resistant to interrupting those services.

It is, however, important to note that in all likelihood hardened operatives are attempting to shape the dialog our community seeks to engage in.

Adapt and overcome.

Marc Ash
Founder, Reader Supported News

 
+113 # MainStreetMentor 2013-07-23 10:58
You've got my vote, Senator Warren. I'll contact my senators and tell them I would like them to support Senator Reed's amendment. I'll urge others to contact their senators, too. I'll support Anything you do in the Senate, Senator Warren.
 
 
+48 # 666 2013-07-23 16:18
how 'bout bailing out the students and tax the banks to do it.
 
 
+11 # George D 2013-07-25 14:14
I've been a fan of Elizabeth Warren from the first time I heard her speak. How about this? Why does the first Woman president have to be a Clinton? Why not a Warren?

I didn't vote for Hillary before and I may not again. I like her well enough; I just don't trust her. And at the end of the day, you need to be able to at least TRUST the person you are voting for.

Elizabeth Warren in 2016. Think about it :-)
 
 
0 # Eldon J. Bloedorn 2013-07-25 19:22
I like Elizabeth Warren. Contributed to her campaign. Yet, I'm so sad to hear her say, "So, it's shocking to me............. ......." What is shocking about Capitalism? Capitalists do not eat their fellow man bodily, they eat their fellow man financially. When "we" are longer "shocked," nieve, we wake up to the real world.
 
 
+20 # grouchy 2013-07-23 12:06
In more common and accurate terms, IT SUCKS!
 
 
+21 # Joe Bob 2013-07-23 15:23
And the Banks continue to pay nothing
 
 
+38 # Rich Austin 2013-07-23 12:11
Look, I'm an admirer of Senator Warren, but really...here we go again! Another "compromise" that winds up hurting ONLY working class families? Oh, no!

Every compromise with the Tea Party GOP emboldens those sociopaths, damages Main Street America, and move us further to the right.

The 99% will continue being screwed unless it has the guts to act in unison in its own behalf. A strategy may include rolling general strikes.
 
 
+15 # Working Class 2013-07-23 18:13
Quoting Rich Austin:
Look, I'm an admirer of Senator Warren, but really...here we go again! Another "compromise" that winds up hurting ONLY working class families? Oh, no!

Every compromise with the Tea Party GOP emboldens those sociopaths, damages Main Street America, and move us further to the right.

The 99% will continue being screwed unless it has the guts to act in unison in its own behalf. A strategy may include rolling general strikes.

You tell it like it is Rich. An old Union Rep once told me you never want to get in a pissing match with a skunk. The skunks on the right need to driven out of town. Only then will the average voter be able to talk about Congress without holding our nose
 
 
+3 # kochadoodledoo 2013-07-24 06:20
Another "compromise" that winds up hurting ONLY working class families? I did not read that in the article. Would you please explain?
 
 
+45 # randrjwr 2013-07-23 12:20
I also stand with Senator Warren and will urge my Senators to support the Reed amendment. But, why should the government make any profit on student loans? Why not a base rate to cover the costs of creating and managing a loan, then index that rate for inflation? Our objective is to prepare OUR youth for productive, well-paying jobs so that they can help move our country forward while becoming consumers and taxpayers. Then the whole country profits.
 
 
+15 # Joe Bob 2013-07-23 15:24
Yeah, Dream on.... the greed monster in Washington DC needs it's tithe. And the Banks still pay nutin.
 
 
+4 # Charles3000 2013-07-24 05:28
Quoting Joe Bob:
Yeah, Dream on.... the greed monster in Washington DC needs it's tithe. And the Banks still pay nutin.

What banks "pay" is a lot better than "nutin"; the banks buy $100 bills from the US Treasury for 9.7 cents each. Now isn't that better than "nutin!"
 
 
+5 # kochadoodledoo 2013-07-24 06:22
Republicans do not want the whole country to profit--only THE WEALTHY, a great deal of whose wealth is INHERITED--ther efore, why would they want the whole country educated?
 
 
-41 # Maturus 2013-07-23 12:40
I take it that the $184 billion profit is on the basis that all students repay their loans? The reality is that they won't. Like credit cards, the people who pay back their loan will be paying for the loans of those who don't/can't pay them back. If the successful students aren't going to pay for the defaulters, who is? I'm sure Senator Warren has an answer and I'd really like to hear it.
 
 
+29 # dkonstruction 2013-07-23 13:32
Quoting Maturus:
I take it that the $184 billion profit is on the basis that all students repay their loans? The reality is that they won't. Like credit cards, the people who pay back their loan will be paying for the loans of those who don't/can't pay them back. If the successful students aren't going to pay for the defaulters, who is? I'm sure Senator Warren has an answer and I'd really like to hear it.


College graduates earn significantly higher incomes than those without a college degree. They then pay taxes on that income. Thus the gov't gets back their "investment" and then some. Higher education should be free as it is in virtually every other advanced capitalist nation. Even the bill proposed by Warren and Reed is a compromise since it is does not promote free higher education which is what we need in this country. Investing in our kids/young people is one of the best "investments" any country can make in its future (not to mention it is the moral and right thing to do). If you're worried about "loans" being paid back how back the trillions we are "loaning" to the banks at virtually 0% percent interest much of it which they then used to buy gov't debt (i.e., US Treasuries) which then pays them an even higher rate of return. Time to go after those who aren't the giant corporations that aren't paying taxes and stop going after students and others at the bottom that are just trying to get by and stay afloat.
 
 
+3 # Maturus 2013-07-23 15:55
That's my point - the interest rate on the loans is a symptom of the problem that politicians won't face. The debate should be about how society can pay to provide further education to a cadre, based on ability rather than background, who will benefit from the investment while providing proper training within corporations for everyone else.
 
 
-8 # RLF 2013-07-23 17:02
We have to keep people in the lower classes because they are the ones that pay taxes? Is that your point? I have a bit of a felling like this may wake up the students who mostly seem to be partying their way through school when they are not playing video games.
 
 
+22 # cvahr2 2013-07-23 14:30
In 2003 the default rate on student loans was 4.5%. As interest rates on student loans increased, the default rate did as well. It was 7% 2008, 9.1% in 2010 and is projected to be 13.1% in 2013.
The interesting thing about student loans is that approximately 90% of the defaulted amounts owed are recovered. This is because they NEVER go away. You can't discharge them as part of declaring bankruptcy. Your wages are garnished, federal and state income tax refunds (and any other federal/state monies) are withheld. Professional licenses (e.g., cosmetology, real estate, medical) can also be withheld. And it is a huge black mark on your credit rating.
Other than that, defaulting on student loans is no big deal.
The two most frequent reasons for defaulting on student loans are not being able to find a job or having a job that doesn’t pay enough to cover the monthly loan payments…it is not because the majority of students don’t take repayment seriously. Raising interest rates is not the answer!
 
 
-16 # Maturus 2013-07-23 15:58
Your last paragraph is the crux of the problem - too many unsuitable you g people are being pushed into unnecessary courses which have no positive impact on their life outcomes. Restrict entry as suggested above and channels everyone else into meaningful employment with training provided by employers. As it is, your left with my question which still needs to answered!
 
 
+13 # RLF 2013-07-23 17:05
You mean no more art, no more literature, all of the things that create dynamic thinkers and not just automatons? Change the schools to medicine, law, engineering, and business. nothing else...sounds perfect...get rid of all of the things that separate us from animals and keep things bread and water. Work will set you free.
 
 
-8 # Maturus 2013-07-23 19:58
How do arrive at that? You seem to lack the imagination to see beyond your pre-programmed mantra. The working class has been betrayed by your middle-class theft of opportunity. Believe it or not, your children and grand-children do not have a God-given right to not fail so let them prove themselves in a fair competition.
 
 
+2 # kochadoodledoo 2013-07-24 06:50
Oops, I meant to give you a thumbs down. Here is what William Ellery Channing said about work: "Manual labor is a school in which men are placed to get energy of purpose and character...a vastly more important endowment than all the learning of all other schools...labor has great dignity. It is not merely the grand instrument by which the earth is overspread with fruitfulness and beauty, and the ocean subdued, and matter wrought into innumerable forms for comfort and ornament. Its far higher function is to give force to the will, efficiency, courage, the capacity of endurance, and of persevering devotion to far-reaching plans...Alas, for the man who has not learned to work! He is a poor creature. He does not know himself. He depends on others, with no capacity of making returns for the support they give...the division of labor, which distinguishes civilized from savage life, and to which we owe chiefly the perfection of the arts, tends to dwarf the intellectual powers, by confining the activity of the individual to a narrow range." Compared to the savage who "has his faculties sharpened by various occupations, and by exposure to various perils, the civilized man treads a monotonous, stupefying round of unthinking toil." Channing felt that the general disposition to shun labor "generates excessive competition which of necessity generates fraud...trade is turned to gambling...the spirit of mad speculation exposes public and private interests to a disastrous instability."
 
 
+19 # nancyw 2013-07-23 17:01
I know someone who has not been able to pay back her loan and after all these decades, it has grown so much, she can never ever begin to pay... if she does, then all her wages would be garnished and because of that, she doesn't keep a job that has reportable income. She has to stay hidden because there is no one to help her and that includes our government. She is an asset to our society, doing noble and great work and yet she will die in poverty. Maturus, you sound as if the students are being irresponsible not paying back their loan. If they could, they would. Who wants to live under the table - can't have a bank account, can't have a credit card, can't get a good paying job - even tho her skills are superb. If she had a family with money to help her, she would pay it back. Lucky if you have someone to help you.

Free education for all and student debt pardoned!
 
 
-4 # Maturus 2013-07-24 06:42
It's not the students it's the middle-class con-trick that decreed that a college education was required by everyone hoping for a 'good' job. The taxpayer should pay for a cadre of youth to follow a course of further education but this cadre should be selected by their ability not their background or their parents' income. Corporations should recruit and train young people for the the bulk of jobs which do not, in reality, require an educational degree. The person you know is not alone in being defrauded by the system - in the UK some 40% of students who start at college either drop out before the end of the course or, having graduated, never get a graduate-level job. The 60% who graduate into suitable jobs are saddled with a debt which includes an element to pay for the 40%.
 
 
+4 # kochadoodledoo 2013-07-24 06:53
"Free education for all and student debt pardoned!" I'm with you, Nancy!
 
 
+3 # Phlippinout 2013-07-23 19:17
Sounds like a "NOT ON OUR BACK" rant. WAH WAH WAH
 
 
-2 # Maturus 2013-07-24 06:43
Open your eyes and mind.
 
 
+11 # James Marcus 2013-07-23 12:40
When Selfishness prevails (Legally, or...not), and Integrity is undermined/Abse nt, Every System Stinks!
Hint: it ain't 'The System'.
It's The Operators!!
 
 
+21 # Margolicious 2013-07-23 12:41
Thank God that Warren got elected. I am so happy that I campaigned and financially supported her. We should not fleece students with outrageous student loan rates. The "repukeicans" and their student loan system and economic policies stink. When is the American public going to wise up and get their asses as well as some of those rotten Dems out of office.
 
 
+21 # dick 2013-07-23 12:46
The whole idea is to reduce competition from bright middle class kids for not so bright rich kids. What happened to the "conservative" love of competition. Like John D. Rockefeller said, "Any capitalist in his right mind seeks MONOPOLY."
 
 
+4 # Susan1989 2013-07-23 12:55
I will do the same...
 
 
+13 # jwb110 2013-07-23 13:17
The GOP doesn't invest in its citizens or its country. They invest in the very businesses that own them.
 
 
0 # rowbyrd 2013-07-23 14:39
Just maybe this will wake up the marginal students from buying into an overpriced education in the first place. There are to many graduates with tens of thousands of dollars of debt and no job. We need caprpenters, plumbers and electricians just as much as we need middle managers and they will come out ahead with no student debt.
 
 
+13 # Regina 2013-07-23 15:58
Don't tell the kid who wants to be a doctor or a rocket scientist to settle for being a carpenter (if male) or a clerk (if female). That was the mantra in the 1930's Depression -- but in those days some colleges were FREE (notably in NYC, where subway fare was a nickel per trip). We need to get rid of the marginal legislators who are so busy trying to make Obama fail that they can't get down to the real work of developing jobs in sectors that could create them with intelligent legislation.
 
 
+4 # RLF 2013-07-23 17:07
Or the really smart kids that want to be arts...and I'm not talking about the lazy ones that do it because its 'easy'.
 
 
-6 # kochadoodledoo 2013-07-24 06:58
How many artists do you know who are not elitists or wanna-be elitists who look down on laborers?
 
 
+5 # BeaDeeBunker 2013-07-24 23:10
Quoting kochadoodledoo:
How many artists do you know who are not elitists or wanna-be elitists who look down on laborers?


That's a simple question to answer. It's a simple mathematical question. Let's assign the letter 'n' to represent the number of artists in the world. The answer to your question as to how many artists do I know who are NOT elitists or wanna-be elitists who look down on laborers is n.
An artist is an artist because they have to be an artist in order to live a meaningful life. An elitist is an elitist because they don't have the talent or the guts to be an artist.
No artist becomes an artist in order to make a living; they become an artist in order to make a life worth living.
 
 
+11 # Phlippinout 2013-07-23 19:30
Excuse your sexism, but as a woman carpenter I can tell you that working in the trades in the US is a thankless job. It used to be a proud profession , then the cheap labor looked better to the US citizen who decided we dont need no stinkin unions, now we are back to working weekends, holidays no benefits and mostly self employed because here in the south there is no pride in labor any more. Its a job for peons and by God youre treated as one too. The American public, is a pain in the ass, they want you to be well trained, give good service and work for ten or less an hour. No way was I taking my training from the north and giving it for free in the south where they cant be bothered to train their forces. Now a days, if you work hard on a job site and do everything you should, you might get to be a lead for 12 an hour, but mostly they work you until you quit. If you are going to be in the trades do electrical, plumbing, refrigeration, get trained in the north and stay there!
 
 
0 # kochadoodledoo 2013-07-24 07:09
I hope you saw my excerpt from William Ellery Channing's essay entitled, "On the Elevation of the Laboring Classes,"...the most numerous class of our fellow beings...Manual toil is the true discipline of a man...elevation of the laboring mass doesn't mean release from labor or efforts to force themselves into the upper ranks of society but rather an inward and real change leading to substantial improvements and real claims to respect." Phlippinout, I salute and respect you and hope you get the pay you deserve for your labor.
 
 
+1 # Maturus 2013-07-23 16:00
This is what a responsible politician should be saying instead of working on gaining brownie points by focusing on the negative symptoms of the current system.
 
 
+4 # kochadoodledoo 2013-07-24 06:56
Even carpenters, plumbers, and electricians need training, so I repeat NancyW's statement: "Free education for all and student debt pardoned!"
 
 
0 # barbaratodish 2013-07-23 15:22
Elizabeth Warren MUST have been one of the 156,000 (approx) people that have read an rsn article written about student loans. However a spokesperson for rsn says that the #'s are mistaken, though, so maybe it is millions who have read this article: lolhttp://reade rsupportednews. org/pm-section/ 256-justice/923 3-instead-of-si gning-pledges-t o-refuse-to-pay -student-loans- join-a-class-ac tion-f-law-suit -to-demand-all- university-coll ege-etctuition- back-with-inter est
 
 
+2 # barbaratodish 2013-07-23 17:03
[quote name="barbarato dish"]Elizabeth Warren MUST have been one of the 156,000 (approx) people that have read an rsn article written about student loans. However a spokesperson for rsn says that the #'s are mistaken, though, so maybe it is millions who have read this article: lol
Correct (?) link to the article about student loans that MAY have informed Elizabeth Warren
http://readersupportednews.org/pm-section/256-justice/9233-instead-of-signing-pledges-to-refuse-to-pay-student-loans-join-a-class-action-f-law-suit-to-demand-all-university-college-etctuition-back-with-interest
 
 
+12 # Vardoz 2013-07-23 15:43
As coporations insist on outsourcing jobs for cheap labor and insist on a policy of low wages when they know that our ability to spend is essential to a good economy, they are breaking down our educational and economic system so that we as a people cannot and will not prosper. Cities across the nation are being starved of funds as billions go to the top. These corporations along with the US Chamber of Commerce and the military, banks and Wall St and our so called reps have no interest in a successful Democratic system that uplifts the entire nation. In fact it is the opposite, they are aggressively working to destroy anything that might lead to success for us and our future. Warren is so right - it stinks big time. we are being screwed.
 
 
+6 # kochadoodledoo 2013-07-24 07:12
To uplift the entire nation, the wealthiest Americans, those who benefit most from our laws, our economic system, and our blood, sweat, and tears, need to pay their FAIR SHARE in taxes.
 
 
+16 # robroy 2013-07-23 16:05
how about a bumper sticker.."rePig lican, the other white meat"
 
 
+3 # Phlippinout 2013-07-23 19:31
I WANT ONE!
 
 
0 # kochadoodledoo 2013-07-24 07:13
Or how about "rotten white meat?"
 
 
+17 # robroy 2013-07-23 16:10
In Germany university is free, if you can test in. Otherwise it is trade school track...also free. We are closing primary and secondary schools and raising prices on higher ed in response to "the recession." How short sighted is that? Unbelievable. Pubs and and dirty Demos alike vote on this, state and federal level. Who is driving?
 
 
+10 # Nominae 2013-07-23 21:51
Quoting robroy:
...... Who is driving?


Who is driving ? Seriously ? Can we all spell:

G-l-o-b-a-l B-a-n-k-s and
G-l-o-b-a-l C-o-r-p-o-r-a-t -i-o-n-s ?

Thank you, Class.
 
 
-2 # Maturus 2013-07-24 06:47
Robroy, Germany has a far lower participation in further education but its industry recruits young people and trains them. 'Education' is for life, 'Training' is for a job. Too much 'further education' these days fails to understand the distinction.
 
 
+15 # seeuingoa 2013-07-23 16:19
"The whole system stinks"

that´s why we don´t want "small" talk
we want you and Bernie on the ticket
for 2016.
 
 
-1 # kochadoodledoo 2013-07-24 07:15
Agree. I just don't think Hillary is the answer.
 
 
0 # da gaf 2013-07-23 21:13
LUNATICS IN THE GOVERNMENT..SO WHAT IS NEW?-LUNATICS SELECT LUNATICS..COULD IT BE OUR SOCIETY THAT POISONS AND CONDITIONS ALL CHILDREN?..AND OF COURSE THE MEDIA DOES THEIR PROPAGANDA AS THE CHILDREN GROW UP TO ADULTS.
 
 
+1 # Nominae 2013-07-23 21:53
Quoting da gaf:
LUNATICS IN THE GOVERNMENT..SO WHAT IS NEW?-LUNATICS SELECT LUNATICS..COULD IT BE OUR SOCIETY THAT POISONS AND CONDITIONS ALL CHILDREN?..AND OF COURSE THE MEDIA DOES THEIR PROPAGANDA AS THE CHILDREN GROW UP TO ADULTS.


Dear Mr./Ms. da gaf,

I see that your caps lock release key is still broken. Can we help you out by taking up a donation ?

All the best .....
 
 
-1 # kochadoodledoo 2013-07-24 07:19
Mr. or Ms. da gaf has the right to use all caps if he or she chooses. WHY IS IT THAT IT OFFENDS YOU SO?
 
 
-1 # kochadoodledoo 2013-07-24 07:17
Poisons the minds and the bodies of our children. Look at what is sold as "food" these days. Pitiful.
 
 
+3 # kalpal 2013-07-24 04:32
It is imperative for Republicans to punish the poor and coddle the rich. That is the intent behind the interest rate boondoggle.
 
 
+3 # oakes721 2013-07-24 06:49
SABOTAGE is the word we've been avoiding. From funding endless wars and "studies" of, instead of solutions ~ It is the PROCESS, the DELAYS which themselves have been corrupted into being the most profitable. Presently, we are all being 'reprocessed' downwardly, against the interests of the people and the country. Like processed foods, where the wholesome goodness has been removed to make it more shelf-worthy, we are being emptied of our nutritional value (potential contribution) to the world.

The blatant thievery and pillaging does not profit our country, but opens new wounds ~ from which we are to be bled.

God love Elizabeth Warren and anyone who speaks plainly through the din of the thieves babbling froth and double talk.
 
 
+4 # Walter J Smith 2013-07-24 07:45
"In the end, this is a simple math problem."

Yep. Neither the Democrats nor the Republicans care one whit about the students, or for the national integrity.

They waste decades haggling over how to chisel whom and for how much.

Then they give upwards of 90% of the US Government's income to the world's worst corporate criminals.

It's a simple math problem.

We keep putting in those math-challenged politicians from the Democratic & Republican parties; they keep stealing from us all and our grandchildren.
 
 
+4 # BeaDeeBunker 2013-07-24 23:45
There are a lot of commentators who are suggesting that higher education should be free, as if this is a new idea. It is not a new idea. In fact it was such a good idea that the 'masters' feared such a policy. My concern is what and who and how they did it; get rid of it that is. I went to one of the best universities in the country for free, just based on my high school average. This was at a time when the highest Federal income tax rate was 90%, and not many rich people were complaining. The lowest interest rate, compounded daily, on the simplest savings account was 4.5%! Try to find a bank that gives that kind of rate on a basic savings account. I get .25% on one account, and it's fun to review the monthly statements and see that my 2 cents interest earned that month has been properly added to my balance! Real fun. I keep a minimum amount in this account, because it is convenient and has good hours, but seriously, .25%!

What happened, and how did they do it?
 
 
+1 # mjc 2013-07-25 09:26
"Stinks", stupid, "SUCKS", as per Grouchy but primarily encourages colleges and universities to continue to drive up the cost of THEIR education and ensures that very few of the gifted young people in this country will ever have any chance to go the very best institutions of higher education. The banks are not in need of higher interest rates because they need the funds so one has to wonder what their real interest is in maintaining such high loan rates.
 
 
0 # William Wagner 2013-07-26 12:07
For all use liberals who want free college education - who the f... is going to pay for this. You should try living in Massachusetts where these crooks tied their pay increased to the cost of living along with gas tax increases. No blame for raising taxes here - it was the cost of living. I'm glad I'm old enough where I won't see this problem fixed cause I don't think the citizens of this country are going to like the fix.
 

THE NEW STREAMLINED RSN LOGIN PROCESS: Register once, then login and you are ready to comment. All you need is a Username and a Password of your choosing and you are free to comment whenever you like! Welcome to the Reader Supported News community.

RSNRSN