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Klobuchar, Franken give back-to-back student loan speeches

Democrats and Republicans generally agree that an extension of the lower student loan interest rate is necessary, but like so many other matters Congress has considered this session, they’re hung up on how to pay for it. Republicans favor instituting spending cuts (and passed a bill in the House two weeks ago to zero-out a component of President Obama’s health care reform law as a pay-for), while Democrats support closing certain tax loopholes, a funding mechanism included in the Senate bill Tuesday.

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Comments (2)

Why are student loans a source of funding for our government?

It hadn't occurred to me before reading a different article elsewhere, that the interest students pay on their government loans are a source of income to the government. So they want to allow the doubling of the rate strapped students are paying, while continuing to maintain the tax cuts to the already successful upper level taxpayers. And only back in the 90's, did they change the law so that students could not default on their student loans?

What has happened to the idea that it is in our national benefit to have a well educated workforce?
We have saddled our already bedeviled middle and working class, including many senior citizens who are having their Social Security raided by the government for non-payment of loans either for themselves, or that they have co-signed for their children and grandchildren. What the ......?

Seems to be the same idea behind the fact that overwhelming medicals bills can not be thus discharged either. But corporations have no problem getting out from under their mismanagement.... And they do not lose their home, etc. in the process

republicans choose to drive us further into the ground

this follows romney's ideaology that students can just ask their parents for the money or borrow it . maybe we can get them all to win 10,000.00 dollar bets to support their education . where do these people come from. lets make sure we issue a new mandate this november to let these brilliant republicans know what we need. that money could easily come from the romneys by closing a couple of loop holes and we could support other good american values.