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Sun Jun 30, 2013, 10:09 AM

Sen. Warren’s Bill Gets Cold Shoulder as Student Loan Rates Spike Monday

by Lauren McCauley

Despite the groundswell of support behind Senator Elizabeth Warren’s (D-Mass.) popular student loan proposal, Senate leaders have dismissed the legislation opting instead to let student interest rates double Monday as they pack their bags for a Fourth of July holiday recess.

Because of Congressional inaction, students will be left in the lurch as federal Stafford loans spike to 6.8 percent.

The Warren bill proposes to tie student loan interest rates to the same “discounted rates” given to big banks from the Federal Reserve, lowering student loan rates to 0.75 percent and saving students thousands of dollars.

“We subsidize bankers whose excesses blew up the economy, why not subsidize kids struggling to pay for the education we say they need?” writes Robert Borosage. However, he adds that the legislators “dismiss the Warren proposal out of hand.”

With more support than any other proposal, petitions backing the bill have received over a million signatures and presidents from more than 25 colleges have backed the legislation. A recent poll conducted by Public Policy Polling found that 60 percent of respondents backed Warren’s idea, including 56 percent of Republicans.

However, despite the widespread popularity, the bill has been systematically ignored by Congress and has not yet come up for a vote.

more

http://sandiegofreepress.org/2013/06/sen-warrens-bill-gets-cold-shoulder-as-student-loan-rates-spike-monday/

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Reply Sen. Warren’s Bill Gets Cold Shoulder as Student Loan Rates Spike Monday (Original post)
n2doc Jun 2013 OP
Turbineguy Jun 2013 #1
Scuba Jun 2013 #2
msongs Jun 2013 #10
rhett o rick Jun 2013 #18
Triana Jun 2013 #3
nineteen50 Jun 2013 #4
Fire Walk With Me Jun 2013 #9
Patiod Jun 2013 #5
Zorra Jun 2013 #6
ZRT2209 Jun 2013 #7
dtom67 Jun 2013 #8
Ilsa Jun 2013 #15
Dustlawyer Jun 2013 #11
woo me with science Jun 2013 #12
xtraxritical Jun 2013 #14
fasttense Jun 2013 #13
reformist2 Jun 2013 #16
blackspade Jun 2013 #17
oldandhappy Jul 2013 #19
ananda Jul 2013 #20

Response to n2doc (Original post)

Sun Jun 30, 2013, 10:13 AM

1. The congress is not ignoring it.

The repubs are trying to invent a tax cut to pay for it.

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Response to n2doc (Original post)

Sun Jun 30, 2013, 10:19 AM

2. "... Senate leaders have dismissed the legislation ..."

 

We really, really need to wrest control of the Senate away from the Republicans.
















satire thingy here

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Response to Scuba (Reply #2)

Sun Jun 30, 2013, 12:01 PM

10. actually your statement is true - reid and obama have ceded majority control to the minority nt

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Response to msongs (Reply #10)

Sun Jun 30, 2013, 03:41 PM

18. Only if you think the conflict is between the D's and R's. I see it as the

 

majority is the bought and paid for corporitists like Reid. The minority includes the progressives like Sen Warren and a few others.

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Response to n2doc (Original post)

Sun Jun 30, 2013, 10:41 AM

3. If anyone on either side of the aisle thinks THIS is a gov't "of by and for"

 

the people, they are SADLY mistaken.

We have VERY FEW actual representatives in Washington - Elizabeth Warren, Bernie Sanders (who is an Indy, not even a Dem but does the work of THE PEOPLE), Alan Grayson - just so very few.

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Response to n2doc (Original post)

Sun Jun 30, 2013, 11:16 AM

4. Who receives the increased interest money?

sounds like a back door bailout.

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Response to nineteen50 (Reply #4)

Sun Jun 30, 2013, 11:47 AM

9. It's a profit gig. Check the web for stories on the people making all of this money

 

and enslaving the young with ludicrous debt.

Also, check out the Strike Debt Rolling Jubilee, an offshoot of Occupy Wall Street, who are using the debt system against itself, buying up bad debt for pennies on the dollar through donations, and forgiving it

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Response to n2doc (Original post)

Sun Jun 30, 2013, 11:27 AM

5. Those of us who have friends with kids college-age & older should keep this in mind

A great opportunity to point out to our Republican friends and family on FB and elsewhere that
1) Obama has been warning that Congress was going to let this happen
2) Elizabeth Warren is trying to help the situation
3) that this is 100% in the lap of the Republicans they love so dearly

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Response to n2doc (Original post)

Sun Jun 30, 2013, 11:30 AM

6. No surprise. An educated populace is a threat to the rule of wealthy private interests. Elizabeth

is one of the few Senators who is not owned by these private interests. You can expect her to be ignored and isolated by the compromised majority of both Democratic and Republican Senators as she continues to fight against the banksters for democracy and the 99%

"Above all things I hope the education of the common people will be attended to ; convinced that on their good sense we may rely with the most security for the preservation of a due degree of liberty."

"...wherever the people are well informed they can be trusted with their own government..."

"Every government degenerates when trusted to the rulers of the people alone. The people themselves, therefore, are its only safe depositories. And to render them safe, their minds must be improved to a certain degree."

"I think by far the most important bill in our whole code is that for the diffusion of knowledge among the people. No other sure foundation can be devised, for the preservation of freedom and happiness...Preach, my dear Sir, a crusade against ignorance; establish & improve the law for educating the common people. Let our countrymen know that the people alone can protect us against these evils [tyranny, oppression, etc.] and that the tax which will be paid for this purpose is not more than the thousandth part of what will be paid to kings, priests and nobles who will rise up among us if we leave the people in ignorance."

Quotes by Thomas Jefferson, founder of the Democratic Party

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Response to n2doc (Original post)

Sun Jun 30, 2013, 11:35 AM

7. GOP apparently not concerned with the youth vote

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Response to n2doc (Original post)

Sun Jun 30, 2013, 11:41 AM

8. debt = control...

, but don't blame the government; government is just a tool.

But who controls the Tool?

qui bono ?

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Response to dtom67 (Reply #8)

Sun Jun 30, 2013, 12:32 PM

15. Absolutely true. NT

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Response to n2doc (Original post)

Sun Jun 30, 2013, 12:04 PM

11. We need to take to the streets! College students are the most willing to do this!

Recently in Brazil, they had massive protest sparked by a hike in bus fares. We DO NOT have Representative government! We need to clean house and publicly fund elections! Lets vote out all of the corrupt, old career politicians that have sold us out b/c this shit has gotten way out of hand! Republicans and Democrats alike have gone in for corporate money and that is why they spy on us. They do not want to be surprised again by OWS! We are more corrupt than the worst 3rd world country.
Growing up I used to be proud that my country did not torture people, nor spy on its citizens, that was the Soviet Union. Now we are the world's Soviet Union! I am an American and I do not stand for what my country is doing. This is totally unacceptable! Who feels the same way?

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Response to n2doc (Original post)

Sun Jun 30, 2013, 12:07 PM

12. Of course rates are going up.


All this theater and angst about every single policy has become a sick charade at this point. The Plutonomy that runs this country gets everything they want now. They get this. They will get Keystone. They will get the Trans-Pacific.

We do not have a representative government anymore. Nothing coming out of this government has even remotely resembled what the people want for some time now.

And now the Constitution is being dismantled, and a spy apparatus that surpasses the capabilities of any previous totalitarian government is now in place.

And the propaganda machine is in place too, droning on that we have nothing to be upset about.

This is corporate fascism, come to call.

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Response to woo me with science (Reply #12)

Sun Jun 30, 2013, 12:31 PM

14. Russia has had many terrorist attacks and they don't do this.

 

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Response to n2doc (Original post)

Sun Jun 30, 2013, 12:26 PM

13. Indentured Servitude disguised as educational loans. n/t

 

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Response to n2doc (Original post)

Sun Jun 30, 2013, 12:51 PM

16. It's literally the least they could do for students, and they won't even do that.

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Response to n2doc (Original post)

Sun Jun 30, 2013, 03:37 PM

17. Typical

a popular program or idea goes under the congressional corporate bus.....

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Response to n2doc (Original post)

Mon Jul 1, 2013, 10:10 AM

19. Sad to say, this congress

does not care about people.

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Response to n2doc (Original post)

Mon Jul 1, 2013, 10:12 AM

20. All the Dems should be with her on this, 100%!

..

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