boutons_deux
03-22-2010, 10:43 AM
Student Loan Bill Poised to Pass in Health Vote
By DAVID M. HERSZENHORN
WASHINGTON — Along with the major health care legislation, the House on Sunday approved a major revamping of federal student loan programs that eliminates fees paid to private banks to act as intermediaries.
Instead, the government will expand a direct lending program, a step that the Congressional Budget Office said would save taxpayers $61 billion over 10 years, and use the money to increase Pell grants for students.
The student loan bill is a centerpiece of President Obama’s education agenda, and it was included in the budget reconciliation measure that also made final revisions to the Senate-passed health care bill.
http://www.nytimes.com/2010/03/22/education/22pell.html?hpw=&pagewanted=print
=================
Cutting back on Pell grants was yet another fuck-the-poor program of "deficit reduction" by Repugs. As if investing in education of the citizenry was worthless. (actually, the Repugs depend on ignorant Americans (eg, ST winguts) for their support, so there was method in the Repug meanness)
They also handed the student loan business to banks, with the gov doing all the work and guaranteeing the loans, so that the banks did nothing but pocket the interest risk free, which interest was of course higher than if the govt made the loans directly to the students.
Another business-friendly/fuck-the-citizens "privatization" scheme by the slimebag Repugs.
By DAVID M. HERSZENHORN
WASHINGTON — Along with the major health care legislation, the House on Sunday approved a major revamping of federal student loan programs that eliminates fees paid to private banks to act as intermediaries.
Instead, the government will expand a direct lending program, a step that the Congressional Budget Office said would save taxpayers $61 billion over 10 years, and use the money to increase Pell grants for students.
The student loan bill is a centerpiece of President Obama’s education agenda, and it was included in the budget reconciliation measure that also made final revisions to the Senate-passed health care bill.
http://www.nytimes.com/2010/03/22/education/22pell.html?hpw=&pagewanted=print
=================
Cutting back on Pell grants was yet another fuck-the-poor program of "deficit reduction" by Repugs. As if investing in education of the citizenry was worthless. (actually, the Repugs depend on ignorant Americans (eg, ST winguts) for their support, so there was method in the Repug meanness)
They also handed the student loan business to banks, with the gov doing all the work and guaranteeing the loans, so that the banks did nothing but pocket the interest risk free, which interest was of course higher than if the govt made the loans directly to the students.
Another business-friendly/fuck-the-citizens "privatization" scheme by the slimebag Repugs.