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@Bob & Sheldon,
You guys do realize that easily accessed, low interest rate, loans only serve to separate the item being purchased from its underlying intrinsic value, right? Remember the housing bubble?
Education is TOO EXPENSIVE. That problem needs to be addressed. Talk to the Federal Reserve about why medical care and education are not uncluded in measures of inflation.
Amen Bob - so-called small govermnment republicans had no problem with the crony old system of politically connected banks making all the profit and the taxpayers taking all the risks.
A lot of the current college students were in middle or high school 4 years ago, and may be much more vulnerable to idealistic message.
Despite what Speaker Boehner said yesterday, the budget proposal put forth by Congressman Paul Ryan, which is the official Republican position, still calls for the student loan interest rate to double to 6.8%.
Someone please mention that one of John Boehner's major sources of campaign cash used to be all the banks that serviced student loans. He had a vested interest in the old system that Obama eliminated.
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