Bad blood in Congress

Don’t expect bipartisan cooperation on higher education in the new Congress, Hill staffers and American Enterprise Institute analysts say. There’s a lot of bad blood.

Also on Community College Spotlight:  In an experiment at three Ohio community colleges, paying low-income parents for grades of C or better raised the pass rate.

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Comments

  1. Cardinal Fang says:

    In my new, non-ranting mode (who knew we weren’t supposed to rant here?) I quote the last line of the article, “Republicans strongly opposed the government takeover of student loans” and ask why Republicans opposed the government taking over the loaning of the government’s money.

    Obviously, the banks liked playing with the house’s money, but why would the rest of us want to let them do it?

  2. Student lenders have been told who to lend to, what rates to lend at, how to recoup the funds, and a rife of other rules, the concession was that they received federal backing. Changing the rules so that they all have to compete in the private market would have been a far preferable option to full government takeover, but that’s the modus operandi of most liberals so there you have it.

  3. Cardinal Fang says:

    Nothing is preventing banks from giving loans to parents and students to pay for college. Before this change, plenty of parents took out private loans for college tuition, and after the change, plenty of parents are still taking out private loans for college tuition. If I wanted a loan to pay my son’s college tuition, I could walk into a private bank tomorrow and get one.

    But why should a bank be allowed to make risk-free loans, backed by the full faith and credit of the United States government, and collect interest and fees on those loans? That’s ridiculous. Let banks loan out their own money and take their own risks.

  4. Cardinal –
    But that is exactly how our mortgage system has been functioning with FHA mortgages. That didn’t go too bad now, did it?
    Can’t wait until Obama’s policies cause the student loan market to do the same that Clinton’s policies did to home loans. I don’t know how big the student loan market is compared to home loans, but I wouldn’t be surprised if it is much larger given that many college educations cost more than a home.

  5. SuperSub, your “understanding” of the mortgage crisis is complete bs, based on Republican lies.

  6. Actually, my understanding lies with my father, a lifelong federal employee in the Dept of HUD who, along with a large group of other district office managers, campaigned unsuccessfully against relaxing of lending rules by the Clinton administration. They filed a report detailing the reasoning for the existing lending rules and explained the dangers of the changes, one of which was the implosion of the housing market. The report was ignored.