Stoltz of Coudersport

E & G Auto Plus

Howard's Inc, Coudersport, PA

xxx

xxx

Do You Know: You can buy this marquee ad on Solomon's words for the wise for your business or event for only $10. per day! It's just one of the low cost advertising options available. Your ad is viewed 40,000 to 70,000 times every day. Email us for information on other ad locations.

Solomon's Auction & Yard Sale Page

UPMC Cole Healthy Holidays

UPMC Cole Healthy Holidays

UPMC Cole

Thursday, June 6, 2013

Thompson: Senate and White House must stop playing politics with student loans and pass a long-term fix

Thompson: Senate and White House must stop playing politics with student loans and pass a long-term fix 

Washington, D.C. – On May 23, 2013, the House of Representatives passed H.R. 1911, the Smarter Solutions for Students Act, a bill based on the President’s 2014 budget request that would provide a market-based variable interest rate for federal student loans. Today the Senate voted down two separate loan proposals, one of which was similar to H.R. 1911. Absent congressional action, loan rates are scheduled to skyrocket from 3.4% to 6.8% on July 1, 2013. U.S. Representative Glenn ‘GT’ Thompson issued the following statement:  

“The House passed a bipartisan proposal which draws on the President’s request for a market based solution to student loan rates. Rather than encouraging the Senate to join the House in a good-faith effort, the President chose politics over students and threatened a veto, for a solution that is based on his own proposal. Students and their families deserve certainty, what they do not deserve is to be used as political pawns by the President. The Senate’s failure to advance a responsible plan that serves the best interests of borrowers and taxpayers is absolutely unacceptable. We can prevent this rate hike and protect taxpayers, but we need the President to start leading and the Senate to stop politicking and pass a bill.”

7 comments :

Anonymous said...

GT Thompson is full of crap. The whole argument revolves around 2 issues. The first issue is should rates be market based or the set by the government. The 2nd issue is should the rates be fixed or variable over the life of the loans. The bill passed through the house is market based(which is a higher rate than the current rate ) and variable(meaning you uncertainty so you don't know what the rate will be next year) Seeing how the current rates are really low right now, it is almost guaranteed that it will be higher. Seeing how this is an area where most families can not afford college without loans the Republican solutions is horrible for local families Also remember that student loans do not cost the tax payer anything(they actually make money for the government) and you can default on them.

Anonymous said...

How about helping people with private loans and force these private lenders to to offer income based repayment. I can barely make ends meet because the lenders who own my private loans make my payments outrageously high and they refuse to work with you at all.

Anonymous said...

How about get a job pay your bills and quit depending on the government for a(mainly democrat) handout!

Anonymous said...

You decided to go to college and major in : any art, womans studies, liberal arts, sociology, drama, dance. Now you cant find a job in these "fields" (shocker) and you cant pay your student loans. This is called poor planning on your part. You reap what you sow and crying about it isnt going to pay the bills nor get me to pay it for you. Grow up children....

Anonymous said...

How exactly is a student taking out a loan for college in any way asking YOU to pay for it. The student has to re-pay it. That's why they call it a loan DUH! Sounds like you are jealous that somebody wants to better themselves and be a productive member of society and a future tax payer. We should all encourage people to go to college not put impossible road blocks in their way.

Anonymous said...

Last time i checked 3:10 taxpayers pay the senates salary. A senate that is currently debating student loans rather than what the should be working on (which is an entirely different argument of course) I agree with 2:50. You got the loan, you pay it. They didnt read the fine print? Looks like they should have paid for a reading comprehension course too.

Anonymous said...

I'd sure like to know why a banker can dump billions of dollars off as a loss and no one blinks an eye

but a citizen with student loan debt beyond their ability to pay can't declare bankruptcy.

Corporations have more rights than citizens do. Bankers can play god but you? What's that? You tried to better yourself and can't pay off the debt? TOO BAD, back to work slave, this debt is yours for life and we'll chase down your family for it after you die.

I wish I'd been born as a corporation.