Quote:
Originally Posted by Munchkin03
I thought the first post was kind of insane.
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Well yeah.. call me a cynic and all, but in the eyes of legislators, a fundamental reality which can always be counted on can be summed up like this:
Students and their finances < the bottom lines of banks
I'll concede that banks should get to make a decent profit on these loans, but I also think the profit shouldn't be more than a point or two above prime. Why is this? Subsidized loans are not bankruptable. In other words, these loans, particularly to doctors, lawyers and other money-making degree-holders have damn near zero risk and are generally, over the long haul, free money to the bank which can absolutely be counted on.
I think the interest rates are out of hand.
At any rate, while I'd love to see student loans forgiven, this isn't the sort of policy the Democrats will be interested in implementing. Graduates with student debts are not generally going to be in that mostly non-working group of folks dubbed the "working class," rather, we're more likely to be middle to upper-middle class -- kind of in the "to hell with you" category, right below the "we're actively trying to undermine your financial security" category.
At any rate, while I'd also like a choo-choo and a red race car and a spiderman for Christmas, I don't think I'll be getting my student loans forgiven either.
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