The Student Loan Bailout Bandwagon Rolls On
On Monday, I had the opportunity to appear on Fox Business News to once again suggest that perhaps the government could do a little something to help out graduates with massive educational debts and limited job prospects.
Should U.S. Adopt U.K. Student Loan Program?
If Fox Business is willing to talk about a massive government intervention of this nature, this idea might have more legs than we thought.
In the segment, I talked about the stimulative effect of a releasing recent graduates from their ridiculous debt obligations. Last month, I talked here about the positive effect such a bailout could have on public service.
But it is also worth noting the political upside for Obama’s administration. Let’s not forget that this man was elected in part thanks to the commitment, money, and turnout of the educated and the young. Obama waxed Palin and Gramps among voters with college degree and voters with professional degrees.
Health care has devolved into a discussion where one side tried to remind baby boomers that their bloated generation is too damn expensive — while the other side tries to make sure boomers are afraid as possible of their approaching mortality. It’s pretty obvious that once again that the people who represent America’s future are not at the top of the agenda.
Helping students and recent graduates out with their loans will give the younger generation the financial kick start we need in order to figure out how we are going to pay for grandma and grandpa to live forever and a day. Wouldn’t it be better if there were 28-year-olds owning small businesses instead of owing the government 5.6% on every educational dollar?
The 2008 election proved that there are votes (and campaign dollars) to be had if you are the choice of a new generation. Let’s hope Obama hasn’t completely forgotten that as he and the “blue dog” Democrats struggle to keep health care lucrative for insurance companies.
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Even subsidized loans are currently 6.8%! I think every time I write that check those funds could be “stimulating the economy” through investment, commerce or a mortgage. But instead, for the next 20 years, they’ll be paying down interest on debt I took on to get a degree.
A short time ago my brother in law had some trouble breathing and went to the ER…turned out it saved his life…he had insurance and all was well…he also he a good doctor who spent an unusual amount of time with him answering questions…I couldn’t place his accent…he said he was from Norway and I asked him why he was practicing here. His reply was that this country had many benefits that we don’t realize, for instance his ability to make more money in a free enterprise system. But I said it was very expensive for the people. Yes but we have high taxes in Norway…then he through in this aside: Of course our medical is free and my education was free. But that is a small thing.
A free medical education and free health care. Such a small thing. A way for anyone from any financial class to live a healthy life and achieve to the best of their abilities. Such a small thing.
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