Poll: Obama's college student loan reform is mad popular

[w¡n9Nµ7 §£@¥€r 123]

Washington (CNN) - Nearly two-thirds of Americans say they favor a proposal to increase the amount of money available for college loans by allowing the government to provide those loans directly to students, according to a new poll.

A CNN/Opinion Research Corporation survey released Wednesday indicates that 64 percent of respondents favor the proposal and 34 percent opposed it.

The measure is part of a package of fixes that were added by House Democrats to the Senate health care reform bill that was passed by the House on Sunday and signed into law by President Obama Tuesday. The fixes still need to be passed the Senate and then returned to the House for final approval.

The student loan measure, which is a priority for Obama, would end the practice of having private banks offer student loans backed by the government.

"Many Americans may not know that a major change to the federal student loan program is part of the health care legislation moving through Congress, but those changes appear to be generally popular," says CNN Polling Director Keating Holland.

The survey also indicates, to a degree, some rare bipartisan support, with a vast majority of Democrats, a solid majority of Independents, and a slight majority of Republicans favoring the proposal.

http://politicalticker.blogs.cnn.com/2010/03/25/poll-big-support-for-student-loan-change/?fbid=CQ549MehZaK

[Obama 2012 1,714]

Oh #### it.

Let's just nationalize the bread industry, cheese industry, soda industry, beer industry (look how that works for Ontario.....), electronics industry, and everything else.

Let's all line up for our bread and free cheese and be merry and happy together!

[w¡n9Nµ7 §£@¥€r 123]

Oh #### it.

Let's just nationalize the bread industry, cheese industry, soda industry, beer industry (look how that works for Ontario.....), electronics industry, and everything else.

Let's all line up for our bread and free cheese and be merry and happy together!

Why is it so important to you that private banks serve as a for-profit middleman between the Federal government and students?

Edited March 26, 2010 by w¡n9Nµ7 §£@¥€r

[Obama 2012 1,714]

Why is it so important to you that private banks serve as a for-profit middleman between the Federal government and students?

Because I'd much rather the money/profit be dispersed from several banks who can make money, than a singular entity who will benefit from the interest on the student loans.

See: Federal Reserve - which is a private bank still...

[Nina~ 431]

Why is it so important to you that private banks serve as a for-profit middleman between the Federal government and students?

Haven't you heard, screwing over college students is a RIGHT and not a privilege

[w¡n9Nµ7 §£@¥€r 123]

Because I'd much rather the money/profit be dispersed from several banks who can make money, than a singular entity who will benefit from the interest on the student loans.

The primary goal of student loans isn't profit. It's enabling more students to go to college. Eliminating the banks furthers that primary goal.

[mawilson 2,133]

Because I'd much rather the money/profit be dispersed from several banks who can make money, than a singular entity who will benefit from the interest on the student loans.

No thanks. These loans are guaranteed by the taxpayer, so in effect the losses

are socialized, yet the profits remain private. Might as well socialize the

whole thing.

[mRx 16]

Federal Reserve - which is a private bank still...

Not really. It was created by a legislative act, and its board of directors is appointed by Congress, and reports to Congress. Operationally, its a government-run entity.

[웃 910]

Washington (CNN) - Nearly two-thirds of Americans say they favor a proposal to increase the amount of money available for college loans by allowing the government to provide those loans directly to students, according to a new poll.

Gov't taking over the student loan industry---no comment.

Increasing the amount of the student loan---very bad idea. I'm sure the loan default rate is high enough as it is. Giving them more money to default payment on is not a good strategy. More money equals more interest equals higher payments equals harder to pay.

On the other hand, I am accepting all the SL money I can right now while I'm in grad school. I'll start paying $200 a month in April for pretty much several decades to come ---->

I thought maybe $80-$90 would be appropriate but $200/month! How are college students going to afford their own home/car/health insurance/car insurance/food/gas/electricity ON TOP of a $200/month SL payment????

Luckily I used my money to buy a rental home and when I get another $10,000 this fall I'll buy another

[Obama 2012 1,714]

Not really. It was created by a legislative act, and its board of directors is appointed by Congress, and reports to Congress. Operationally, its a government-run entity.

Not really.

It's completely private for the most and while Bernanke 'reports' to congress, they still set interest rates with or without permission from congress.

Every time the treasury wants more money they are borrowing it from the bank with interest.

It's still a privately run bank, that has investors in it from all over the world.

It's also not exactly 'transparent' in nature either.

The board of Governors is about the only thing the government has involvement in for the Fed. Outside of that, they care about one thing and one thing alone; making money.

[mRx 16]

Not really.

It's completely private for the most and while Bernanke 'reports' to congress, they still set interest rates with or without permission from congress.

Every time the treasury wants more money they are borrowing it from the bank with interest.

It's still a privately run bank, that has investors in it from all over the world.

It's also not exactly 'transparent' in nature either.

The board of Governors is about the only thing the government has involvement in for the Fed. Outside of that, they care about one thing and one thing alone; making money.

The Fed operates within boundaries set by the government's monetary policy. Fractional Reserve Banking and discount rate manipulation is guided by Fed policy which is guided by monetary/fiscal policy which is set by government.

Of course I agree that individuals are profiting from the Fed, just as there are powerful individuals who profit from any other government agency, but that doesn't make them privately run.