Posts Tagged ‘TARP’

Bailout for Student Loans

The problem with all these bailouts is where do you draw the line.  Banks and financial institutions were bailed out, as were people who bought way too much house.  Unemployment benefits are extended again and we have “Cash for” this and “Cash for” that.  What about student loan relief for Americans who spent money trying to improve themselves?  We spend near 30K to put someone in Georgia State Penitentiary but what about the kid who graduated from Georgia State University.

The people who are constantly moaning about socialism need to consider our college finance system.  I am not sure about today but when I was in college, a kid whose father punked out on the family often qualified for a free college education.  Okay, it was not free because my parents’ tax dollars funded it.  On the other hand, I had to pay for my education and like the Obamas, that debt continued late into life.  That’s socialism or the redistribution of wealth.   

I just joined a facebook group looking into a bailout for student loan but I have my own ideas.  The federal government should take that returned TARP money and create a student loan program similar to the housing recovery deal.  The formula could involve a long payment term with zero interest for the original loan amount plus 25% of the accrued interest.  People who received other bailouts would not be eligible nor would people drive new cars with rims.  Hey, we spent some much money on the space program, Afghanistan nation-building and Ray Ray’s babies mommas; what about the people who were doing something positive.  We should remember that the federal government failed to monitor and regulate Wall Street and the economic engines—leading the high unemployment and slow student loan repayment.       



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