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12:06 AM on 06/27/2013
That is because the industry of Student lending has been purchased and paid for with taxx dollars and now is in the parties of the same people that brought you the Iraq War and all the excess spending which it propagated. The Trilions that were extorted, the Gov contracts signed for/by Bush and the friends of the Administration. They then purchased things like Student lending Organizations to have a permanent slush fund of Americans. As they destroyed the economy with their terrible economic policies, record spending, and taxx breaks.

Talk about having your cake and eating it too!

The student lendng organizations are all a bunch of dishonest crooks. Just like the people who brought you the Iraqi wars!
02:16 AM on 06/27/2013
All this and yet the department that doesn't educate will still cost a trillion dollars over the next dozen years or so. But they do a bang up job of making sure everyone ready for college or not gets a loan.
08:21 AM on 06/27/2013
john Boehner is heavily involved with sallie mae
12:41 PM on 06/27/2013
Warren Buffet is a slush fund for The British Monarchy and the Iraqi War.

There are lots of crooks. Just like Donald Trump is one of the same..... Just saying,,,,,,,

They are all pretty much a part of Daniel and Susanna.
12:00 AM on 06/27/2013
Why not look at why school tuition is rising so fast? Why do we issue student visas if it means college becomes more expensive? Or just end all public funding for schools if they aren't for US students. And why do we have H1B work visas that drive down wages making it harder to pay off loans!? And if jobs in the US are not for US workers then STOP taxing US workers and instead tax the "global economy" to pay for things corporations want.
Sorry kids.
12:09 AM on 06/27/2013
The Greenspan /Ayn Rand philosophy is that educating the marginal rather than letting them fend for themselves and letting the cream rise on it's own was a driving force. Everybody just forgot. Of course that is delusional, but you can't make this stuff up.
01:21 AM on 06/27/2013
Good points in an excellent comment!!
11:53 PM on 06/26/2013
This is a clear indicator that the fed has very nearly run out of businesses to give taxpayer money!! Sad day for Wall Street maybe
10:48 PM on 06/26/2013
The Fed could untie so much spending power from the American public if they bought all of the student loan debt and literally destroyed the debt. They are doing much the same by QE (Quantitative Easing) but instead of bailing out students, they are bailing out banks and investors who backed the housing bubble but not the homeowners who borrowed and had their investments crash due to the Wall Street and Fed created bubble.

Our political and governing elite have fixated their powers on intervening in the free market system to bail out investors but not students. Investing in education is not as important to our political and governing elite as it is having big money bailed out when they fail in the free market system.

Monetizing student loans would be much better for the average person in the United States and it would create huge ripples of demand that would jump start the economy. Monetizing mortgage securities creates a moral hazard problem where risks are socialized by the public but gains are banked by investors.

An added gain would be that the extra QE would make China's currency manipulation strategy to "buy" American jobs more costly.
01:15 AM on 06/27/2013
By your logic, the fed could simply give money to people. Imagine how much spending that was create
09:57 AM on 06/27/2013
You're right.
02:24 AM on 06/27/2013
They could remove student debt, just takes adding $1.2Trillion to our national debt. I favor it, my kids owe about $40K. But, along with that, colleges and trade schools should justify and dramatically cut their costs. A baccalaureate should be doable in 3 years @ $5K a year, a phlebotomist or mechanic should get the cert for 1 year of their starting salary. A STEM degree could get by without another Liberal Arts and PE class, a Lib Arts or business major could forego Chem 101.
10:31 AM on 06/27/2013
When the Fed monetizes the debt, there is no addition to national debt except on paper.  The only real difference is that cash flows to pay for that debt are no longer there so all of those people can spend their earnings on other things. 

I agree that colleges cost too much and that education under our current economic system is way over rated based on the opportunities in the economy.  As long as we allow our corporations to keep their markets here and import without restriction from the rest of the world, we will not create employment demand and decent wages based on the market.

The high tech companies supporting the immigration bill is just another corporate grab at cheap world labor while they continue to access U.S. markets.  They are arbitraging world labor rates for their greed and reducing U.S. employment.
09:50 PM on 06/26/2013
I didn't know the FED had any authority over student loans.
01:23 AM on 06/27/2013
They don't. Student loan interest rates are set by Congress.
Robert Buttons
01:38 AM on 06/27/2013
Boggles the mind as to why interest rates are not determined by the market.
02:20 AM on 06/27/2013
so what is the purpose of this article?