President Obama today unpacks his newest tool for smacking evil Republicans. It’s called the Stafford Loan.
Currently, students can get this already-subsidized loan at 3.4 percent instead of the usual 6.8 percent. They don’t start paying until they’re six months out of school – or until six months after they get depressed over being dumped by their girlfriend and drop out.
Not a bad deal for a student loan, on which nearly ten percent of of those who take one default within the first two years. And with a Stafford Loan you can even take a holiday from paying for up to three years if you find you’re out of money.
Republicans, Obama plans to explain at events today in the presidential swing states of North Carolina and Colorado, oppose continuing the reduced rate not because they think the $6 billion a year it costs taxpayers may not be the best investment of scarce federal funds as the Obama deficits range over $1 trillion. They oppose it because they hate young people, and they don’t want anyone else to have the privileges they and their rich friends have.
But Obama, turns out, hates young people even more, because he MISSED THE TWO VOTES in 2007 that originally cut the loan rate for five years from 6.8 to 3.4 percent.
Mitt Romney, who made noises during the primaries about ending such federal help, has of course preemptively caved and agrees with Obama – despite being severely conservative – putting pressure on House Republicans who oppose extending the rate cut.
White House Press Secretary Jay Carney teed up the coming fusillade of nastiness Friday during a White House briefing on the matter:
This is another issue that should enjoy broad bipartisan support, because you really have to have a brick in your head not to understand that education is the cornerstone of our economic future.
OMG, Carney, who is also a famous neurosurgeon, has diagnosed what’s wrong with Republicans: They have bricks in their heads!
I should have known. All this time I thought they had holes in their heads. Maybe some do, and then I would hopefully be able to see the brick and confirm Carney’s diagnosis.
At the risk of finding I do in fact need to have my head examined, I wonder, is it really appropriate that everybody go to college? Does everyone need to be saddled with debt for years paying off loans for a degree they perhaps didn’t need, given what they ended up doing for a living?
And just how hard is it to go to college anyway without a little help from our taxpaying friends?
According to a CNNMoney report last October, living and studying on campus at a typical private college costs $42,224. Of course, that’s the sticker price. Nobody who can’t afford it pays the sticker price.
If the student aid office doesn’t come through, there’s an alternative. The price to be an on-campus student at the average public university is about $21,447. Still can’t do it? Well then live off campus. The cost for tuition alone at a public university is $8,244.
This last option, and along with financial aid probably the others too, should be achievable IF YOUR PARENTS BOTHERED SAVING FOR YOUR COLLEGE. That is, save to buy the product before you buy it, not after you’ve purchased it. I know it’s a novel idea.
If your parents didn’t do this, tough luck. If you’re disappointed enough, what can I tell you – disconnect the brakes on their car and collect an early inheritance. Just don’t come badgering taxpayers to make up for their negligence.
But wait. There’s ANOTHER option. Tuition at the average community college is $3,000.
Stop! Don’t murder your parents! Go to a community college!
Is someone going to tell me that the average college student can find no way of making $3,000 over the course of a year? Or perhaps go on the six year plan and pay $2,000 per year?
I know jobs are tight, but you should be able to get something.
HAS ANYBODY EVER HEARD OF WORKING IN A SPORTING GOODS STORE?? It’s not hard. I did it. Here’s what you do. You say:
“Would you like to try this on?”
And then, you say to the next person, “Would you like to try this on?”
Or maybe you will have to learn to say, “This one is for use outside, and this one is for use in a gym.”
And so forth.
I used to knock on doors during the summer and wash peoples’ windows. Nice little income. Got to play with their kids’ toys too.
But really, a college education isn’t all it’s cracked up to be. After all, I obviously still HAVE A BRICK IN MY HEAD.