* When I graduated from college (almost 40 years ago), I had a college loan that I had to pay back. My interest rate was 7% and my loan would be paid back over ten years. My husband also had student loans, and we paid that off as well. It was tough, but we did it. Knowing that President and Mrs. Obama worked hard to repay their student loans, makes me feel that they understand the problems that students and families have in facing college debt. I'm glad to see that President Obama and the Democrats are working to get students to college and provide government programs to help them do it. An educated populace helps us compete with other nations. Why are Republicans so against keeping college loan interest rates low?
Republican Rep. Virginia Foxx thinks that there is no excuse for college debt.
Republicreport:
Last week, ThinkProgress’s Scott Keyes found an amazing interview with
Rep. Virginia Foxx (R-NC) where she totally dismissed the concerns of
students who have large amounts of debt as a result of getting an
education. “I have very little tolerance for people who tell me that
they graduate with $200,000 of debt or even $80,000 of debt because
there’s no reason for that,” she told a radio host. She also complained
that students want success “dumped in their lap.”
....Many commentators have prescribed Foxx’s harsh words as evidence of her
being motivated by callous ideology. While it is possible that this is
one of her motivations, there’s one other very big factor at play here.
Foxx is one of Congress’s most outspoken proponents
of for-profit colleges — an industry rife with scam schools that charge
students exorbitant tuition and fees. This veritable subprime school
industry gets the majority of its funding through federal loans and
grants that students use to afford school. ”About 87 percent of the
revenue at the biggest for-profits comes from federal taxpayers,
according to the Chronicle of Higher Education. They belong to a class
of company that I call Subsidy Sucklers,”
writes the Washington Examiner’s Tim Carney. Records show that
executives at the top 15 of these for-profit schools “also received $2
billion during the last seven years from the proceeds of selling company
stock,” with Strayer’s chairman earning “$41.9 million last year.
That’s 26 times the compensation of the highest-paid president of a traditional university.”
If you are thinking of attending medical school, your debt will be huge. A quick look at fees for The Ohio State University College of Medicine shows that an Ohio resident would pay approximately $140,000 for four years of medical school at OSU (excluding living expenses). It is no wonder that the average medical school graduate has a debt of approximately $200,000+.
*** Republican Rep. Steve Stivers is out courting those farmers that are now in his newly drawn district. Do farmers know that Steve Stivers voted for the Paul Ryan budget which cuts $33 billion in farm subsidies (see HuffPost).
>>>>> Ohioans might not know it, but oil/gas exploration firms, and lawyers are going through county auditors offices to see which people own the mineral rights to properties through out the Marcellus Shale areas of the state. You may own your home, and property, but the mineral rights might belong to someone else.