So, the government would help fund the education of its citizens? Seriously? The government that we pay taxes to support?

Wow…never would have seen this change coming.

I can see the light ahead of the tunnel!!!!

Yeah..unfortunately, that light is an oncoming train. Are these interest free loans? Sounds like more “political” BS. I haven’t done so yet, but I’m sure, once peeled back, there will be some costly strings attached!

Also, what difference does it make, when there will be no jobs waiting for these new graduates?

The folks least affected by the recession are folks with college degrees.

The unemployment rate for people with a college degree is half that of people without.

Less than 5% of people with graduate degrees are unemployed.

Clearly, the recession hit people with less formal education harder than it did those with more formal education.

It just makes sense to make formal education more affordable for the working class.

Once you have to access to that education, it’s up to you to pick a field that has a future and make sure you turn it to your advantage.

There’s nothing to complain about. This is more money for Pell Grants and HBCUs.

Don’t be fooled by this college stuff I have a freind who got his degree and can barley get a job and on top of that those loans are outragous too, schools are not telling the truth about these loans they want you to take them out and once they get the money it’s all on you

Sorry…it’s better to have your degree…than without it….the college degree today…is the new high school diploma back in the day…obama is right…you really need a master’s degree in today’s job market climate…

@luvmoney4eva

That’s why it’s called a loan.

They expect you to pay it back.

hmm – luvmoney4eva – the correct spelling is BARELY , not barley which is a grain you might have seen it alot on the beverage you consume – but government loans are always lower than commercial because the longevity of the government versus a business which might get caught in all the corruptions they participate in. Yes loans have interest but you should think of it as an investment – there are fees with stocks but what you reap is far greater – use the loans go to college – READ – this is the only way the N-word wont come out W….. mouths as a derogatory term. And yes you will make more money because those with money know you know your worth.

[...] Originally posted here: House Approves Massive Overhaul Of Student Loans Program | News One [...]

If everyone in this country were to go and get a Master’s Degree in something, unemployment would still be through the roof. The fact is, America no longer dominates the technology, Auto, Banking, energy sectors the way they once did. Most of these jobs are being moved off shore, due to the high taxes imposed on these companies, who find it difficult to compete with companies around the world that don’t have the same impositions. Luvmoney4eva makes an excellent point, misspelling notwithstanding. Graduates typically leave college in substantial debt, and if they don’t find a relatively high paying job right out of school, that hole just gets deeper and deeper. The jobs are just not available like they once were! Having said that, having/pursuing a degree is not something I would discourage, but it should be understood, that gaining this knowledge, with the expectation of creating your own job/ability to make a living SHOULD be the goal first and foremost. Unless you’re a wiz in math, and can land a job on Wall street, nothing else is guaranteed.

Does the government plan to make a profit off of these loans???

Or is it a service to its citizens, much like a high school education??

Why don’t the feds just raise taxes and give everyone a free ride through college… much like they do with high school…

oh yeah high schools are have compulsary attendance and only a 50% graduation rate…

Who is going to underwrite these loans, some company chosen by the government? Also, the government will make profits from these loans and use the money to support the massively expensive Health Reform Law. Why do you think this bill was tucked deep inside the health bill? Government loans usually have lower rates than privately owned bank loans because the government routinely operates at losses or breaks even while privately owned banks have investors and customers to answer to. Case in point Fannie Mae and Freddie Mac. These two quasi government mortgage companies have interest rates much lower than private banks and also both lost money and would have went bankrupt if it wasn’t for the bail out it received. This program isn’t to have more educated people that come from poverty, this program is to entice people to take the government loans and then work for the government as a bureaucrat to then have the loans totally forgiven. The government believes that if it employs the majority of the public then the public will have no descent when government wants to take more or grow more.

[...] House Approves Massive Overhaul Of Student Loans Program | News One [...]