Just cap the interest rate, my man. That would solve the entire problem.
this post was submitted on 04 Oct 2023
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Just cap the interest rate
at zero. If the loan is risk free it shouldn't be profitable, to do anything else is to funnel public money into the banks.
At 0% interest, no bank would offer loans, because it would literally just be them losing money managing loans they make nothing from.
Zero percent and govt covers operating costs with a stipend per loan. Granted figuring out the rate to pay would be a task, and keeping that from being a gouge itself... but better than passing it along to borrowers.
Yeah if you give them a way to turn some sort of profit I think this idea could have some legs. Even something small like OP costs plus a flat thousand or so per loan processed could still keep the game running.
Loan values would still keep going up, but the price would be much more understandable to those taking them out.
IMHO, college tuition and student loans should be handled the way that the healthcare marketplace of the ACA should've been handled: less carrot, more stick.
To the banks/insurance companies:
"If you want to continue to do business with the American public, you must offer competitively priced insurance packages/low or zero interest loans for education on a government run portal. If you don't serve the public in this way, you'll be prohibited from accessing the American people as a market for your for-profit business."
Honestly, the American Consumer Is the greatest driver of global economic growth and domestic economic stability in the world, and the American government's single most valuable economic asset. That the government chooses, through its policy decisions to exploit and abuse this asset rather than protect it, grow it, and prosper alongside it speaks to who's really calling the shots.
Sure, it would piss off the hard-line "free market" advocates, but small businesses pay taxes at a level that impacts their profitability in a way that larger corporations simply don't. I feel it's more than fair to level that playing field by some small degree by locking access to the American consumer behind the condition of having to contribute to the betterment of that market.
That requires legislation and we do not currently have a House that can even consider legislation
Definitely a good start until we can get education costs under control.
Biden had a really good plan. Zero interest as long as you pay at least something, and the payment being as low as $1 with a sliding scale based on income.
It's more fair than just forgiveness to people without loans since the debt isn't eliminated. I'm personally fine with eliminating the debt to have a more educated society, but a lot of people aren't, and that's a good middle ground.
an additional $9 billion in student debt relief for 125,000 borrowers
$72,000 each
Finally a bailout that is for the people! You da man Biden!! Yeeyee!!
At least not bailing out some huge corpos that short-term themselves to bankruptcy.
What a monster lol
The world's on fire.
In 2020 I voted against Trump, in 2024 I'm voting for Biden.
Is there someone better running for a change?
We need Bernard Sanders.
We can do better. Dr. Cornel West gets my vote.
You aren't actually serious right?
Cornell has bumbled his micro campaign into irrelevance within weeks of it starting. He's shown no political savvy. He has run for and won no prior office. He'd be a disaster.
Fetterman, or literally any progressive who has won a federal election is a better option.
Dude, if Fetterman ran I'd vote for him in an instant. Doubly so if he took the oath of office in shorts and a hoodie
You shouldn't, He just entered federal Politics. He needs experience and more importantly he needs to be stabilize his Health before he would even dream of going to the next level.
He just won his election against a TV host bullshit artist.
He's playing the game excellently. He'd be a great candidate.
He just needs more experience. He didn’t debate well either. Oz was just such a dumb candidate.
Agree to disagree. I think he'd do fine. He'll debate better than Biden. He's got a record of victory against big names.
Thats plenty. We could have elected a boot in 2020 to oust Trump. We basically elected weekend at bernies Biden. But its fine. Whatever it takes.
And honestly, I'd be shocked if there are even debates. If Trump doesn't' show up for primary debates, he doesn't deserve the privileged and airtime that general debates would offer.
That’s reasonable. I’m not saying I wouldn’t vote for him. I prefer politicians that know how to play the game and will be strategic over giving idealistic speeches that sound great but never go anywhere.
Personally I don’t care about Biden’s age. He’s perfectly fine. If not Harris is there for a reason. We are moving forward. Fetterman has the same mindset actually: https://www.businessinsider.com/john-fetterman-never-understand-progressives-support-joe-biden-2023-9?amp
It's pretty clear to me the way the DNC has been buying airtime for Newsom that Biden won't actually be on the ticket in 2024. They're pulling a bait and switch and we're in the bait phase.
I'm promoting Fetterman because I want a real progressive option instead of a force fed Newsom. And as far as playing the game, it is a game of idealistic speeches and sound bytes. It doesn't matter how Machiavellian you are if you can't win Iowa, New Hampshire, and Pennsylvania. Fetterman can deliver those states.
I'm all for staying with Biden for the moment. But the second he starts to waiver, in dropping what I'm doing and joining the Fetterman campaign. Newsom will lose if he runs against Trump.
I don’t see Biden stepping aside, but I also don’t see more people voting for Trump in 2024 than they did in 2020 with all these court cases. Regardless we will have primaries next spring to figure it out.
Regardless we will have primaries next spring to figure it out.
I hope you are correct on all fronts.
I'm voting for cornel west because I like what he says, not what people say about him. but the people talking shit on him cement my belief he's the right guy.
This some ignorant ass shit, but I'm not worried.
You don't really strike me as the "actually votes" type.
I live in a swing state. you can buy my vote for $20,000
Bruh why I gotta pay you when I already know you wont get off your ass to do shit.
Not true at all, still polling at 5% and will get at least that in the general.
Not surprised someone who thinks a walking corpse like Fetterman is a better option would be so ignorant.
Damn man, he didn't say you were stupid, he just said he disagreed with you. Don't need to sling mud for a different opinion.
He did insult someone who has likely accomplished 1000x more with his life, Dr. West. So no, I'm not the one slinging mud here.
He did insult someone who has likely accomplished 1000x more with his life, Dr. West.
Bro Dr. Wests students don't even want Dr. West to run.
West is being played the fool right now, and you along for the ride.
Fake as fuck. Ben Dixon is a Democrat grifter you're the one being fooled here.
Aight you just a troll.
👍
You're the troll posting an hour podcast like anyone gave a fuck.
Bruh 😎 it's literally people who have a direct personal relationship with West and who have been some of his most outspoken supporters showing how much of a damn fool West is for this campaign.
Bro you one dumb buggah. You should just keep your 👄 shut.
Richard Wolff gets mine.
I'd happily vote for Dr. Wolff.
As I'd happily vote Dr. Cornel West, comrade.