It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Washington DC, May 8, 2013 — I urge a major all points mobilization in support of Sen Elizabeth Warren’s Bank on Students bill mandating that the Federal Reserve provide 0.75% cheap federal credit for federal student loans (Stafford loans) via the US Department of Education. This is so far as we know the first bill which proposes to force the Fed to provide cheap credit to something other than banks and financial institutions.
This will contribute to jobs in the education sector if nowhere else. There is an economic benefit here. Plus having more educated people in the unemployment lines may move us further along toward the 1% Wall Street sales tax, in terms of educated agitation and activism. I see the glass as "half full" on this one.
America needs a second "New Deal". It is obvious from looking at the way wealth is distributed in the country. Even up here in Canada there is growing criticism of the government's austerity line.
Originally posted by seeker1963
Who is distributing the wealth? Is this thread about education or socialism?
Originally posted by Krazysh0t
This isn't going to help anything. Instead of having a $40,000 student loan with crushing interest that cannot be paid back because the graduate can't find work and cannot be charged off in bankruptcy, the graduate will have a $40,000 student loan with a meager interest that cannot be paid back because the graduate can't find work and cannot be charged off in bankruptcy.
Remove many of the gen ed credits from different majors; for example, as a computer science major, I really don't need to take psychology or philosophy.
This isn't even touching on the problems of the student loan problem (like purposely overlending money to the students knowing that they aren't going to turn around and repay that money to their loan and instead spend it on junk).