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View Full Version : Is Mitt Romney speaking of a possible bailout ?




CaptainAmerica
05-15-2012, 07:11 PM
In one of his patented Etch-a-Sketch moments, Republican presidential candidate Mitt Romney decided to agree with President Obama that the current low interest rate of 3.4 percent for student loans should be extended.

How would loans be "extended". Is this bail out talk?

correct me if Im wrong.
http://www.politicususa.com/youth-vote-student-loans.html

The Gold Standard
05-15-2012, 07:27 PM
Mitt loves bailouts just as much as Barack does. Wars too. Actually, pretty much everything Barack loves, Mitt loves as well.

CaptainAmerica
05-15-2012, 07:28 PM
Mitt loves bailouts just as much as Barack does. Wars too. Actually, pretty much everything Barack loves, Mitt loves as well. I don't know exactly how a president would "extend lower interest rates".....is this through a bill /bailout or mandate upon the banks?

Lishy
05-15-2012, 07:29 PM
CORPORATIONS ARE PEOPLE!!!

Vessol
05-15-2012, 07:43 PM
Can interest rates even go any lower?

pcosmar
05-15-2012, 07:46 PM
Can interest rates even go any lower?

Just print more money.

Of course he will bail out his backers.

Zippyjuan
05-15-2012, 11:01 PM
The government today is basically the only source for student loans. They set the rates on them and unless Congress acts, those rates are scheduled to rise (about double) in July. Romney (and about everybody running for office it seems) is in favor of not allowing those rates to rise.
http://money.cnn.com/2012/05/15/pf/college/student_loans/?source=cnn_bin

NEW YORK (CNNMoney) -- For student borrowers, that pricey college education is going to cost a bit more next year.

If Congress does not act, interest rates on federal student loans, which were temporarily held at a low 3.4%, will revert back to 6.8% for the 2012-2013 school year starting July 1.

That means more than 7 million students taking out Stafford and other federally subsidized loans to cover next year's tuition will have a harder time paying them off.

The average cost to students who take out a student loan next year will be $1,000 in increased debt, according to the White House.

The draconian hidden penalty on student loans

Freshmen just starting out will feel the biggest hit. Assuming rates are 6.8% the next four years, students borrowing the maximum $23,000 in subsidized loans during college would pay an extra $38 a month after graduation. Over the standard 10-year repayment period, that's an additional $4,600 in interest.