Student Loan Socialism

We know that a government student loan monopoly is just right for you. After all, what could go wrong with politicians owning everything? Warning: May cause hilarity.

Category:

Comedy

Tags:

• Student
• loans
• socialism
• Obama
• aid
• big
• brother
• communism
• government
• education
• democrats
• republicans
• politics

[arp76]

i took out a student loan (in Canada) paid it off. It sucks, I got an education and am now in the highest tax bracket --almost 50% of my salary goes to the damn government in taxes. I should have never taken that student loan and been a contributing member of society

[locknes2008]

@hexzerg yep they print away federal reserve which is a privately owned collects intrest on the debt

[Markam44]

@hexzerg Every bank is in debt to its creditors/investors who provide the capital for the bank to loan out. A loan is not money out the door, that is a grant. A loan is an asset. Think accrual accounting. Except for one type of federal student loans, all direct student loans are currently running negative subsidies which means they are projected to make money over the life of the loan. They only appropriate the difference, which is less than $0 in this case.

[hexzerg]

@Markam44 You make no sense. How can the government loan when the government is in debt? In fact it is in trillion $s in debt. How can it loan what itself does not have? It has to borrow, increase taxes, or print money. I'm sorry but the money for student loans do actually have to come from somewhere.

[Markam44]

This doesn't add to the national debt or the deficit. It reduces both. For some reason people forget about basic banking principles just because he government is involved. If you open a bank on Dec. 31st and make a loan for $1000, then close for New Year's Eve, have you posted a loss of $1000 for the year? Of course not? That loan is a capital asset for your bank, not a loss or a revenue item. You calculate the NPV of the future cash flows. So does gov't.

[illnastic]

government loans or private loans....well I'd rather not get raped in the ass so Im gonna go ahead and go government. Debtors prisons were outlawed years ago its not like they're gonna lock me up and throw away the key....

[DonJack1776]

Hey, why doesn't the federal government just stop insuring student loans? It costs us billions of dollars to do that? Or better yet, why don't banks get out of the student lending business altogether? It would save the tax payers much more money if the federal government would do it. Oh right! I forgot. The CEI is a corporate propaganda mill that has no problem with the corporate welfare that the student lenders get. My bad.

[hyperseauton]

It's HowTheWorldWorks as a shopping network presenter!

[Scammington]

You might be interested in the book written by CEI's former Journalism Fellow, Tim Carney. It's titled "The Big Ripoff: How Big Business and Big Government Steal Your Money." Available on Amazon. It won 1st place in the 2008 Templeton Enterprise Awards!

[anti0918]

Corporate fraud is handled by the courts. If you're talking about policies that favor corporations - thank the source of the force, namely, the government that created the policies. Obviously the companies that influence such politicians are acting irrationally, but so long as politicians are free to create laws that violate rights in order to favor certain companies, those companies will be willing to buy the politicians.