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Stick it to students

The Campaign for America's Future says that a huge jump in interest rates in  college loan programs will really stick it to those borrowing to go to college. In Arkansas, it reports, students will have to pay $1,981 to $2,683 more for their college loans thanks to the rise. The Republican Congress refused proposals to soften this blow. It doesn't have much money to throw around because it wants to give billions away by ending the estate tax Let the college kids pay for Welfare for Waltons. If they're lucky sperms, they could be billionaires someday, too.

News release on jump.

LITTLE ROCK, ARK. -- Arkansas students will have to pay $1981 to $2683 more in college loans beginning Saturday, according to a new report released today by the research arm of the Campaign for America’s Future. College students and graduates will be pushed deeper into debt as interest rates on Stafford loans -- the basic student loan -- rise from 5.3 percent to 7.14 percent on old loans and to 6.8 percent on new loans at the end of this week.

Parents that take out PLUS loans to help their children pay for an undergraduate education also face rising interest rates. This Saturday, rates on PLUS loans will increase from 6.1 percent to nearly 8 percent for existing loans and to 8.5 percent on new loans, costing the average parent nationally an extra $3000 and $3953 respectively.

Campaign for America’s Future co-director Robert Borosage explained how Congress has carried out a raid on student aid through acts of commission and omission.

"The failure of the current administration and Congress to make college affordable for all qualified students is a disservice to the country," said Borosage. "The Republican leadership has allowed interest rates on student loans to rise, increased the interest rate on loans that parents take out to help pay for their children’s education and refused to allow a vote on a bill that would cut interest rates in half on new loans."

The rising interest rates come at a bad time for American families attempting to pay for college. Tuition at the average 4-year public university has increased by 40 percent since 2001, and nearly two-thirds of all 4-year college graduates now have student loans. Students and their parents are going further into debt, creating a burden that is often unsustainable. Student loan debt already causes 14 percent of young graduates to delay marriage; 30 percent to hold off on buying a car; 21 percent to postpone having children; and 38 percent to delay buying a home.

Students and families need relief from rising interest rates on student loans. Sen. Richard Durbin, D-Ill., and Rep. George Miller, D-Calif., responded to the public’s concern earlier this year by introducing legislation that cuts student loan interest rates in half. Their legislation would have saved Arkansas students and families $4334 in payments, according to today’s report.

Comments

I love it when Max goes Nazi socialist. It shows how really stupid this death tax crap is. Ronnie Brewer is a member of the lucky spem club too. Would Max have had Ron Sr. sterilized to stop this unfair advantage from being inherited?

Just a little turning of the big screw that widens the economic gap in America.

My first thought was that this is a big blow to those on the lower rungs of the ladder-- the ones who can get this type of loan so they can scrap their way to an education and subsequent employment. That's the way it's supposed to work, right? Then they are contributing to society with their work, their deeds, and the taxes they pay in.

But I didn't even take into account those who will never even be able to reach up to the bottom rung. As long as they are down there, somebody's gotta pay their way.

So go ahead, Congress, keep up the good work.

The irony is that Republicans are known for wanting fewer social programs, yet their legislation creates the need for more of them.


Anon 3:40, you are either very, very, very wealthy, an idiot, or both. My guess would be that you are just an idiot. WHy would you bring up forced sterilization? It has no place, was never mentioned and is a transparent attempt to characterize any who would dare to disagree with your mighty assumptions as evil-doers. The irony here is that your comments are the true bit bit of evil present. Additionally, your comments are ill-advised and moronic.

It is in our national interest to educate the population. Education is the key to self improvement finanially. A better financial situation includes more disposable income, which in turn drives the economy. This in turn increases revenues for the operation of government. An uneducated populace means a poorer populous. This leads toward a stagnant economy and less money for individuals and for government. When we make it harder for individuals to get an education, we do direct, long-term damage to the nation's economy.

Inherited wealth however, does not stimulate the economy. It does not improve our national economy and benefits no one but the lucky recipient. The estate tax is the fairest tax we have in this country. It taxes those most able to pay without doing any real harm to those that must pay. It only taxes the very wealthiest in our society. If I remember the figures correctly, less than 1% of the entire population of the United States stand to pay the estate tax. Even then, they will still inherit a very, very sizable sum of money. Enough money that they won't have to work to live comfortably, even opulently. Consequently, they are not harmed and society at large benefits. If it comes down to funding education or repealing the estate tax, education obviously is the wiser choice.

Maybe this will teach more of those college kids to get out and vote. Expensive lesson in the ways of the world, especially when the GOP is in charge.

If all those who whine about the evils of the "death tax" get any dumber, they'll need to be watered twice a day.

The agenda of lightening the tax burden for the Paris Hiltons and Jenna Bushes at the expense of people who actually work for a living, cloaked in lies and deceit about saving the family farmer and corner drug store, is one of the most dishonest, disingenous, and disgusting Big Lies in modern history.

Republicans have been peddling this regressive garbage for years. Too bad Marion Berry, Mike Ross and Blanche Lincoln are accomplices in this load of fradulent B.S.

But Congress got their pay raise!
Nice analogy Billy.
Let's see we got;
Gay Marriage out of the way
Flag Burning out of the way
No abortion amendment
What's next? A ban on any unkind words about the Chimpster in Chief?

What we don't have is a;
Sustantive Immigration policy
A trillion dollar debt and counting
$3.00 gas with record oil company prices
40 million uninsured
An unending and deadly war that is sucking our treasury away
Cuts to Veterans
I could go on and on -
And these people work 140 days a year - where do I apply?

Billy NLR...you, sir, are a theiving vulcher. A bottom feeding theiving savage. Stealing from a dead person. You are dispicable and eat up with class envy. If you had a home woth 200,000 and 100,000 in cash and died then your kids should also have to pay 150,000 in estate taxes , right. Fair is fair. Every one should pay. Don't like that possibility do you?

4:43, you crack me up!

But you're not very well informed.

Stick around, kid, you might learn something.

4:43 - the cap is 1.5 million without one red cent owed in estate taxes. If you are going to use anolgy, for God sakes use one that make sense.
And try and tone it down a little, you sound like a teeny bopper trying to sound like you know what your talking about and you come off sounding a looking like a raving idiot. Substance boy!

These Democratic congressmen trying to make student loans more affordable for Biff and Amber, the little darlings who likely either don't vote or vote Republican. Now, what's wrong with this picture? Perhaps we should enjoy the specter of them sitting out a semester or three, busting their asses for slave wages somewhere.

Or, we could send them off to war - OH that's right little Republican don't do war - they have different priorities.

I know exactly what I'm talking about. My anolgy is to show that if the law was the same for everyone as it should be then Billy NLR would start backing up. If we have a death tax then every one should pay. Fair is fair. You cannopt dispute that. Would you want your kids to pay a tax at your death even if you estate was worth 300,000? Of course you would not. Then my kids shouldn't either.

It's so stupid to argue that every income/estate should be treated exactly alike under our tax system, I can barely play the understand-their-way-of-thinking exercise. It's not complicated: Millionaires should pay more than those who aren't.

I know exactly what I'm talking about.

Posted by: Anonymous | June 30, 2006 05:11 PM

NOT


'A fool and his money are soon parted.'
Ass'o'symouse

Everyone should pay for any income they receive. Right now inheritance income is not taxed. That's not fair to workers or investors who pay taxes on their earned income. Why should any unearned income be tax-free while workers and investors pay taxes on their earned income?

I'll keep asking the question until someone can answer it. So far nobody has.

Somebody grab a crayon so the boy can understand.

Here, l'll try. Here's an anolgy; You got a house you paid 100,000 for 20 years ago, today its worth 500,000. You die and leave it to the kiddies. The dead didn't pay taxes on the 400K appreciated value, only on the intial 100K investment. You just want to give the kiddies 500K tax free. What a country! If spouse one dies, it goes tax free to spouse 2 - but when spouse 2 is gone, somebody owes taxes in this analogy and its the kiddies.

Let?s pretend that the goal of this nation was to provide an egalitarian society where even the lowest among us could rise. Nice fantasy. If the world were fair and we all were born with equal opportunity then equal taxation might make more sense. But the world is far from fair and those that profit from this society owe the community where they gained for their wealth. Those born into a life of undeserved privilege defy the goal of a democratic society to provide equal opportunity. In no way has this ever kept parents from offering their children an inheritance but it has, at least minimally, paid lip service to an egalitarian society. Without being as insulting as I normally would prefer, it is baffling that people continue to support a government and party whose brazen assault on an egalitarian society is so obvious. The rich get richer and the poor continue to get fucked. Without the minimum of equal opportunity involved in education a society will perpetuate the educated and uneducated classes that deny an egalitarian goal. Does anybody remember that one of the first assaults on the Great Society was taking away the Basic Educational Opportunity Grants? This is but more insult to injury for the have nots dealt by an increasingly few haves.
Yeah, these Anon posts are either from somebody very wealthy, very stupid, or just doesn?t give a shit and think they?re cute. They most certainly are enemies of the people.

wrong...the county kept reassessing the value and you kept paying increased property tax year after year.

I don't give a damn what taxes were paid on it before they died. Their fucking kids didn't earn it. Their fucking kids didn't pay a penny in taxes on it.

Answer b and b's question:

Why should any unearned income be tax-free while workers and investors pay taxes on their earned income?

Get rid of the so-called death tax and tax those who get the unearned inheritance income. Is that so fucking difficult to understand?

Anon 4:43, that was trully a stunning display of intellect. Let me congradulate you on a post so devoid of reasoning and so full of slack-jawed yokelism. Truly, it was a work of art. I think I can answer you point for point though. Let's start at the top, shall we?

1. "Billy NLR...you, sir, are a theiving vulcher."
What exactly is a vulcher, and how would a vulcher go about stealing? Do they have articulated fingers and opposable thumbs? Or did you mean vulture? That being a bird, they would have difficulty grabbing anything to make off with.

2. "A bottom feeding theiving savage."
That's twice you've called me a thief. Do you know me personally? Have I stolen anything that you are actually aware of? Were you one of the guys whose girlfriend I seduced in college? Is that why you are are having trouble posting to me in an intelligible manner? As to the bottom feeding part, I will admit to a certain fondness for junk food. Its a bad habit I know, but not my worst sin.

3. "Stealing from a dead person."
Ah Ha! So this is who I've stolen from, a DEAD person. Let me start here by asking a question. Can one actually steal from a DEAD person? Seriously, do the DEAD actually own anything? They are DEAD, after all. Even if the DEAD could own property, what use do they have of it? Again, they are DEAD. Could it be that it isn't the DEAD that are being taxed? Could it be that it is the beneficiary of an estate that is being taxed? Would this beneficiary be recieving income and property that they did not previously own, therefore it becomes new income for that LIVE person. Should new income not be taxed? Or is the DEAD person sitting up and writing the check for the tax? If that's the case, I'd like to watch. And, I'll concede that if it is the DEAD person sitting up to cut the check, perhaps the law should be changed. It would be terribly inconvenient to have to rise from the grave to pay one last tax. I would tell my hiers that they should have saved me the trouble and PAID IT THEMSELVES. After all, it was income to them.

4. "You are dispicable and eat up with class envy."
I will also concede that I am despicable. I am, after all, a poor, miserable sinner. I am justly deserving of God's present AND eternal punishment. All I can say is this: I thank God daily for his Grace and forgiveness. To answer the second part of this comment, I am not "eat up with class envy." I am however "eat up" with frustration from watching the wealthiest one percent of the country look for a handout in the form of tax relief on the backs of the rest of us. Why should I have to pay more in taxes so that Paris Hilton can buy another jet, or snort some more cocaine?

5. "If you had a home woth 200,000 and 100,000 in cash and died then your kids should also have to pay 150,000 in estate taxes , right. Fair is fair. Every one should pay. Don't like that possibility do you?"
I have a couple of answers to this, your only true attempt at reason.
A. Fair is Fair, yes. And to be FAIR, people should pay according to their ability to pay. 25% of $100.00 does not equal 25% of $100,000,000.00. The remaining $75.00 of the $100.00 won't go nearly as far that the remaining $75,000,000 of the $100,000,000. Are those numbers too big for you, or do you get the picture?

B. If for some reason we did start taxing flat and universal like you suggested, I would try to make sure that my heirs could make their way in the world without my estate. And I would damn sure want the tax money I was paying in to go to something useful, like say EDUCATION. And you are right, I don't like that posssiblity. I do not like it because it is a fundamentally unfair way to tax, not because I would have to pay something.

yes maroon the property tax increased by a paultry 10% a year....max - if the assessor reassessed every year, which rarely happens. If the taxes were 1000.00 on the 100K then the real estate taxes on the appreciated value would of been, compounded over the 20 year period an additional $5115.909 in taxes.

Of course this is a moot point - since real estate taxes are for schools, infrastructure...etc.

Try again little man.

My children went to college on scholarships but needed student loans to help defray expenses. We did not qualify for any grants, only loans, due to the family income. Now they are out of college and paying back the loans. This kind of legislation hurts real people with real jobs who are struggling to make a better life for themselves.

Caution: 9 (sics) ahead....

"...are a (theiving) (vulcher). A bottom feeding (theiving) savage. Stealing from a dead person. You are (dispicable) and (eat) up with class envy. If you had a home (woth) 200,000 and 100,000 in cash and died() then your kids should also have to pay 150,000 in estate taxes (, )right(.) Fair is fair. Every one should pay. Don't like that possibility do you?"
Posted by: Anonyass

Looks like the inbred punk still has not lot learned a damn thing about grammar and punctuation. Even after trolling around on this board, the mite of a man can not seem to soak up a drop of English.

It is useless to argue with the lil feller, a total waste of words. Might as well try and piss up a rope, herd cats or teach shrimp how to whistle.

It will suit me fine just to do an occasional slap down of his low brow, blatant ignorance. Forget any semblance of reasoning, you do not reason with an pesky insect.

"Maybe this will teach more of those college kids to get out and vote. Expensive lesson in the ways of the world, especially when the GOP is in charge."

And what can students do when Chancellor John White and the Huckabee-appointed Board of Rich Businessmen Trustees raise tuition every year? What are the chances of electing a governor who would break with tradition and appoint six Trustees on some basis besides personal wealth or demonstrated devotion to the razorbacks?

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