Who will win the Student Loan battle? Bother parties want to keep the loans at 3.4%; they will rise to 6.8 automatically July 1 if a bill extending them is not passed. Thus, Congress has yet another issue to take to the finish line. This won't get resolved until June 30th -- another last day effort as usual! So, what are the differences in bills? AP's article describes some of the differences: First, all bills would keep student loans at 3.4 %. The republicans would pay for the loan program ($5.9B) by killing what they call a "slush fund" that is a Preventive Health fund that has the intent of aiding areas of the Obamacare preventive health objectives, such as breast cancer screening (please research the effectiveness of this type of screening), children immunizations, etc. The reason the Republicans call it a "slush" fund is because Obama already wanted to use $4B of it for OTHER items in HIS BUDGET! Plus, the Democrats earlier, before a bill was passed to continue paying doctors instead of lowering their Medicare fees, wanted to subsidize the doctors [for the mistake they made to lower the fees]. Meanwhile, the Democratic Senate will probably write their student loan bill targeting HIGH-EARNERS in PRIVATE companies for a tax. NOTE: PRIVATE companies, NOT government earners [like THEM, or agencies. Democrats want to pick and choose who they will hurt [no lobbying here, huh?].
Compromise? Increase student loans to 4% [good times are ahead] and limit college property and facilities growth to no more than 10% per year for 2 years [reduce payments to them if they exceed]. Cut the "slush fund" by 60% and allow NO BORROWING or USE except for specifically defined, and no other way supported, preventive care. Provide incentives for not only high-earners , but also rich people to DONATE to the trust fund that is administered by a PRIVATE corporation to administer the loans WITHOUT GOVERNMENT BIAS as to who can get them.
WHY is government always in the way instead of ever coming up with a workable solution. WHY do we even need government to provide loans to students?
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