Posted: 04/25/12 14:08
by Dave Mindeman
Congressman John Kline, chair of the Education & Labor Committee, who can't find a way to fix NCLB, wants to double rates on student loans.
He's worried about taxpayers...
"We must now choose between allowing interest rates to rise or piling billions of dollars on the back of taxpayers," Kline said in a statement.
So Kline chooses to pile those billions on students as a future personal debt load.
I often hear Kline and his ilk, complaining about how the deficit is placing a debt burden on the next generation. Well, if we don't find an economical alternative to helping them pay for a college education, they will have, not only our debt, but their own as well. And without a job.
Over the course of the Republican "austerity" program, their efforts to keep tax rates lower for millionaires and billionaires has meant cuts to Universities... which has passed those costa along as tuition hikes.
Students are hung up in the perfect storm. Good jobs require education...often advanced education. Universities, absent state and Federal help, are raising tuition. Students are forced into paying for college via loans and now the loan interest is about to double. This storm is brought to you by John Kline.
To add further irony to the situation, Kline is complaining about a program that was originally signed into law by George W. Bush and now is endorsed by current assumed nominee Mitt Romney.
Still Kline thinks he can characterize it this way:
"Bad policy based on lofty campaign promises has put us in an untenable situation," Kline said in a statement.
The actual bad policy is coming from Kline's committee. And the untenable situation is being felt by the students.
Kline doesn't have a clue about the average family. None.