Fri Apr 27, 2012, 12:54 PM

shawn703 (1,683 posts)

House OKs bill to cap student loan rates

This discussion thread was locked as off-topic by dixiegrrrrl (a host of the Latest Breaking News forum).

Source: MarketWatch

WASHINGTON (MarketWatch) -- Defying a White House veto threat, the House on Friday passed a Republican bill to keep interest rates on federal loans to college students from doubling on July 1. The nearly $6 billion cost of the House bill is paid for by taking money out of a prevention and public health fund included in President Barack Obama's health-care law.

Read more: http://www.marketwatch.com/story/house-oks-bill-to-cap-student-loan-rates-2012-04-27?siteid=bnbh

7 replies, 1587 views

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Replies to this discussion thread

7 replies	Author	Time	Post
House OKs bill to cap student loan rates (Original post)	shawn703	Apr 2012	OP
Game on	crazylikafox	Apr 2012	#1
I don't get it. Why do we have to "pay for" this? Interest rates are set by the banks, right?	AllyCat	Apr 2012	#2
I believe at issue are the subsidized student loans	shawn703	Apr 2012	#5
I'm pretty sure this is about the Stafford Loans.	groundloop	Apr 2012	#6
We gotta tread carefully in criticizing the use "pay-go" use of that ACA prevention fund, though	Seeking Serenity	Apr 2012	#3
GOP stupidity and war on women continues. GOP=Losers. nt	DippyDem	Apr 2012	#4
Locking. This is a duplicate of earlier story, found here:	dixiegrrrrl	Apr 2012	#7

Response to shawn703 (Original post)

Fri Apr 27, 2012, 12:57 PM

crazylikafox (1,588 posts)

1. Game on

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Response to shawn703 (Original post)

Fri Apr 27, 2012, 01:03 PM

AllyCat (7,520 posts)

2. I don't get it. Why do we have to "pay for" this? Interest rates are set by the banks, right?

So what does this have to do with anything about health care or the budget as a whole?

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Response to AllyCat (Reply #2)

Fri Apr 27, 2012, 02:00 PM

shawn703 (1,683 posts)

5. I believe at issue are the subsidized student loans

Where the government is paying part of the interest. Hopefully someone with more knowledge could clarify.

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Response to shawn703 (Reply #5)

Fri Apr 27, 2012, 03:15 PM

groundloop (2,009 posts)

6. I'm pretty sure this is about the Stafford Loans.

Someone correct me if I'm wrong, but I'm under the impression that what used to be "subsidized" loans through banks are now handled directly by the government - that was in a bill that got passed a year or so ago that the repubs hated because it cut their banker friends out of the equation.

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Response to shawn703 (Original post)

Fri Apr 27, 2012, 01:04 PM

Seeking Serenity (1,866 posts)

3. We gotta tread carefully in criticizing the use "pay-go" use of that ACA prevention fund, though

'cause Democrats voted earlier this year to use that same fund to pay for physicians' Medicare reimbursements. And the President's own budget called for tapping use of that fund. So, as I said, tread easily.

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Response to shawn703 (Original post)

Fri Apr 27, 2012, 01:07 PM

DippyDem (420 posts)

4. GOP stupidity and war on women continues. GOP=Losers. nt

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Response to shawn703 (Original post)

Sat Apr 28, 2012, 06:01 PM

dixiegrrrrl (30,866 posts)

7. Locking. This is a duplicate of earlier story, found here:

http://www.democraticunderground.com/1014108349

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