Republicans' lousy economy has really shafted American college students

Student loans have been among the easiest and cheapest loans to get -

allowing millions of Americans to go to college as long as they

promised to pay the bills after graduation.

...................................................................................................

The slowing economy has many parents in worse financial shape than in

the recent past.

Some have lost jobs or houses, or seen their credit ratings drop.

And home equity lines - a source of college borrowings for as many as

a third of parents, estimates James Boyle, president of College

Parents of America - also are going to be less reliable this year.

Not only have home values fallen, but banks are less eager to extend

these loans.

"Lots of parents are very nervous about it," said Karen Busanovich, a

Woburn financial planner who specializes in student loans.

"Home equity has been a good source in the past. Now they're saying, I

don't have the equity in my home that I once had."

From The Boston Globe, 4/17/08:

http://www.boston.com/business/personalfinance/articles/2008/04/17/credit_crisis_hits_student_borrowers/?rss_id=Boston.com+--+Latest+news

Credit crisis hits student borrowers

Short of funds, lenders cut back

By Beth Healy

Globe Staff

The credit market crisis is spreading to student loans.

Norton thought he was set when he deposited a $16,000 student-loan

check to pay for summer classes and the fall semester.

But when he started to pay bills for classes, rent, and other expenses

last week, his checks bounced.

He was one of 500 students left in the lurch with the April 7

bankruptcy filing of The Education Resources Institute Inc., a Boston

nonprofit that guarantees student loans.

And his ordeal is only the latest example of chaos in the college loan

market.

More than 50 firms have abandoned or cut back their federal or private

student loan programs this year, unable to raise money in the

financial markets.

Yesterday, Citigroup, one of the largest private lenders, said it

would stop lending at some schools and end its federal loan

consolidations.

_________________________________________________

Ya gotta thank the Republicans for this wonderful accomplishment.

Harry

> Ya gotta thank the Republicans for this wonderful accomplishment.

>

> Harry

Republicans feel that education is unnecessary, since they can get all the

labor they need by importing it or offshoring it.

In article <XuqdnWAt1dHYlZXVnZ2dnUVZ_o3inZ2d@comcast.com>, endthewar@now.com

says...

>

>

>> Ya gotta thank the Republicans for this wonderful accomplishment.

>>

>> Harry

>

>Republicans feel that education is unnecessary, since they can get all the

>labor they need by importing it or offshoring it.

>

>

My daughter and grandchildren live in England. My daughter will be 50 next

month. She is in a full time BSc program at university there and will obtain

her nursing degree in another year or so. Doesn't cost her a penny. One boy

got three As and a B on his A Levels and is at University studying

engineering. Doesn't cost him a penny. Other boy did not go immediately to

university but has seen the error of his ways and is now going to school to

bring him up to A level so that he too can go to University. Doesn't cost

him a penny. The girl, 18, is in art school and will move on to university

level next year. Doesn't cost her a penny. The UK government is making a big

investment in these people in the belief it will pay off -- and it does.

Talent and intelligence don't go to waste for lack of money to finance

higher education. A doctor friend of ours here, pushing 50 himself, has just

paid off his student loans which have been a drag on him for many years.

Which nation has the better education policies?

Harry Hope wrote:

>

> Student loans have been among the easiest and cheapest loans to get -

> allowing millions of Americans to go to college as long as they

> promised to pay the bills after graduation.

>

>

> Yesterday, Citigroup, one of the largest private lenders, said it

> would stop lending at some schools and end its federal loan

> consolidations.

>

> _________________________________________________

>

> Ya gotta thank the Republicans for this wonderful accomplishment.

>

You didn't explain why Republicans are to blame for any of this.

--

"Question, two men starving to death decide to eat their hair like

spaghetti. Is that funny?"

"Hmmm, well, it depends on if by funny you want to make people

laugh."

-+Eddie Izzard and Joanna Lumley, "The Cat's Meow"

"Harry Hope" <rivrvu@ix.netcom.com> wrote in message

news:hqsf04h0kgoenrlv2nvj881696inupdrb7@4ax.com...

> Student loans have been among the easiest and cheapest loans to get -

> allowing millions of Americans to go to college as long as they

> promised to pay the bills after graduation.

> ..................................................................................................

> The slowing economy has many parents in worse financial shape than in

> the recent past.

What are the Democrats in Congress doing about this?

<lorad474@cs.com> wrote in message

news:6f2407a5-6700-4c82-aa73-14e44996a986@24g2000hsh.googlegroups.com...

On Apr 18, 8:10 am, "Patriot Games" <Patr...@America.com> wrote:

>> "Harry Hope" <riv...@ix.netcom.com> wrote in message

>> news:hqsf04h0kgoenrlv2nvj881696inupdrb7@4ax.com...

>> > Student loans have been among the easiest and cheapest loans to get -

>> > allowing millions of Americans to go to college as long as they

>> > promised to pay the bills after graduation.

>> > ...........................................................................

"ajames54" <ajames54@hotmail.com> wrote in message

news:81c3fffa-0d33-4435-bbe7-f04c585bb64b@t63g2000hsf.googlegroups.com...

On Apr 18, 5:52 pm, "Patriot Games" <Patr...@America.com> wrote:

> <lorad...@cs.com> wrote in message

> news:6f2407a5-6700-4c82-aa73-14e44996a986@24g2000hsh.googlegroups.com...

> On Apr 18, 8:10 am, "Patriot Games" <Patr...@America.com> wrote:

> >> "Harry Hope" <riv...@ix.netcom.com> wrote in message

> >>news:hqsf04h0kgoenrlv2nvj881696inupdrb7@4ax.com...

> Why should MY TAX MONEY from Florida help pay for some quota-based negro

> in

> Detroit to get a free college education?

> Why do you bleeding heart Socialists always want something for free?

As hard as it is I'll ignore the ignorant racism and point out that

those with higher levels of education are more productive. That means

they generally contribute more to society, they often hold down better

jobs and pay more in taxes. I'm sure you would like some help paying

all those nasty tax bills you whine about.

===========================================

Your newsreader doesn't quote properly. Fix it.

Nope, I don't need help paying my taxes.

No, I don't want to fund the educatin of ANYBODY other than my children, my

grandchildren, and MAYBE some people in MY STATE.

==========================================

Try thinking about it as an investment.. buy a kid an education today

and in 10 years he is earning enough to start paying high taxes..

taking some of the burden off you.. in 20 years he has paid it all

back... and after that he is saving you tax money.

====================================================

Bullshit.

============================

Or he could quit school because there is no chance for him, go on

welfare.. have a few kids.. how much will that cost?

===========================================

If we CANCEL Welfare it won't cost me ANYTHING.

If the LOSER in NOT in MY STATE it should't cost me anything,

===================================

You're a Socialist FOOL.