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View Diary: Federal student loan interest slated to rise back to 6.8% (43 comments)

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  •  Was at McDonald's yesterday (0+ / 0-)

    eating lunch and Fox "News" was on the Tee Vee.

    Don't know what show it was (it was 11am) and don't really care but one topic they were discussing is why don't we have credit checks for people applying for federal education loans. I just listened to bits and pieces of the program, but I think the gist of it had something to do with how many people have defaulted on their loans and something should be done about it. This was their answer.

    Really? Most kids out of high school or a few years out of high school don't even have a line of credit. Not only will the usual lending institutions deny you a loan for having bad credit, they will deny a loan if you don't have ANY credit history.

    In many cases the point of getting a student loan is to get a better education so that a person can get out of their shitty job and get a better job. Isn't that one of the Republicans' mantra, if you don't have a good job with good benefits and can't afford food and/or shelter and/or health insurance for your family, you only have yourself to blame and you need to be responsible for your life, and if we have any say in it the government isn't going to help you in any way, shape, or form?

    Twelve years ago my wife decided to go back to school and get a degree in education and become a teacher. She had been an assistant at one of the elementary schools, working in a special ed class. She loved it. But NCLB came along and she was disqualified from her job because she didn't have enough college course hours. She was devastated. So she went back to school to get the additional hours, and decided to go full speed ahead and go for a degree.

    A $60,000 loan later she still cannot find a job. For most of those 12 years she was caring for a terminally ill mother and father. Moving and relocating was out of the question. So now instead of mooching off the government as the Republicans would say, she is working as patient assistant at a rehab clinic, making $9 an hour and paying for her loan and for insurance for herself and my daughter (my employer would charge $800 per month for me to carry them, which is nearly one paycheck for me) and she is lucky to bring home $250 every two weeks.

    So yeah. Let's do credit checks on people and see how many people we can screw and say, oh no we aren't going to help you pay to better yourself.

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