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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Maple MAGA who wrote (1454146)	4/28/2024 3:50:50 PM
From: i-node	Read Replies (1) \| Respond to of 1571414

I believe the student loan programs should be killed, entirely, or highly curtailed in support of STATE SUPPORTED SCHOOLS ONLY. If Harvard, or anyone else, wants to lend student money, they should fund it themselves out of their endowments. This "loan forgiveness" is one of the most egregious acts any president has undertaken; the proper act would have been to reduce interest rates to a very low level but continue to require payments against principal and very low interest. a) Biden and Obama are trying to expand radically the Medicaid program across the country. They want to include Medicaid benefits as part of ACA. The problem is the CBO review found it fell a trillion dollars short over the ten-year horizon. The entire ACA legislation it untenable without the Medicaid expansion portion, which was a catch-all for everyone who didn't buy insurance. b) A plan was hatched. Student loans were at the time mostly handled by banks and other institutions and interest rates were capped for the most part. The plan was: "We'll take over the student loans and raise interest rates coincidentally with the increased rollout of Medicaid benefits. That money will be used to pay for Medicaid under the ACA." c) During the years 5-10 of the ACA era, student loan rates were doubled -- putting them at a level where it was almost impossible for many students to repay them. This provided the several years of financing necessary for Medicaid expansion. d) Now, because students simply cannot repay their loans after government raised rates (most had no idea it was happening), Biden simply writes off the debt since now states have absorbed the Medicaid costs and adds it to the public deficit. e) This money should be considered as interest cost for ACA and should be capitalized costs for the ACA so that a truer cost of Medicaid expansion could be had.