Terminate the Racket of College Loans

Terminate the Racket of College Loans
In pursuit of the truth - cinops be gone - Tuesday, Sept. 25, 2012

Eagle Forum Education & Legal Defense Fund, August 2012- Phyllis Schlafly, President - presents:

One of the ways to cut the big-spending binge engaged in by the federal government is to terminate the racket of college loans. It’s counterproductive, discriminatory, and bad investment for both taxpayers and students.

College-loan debt has soared to nearly a trillion dollars, more than credit-card or auto-loan debt. Financial commentators are beginning to compare college-loan debt to the housing bubble that nearly brought down the banking system in 2008.

However, it’s not the banks that will be the big losers if the bubble bursts. It’s the taxpayers, because the government is now on the hook for the majority of student loans.

Even worse is the burden on students. The debt requires students to keep paying for a product that lacks its advertised value either in education or employment opportunities. College education has been dumbed down to enroll more and more taxpayer-subsidized students, even if they take only remedial (a.k.a. high school) courses.

College-loan debt is a powerful deterrent to marriage and to getting on with life. Students cannot discharge the debt in bankruptcy, can’t get a job that justifies the loan, and may have had a lousy education.

For years we’ve heard the propaganda line that everyone should go to college and that a college degree will improve your status in life and standard of living. Not any more: in Obamaland, 53.6% of young college graduates are jobless or working jobs that do not require a college degree and don’t pay enough to retire the debt…

Then there’s the problem, as reported by the Washington Post, that nearly 30% of students with student loans drop out of college with debt but no degree. Of those who remain in college, the majority take 5 or 6 years, thus significantly increasing their debt…

Why do spokesmen of both political parties keep urging us to import more and more foreign college students and falsely tell us they are “the best and brightest”? And why do we let jobs subsidized by U.S. taxpayers go to foreigners?

In 2010 Obama gave $300 million of his Stimulus money to two Michigan plants to build electric to build electric car batteries. It turned out that the plants are owned by Koreans who outfitted their factories with Korean equipment & supplies & hired Koreans.

“… most colleges today are a hostile environment for conservatives and Christians. A new report by the California Association of Scholars called “A Crisis of Competence by the California Association of Scholars called “A Crisis of Competence: The Corrupting Effect of Political Activism in the University of California,” explains that college graduates are alarmingly ignorant about history, literature and constitutional government because many professors have replace real teaching with political indoctrination. Another cause of higher tuition rates is paying high-salaried professors to teach worthless subjects… It’s hard to avoid the conclusion that college loans are part of Obama’s policy to make as many as possible dependent on government … keeping young people out of the unemployment statistics and in the totals of those attending college. (Thank you Phyllis Schlafly!)

George H. Kubeck - As a retired public school teacher, it’s an abomination. It’s Anybody But Obama For President. This supreme leftist amateur must be voted out of office. I fear Chicago-type voting.