
If the tea party wants to win seats in Congress in 2014, it needs to
go for the jugular — and that means taking on the student loan crisis.
Americans are a combined $1.3 trillion dollars in student loan debt, thanks in part to incessant messaging that everyone needs to get a degree regardless of interest, ability, or earning potential. This massive burden on the economy will implode at some point and drag the faint gains of the housing market down with it. Lenders won’t approve a mortgage for a young person hemorrhaging $500 a month for student loan payments. That which can’t continue forever, won’t.
The untapped potential of this constituency on this issue could re-orient the political landscape. When’s the last time you heard a Republican pointing out that non-dischargeable student loan debt entrenches income inequality? With 40 percent of households run by someone under 35 struggling to bear the student debt burden, this should be a no-brainer for the tea party wing of the GOP, a great tactic to outflank Democrats and establishment Republicans alike.
But no one has jumped on this proposal yet. The Associated Press listed a few possible reforms this week that would lessen the student loan burden. All but one come from Democrats. What the hell, Republicans? Why are you letting your opponents lead the charge on a fiscally conservative issue?
Massachusetts Democratic Senator Elizabeth Warren is slamming the federal government for renewing its lucrative contract with by Sallie Mae, a company that violates consumer protection laws and rakes in millions in profit. Communist Van Jones is over at CNN, shaking his pinko fist at the system that cruelly locks borrowers into seven percent interest rates. President Barack Obama implemented the Income-Based Repayment Plan back in 2009, which lets borrowers negotiate payments that won’t gobble up half their
Americans are a combined $1.3 trillion dollars in student loan debt, thanks in part to incessant messaging that everyone needs to get a degree regardless of interest, ability, or earning potential. This massive burden on the economy will implode at some point and drag the faint gains of the housing market down with it. Lenders won’t approve a mortgage for a young person hemorrhaging $500 a month for student loan payments. That which can’t continue forever, won’t.
The untapped potential of this constituency on this issue could re-orient the political landscape. When’s the last time you heard a Republican pointing out that non-dischargeable student loan debt entrenches income inequality? With 40 percent of households run by someone under 35 struggling to bear the student debt burden, this should be a no-brainer for the tea party wing of the GOP, a great tactic to outflank Democrats and establishment Republicans alike.
But no one has jumped on this proposal yet. The Associated Press listed a few possible reforms this week that would lessen the student loan burden. All but one come from Democrats. What the hell, Republicans? Why are you letting your opponents lead the charge on a fiscally conservative issue?
Massachusetts Democratic Senator Elizabeth Warren is slamming the federal government for renewing its lucrative contract with by Sallie Mae, a company that violates consumer protection laws and rakes in millions in profit. Communist Van Jones is over at CNN, shaking his pinko fist at the system that cruelly locks borrowers into seven percent interest rates. President Barack Obama implemented the Income-Based Repayment Plan back in 2009, which lets borrowers negotiate payments that won’t gobble up half their