Student Loan Racket can get Ron Paul electedSubmitted by freezinghere on Wed, 01/11/2012 - 16:55
If you missed Tom Wood's excellent essay: “The Student Loan Racket: Ron Paul Right Again”, I wish you would read it, and then consider the fact that student loan debt in this country is now greater than credit card debt, at nearly One Trillion Dollars.
I've watched Doug Wead's television interviews, and on at least two occasions, he has singled out the usurious interest rates that lenders and the government are charging on student loans, so this is a problem to which Dr. Paul is attuned.
Look around at your own family and friends and I'm sure you'll see someone who is in trouble with student loans. It could be a recent graduate, a middle-aged student loan debtor who defaulted years ago, or a parent or grandparent co-signer. It could be you. Our own Michael Nystrom has written about onerous student loan debt in his family.
With this one issue alone, Dr. Paul will strike a chord with everyone in America, be they black, white or yellow-- Northern, Southern, Midwestern.....simply by adding the student debt bubble to the list of problems for which he has the solution: Allow the bad debt to be liquidated by restoring bankruptcy protections; and get control of the ridiculous amount of money the government and private sector Sallie Mae-type lenders, throw at teenagers who are just entering college. This would cause colleges to put the brakes on their annual tradition of raising tuition.
Any parent of a college student who opposes limiting student loans, is a parent who is fighting to keep their child in debt.
Tom Woods on Student Loan Debt