Republicans' "relief" plan for students is a gift to banksters!

While Democrats are working to provide college students with real relief, Republicans just want to give the banksters another big handout.

Last week, Republican Senators Kelly Ayotte and Shelley Moore introduced the so-called “Student Loan Relief Act,” which has more to do with helping banks than any real relief for students.

That legislation would allow students to refinance their loans at private banks, but it wouldn't require those banks to take on any of the risk.

Those loans would still be guaranteed by the federal government, but it would banks, instead of taxpayers, who rake in all that interest. And, it would leave students vulnerable to the scams and schemes of the banking industry.

All we have to do is look to the homeowners who were the victims of illegal foreclosures to see why this proposal would be horrible for students.

If Republicans really want to provide students with relief, they should help make public college free for all students – it's that simple.


Hephaestus's picture
Hephaestus 7 years 33 weeks ago

It would be that simple Thom if uk / us did not live under a system named fascism

Two world wars were fought to prevent such system dominating our free world

Why do we collectivelly engage in believing propaganda?

tom kauser 7 years 33 weeks ago

Dodd-frank has limited banks from taking the risks of the past. The Banks have to become more creative with old business? Such things as refi student loans to get their claws even deeper into young people or attacking the market cap. of Walmart to force mass layoffs? The faces of my co-workers said it all "the biggest company in the world just went broke"! OVERNIGHT? This raid has been brewing and is not going to be an isolated incident? Bankers need massive disruption to make money in an economy where billionaires hoard assets to make fear videos about how hard they have it? Do we really need a 4 trillion dollar emergency fund over at the FEDERAL RESERVE BANK OF N.Y. when banksters are trying to break companies down or further indebting our brightest young people?

cccccttttt 7 years 33 weeks ago

Free tuition for community college or trade school.

No loans, no scum bag bankers.

Just pass an exam to show mastery of prerequisite skills.


RFord's picture
RFord 7 years 33 weeks ago

That sounds like a republican idea, taking on the public's concern and seeing which of their party's corporate backers they can help in the process, you know, doing something in the name of good while doing something that's actually in the name of greed. That is, doing something that they say will help a problem but will actually make matters worse and the only beneficiaries are the corporations (in this case the banks), millionaires , and the politicians who get more campaign funds and the promise of a lucrative career after politics. Just about everything republican politicians propose has this blueprint.

LightShifter's picture
LightShifter 7 years 33 weeks ago

Aye Thom,... I concur Reptilians should come up with SOLUTIONS... But they have brains the size of a pea remember? Extinction seems to be the onlt solution and if Democrats don't get out there and VOTE, that won't happen.... "Bernie 2016 - Because FTS!"

The Other Katherine Harris's picture
The Other Kathe... 7 years 33 weeks ago

More education without more jobs means massively more dissatisfaction -- not to mention more college debt, which should be reduced in the future by bringing colleges back to teaching, instead of hiring twice as many administrators as instructors, building campuses like destination resorts, pouring hundreds of millions into sports and financing themselves like hedge funds and/or political candidates, while paying poverty wages to the youngest profs who actually do the work (as part-timers with no benefits).

Putting taxpayers on the hook for yet more largesse to the criminally greedy is really stupid. Yes, students need help with their onerous debt and must have it, but making it easier for kids to attend colleges like these (or patronize the for-profit scams in strip malls that cost even more) isn't a correct answer to anything.

ckrob's picture
ckrob 7 years 33 weeks ago

Klein's comment that the problem is not "just carbon" reminds us that the first step in solving a problem is defining what's inside the total problem-space. Only then can we set up an intelligent, practical series of programs focused on an effective solution. Decentralized power, both in the literal and figurative senses, will be a central and necessary component.

An aside: We need a NASA for solar energy to quickly improve efficiency of panels, energy storage and bidirectional distribution techniques.

ckrob's picture
ckrob 7 years 33 weeks ago

BTW Thom, NLP 101 teaches us that it's "remember" rather than "don't forget."

Thanks for your shows and to the folks who support same. (I still miss the Friday tribute to your father and the Sachmo theme.)

ckrob's picture
ckrob 7 years 33 weeks ago


Assemble a group of S's who did not watch the first Dem. debate but who thought Clinton won because they were told so by the media. Have them watch the complete debate and see:

1) how many change their opinion,

2) do those who change their opinion have any observations about the media's performance,

3) what proportion stay with the media's opinion?

Kend's picture
Kend 7 years 33 weeks ago

If you want to make education affordable, it's simple. Fifty percent of students fail. Charge them double and give the ones that pass it for free. This way only the students that are serious about there education will go and save tax payers millions.

Instant-RunOff-... 7 years 33 weeks ago

Best thing to do is require all student loans be made from public banks at 1% interest. Why let private banks create the money for the loans out of thin air, and then get to charge an exhorbitant interest on that money.

How One State Escaped Wall Street’s Rule and Created a Banking System That’s 83% Locally Owned:

Allowing private banks to create our money supply out of thin air is the greatest case of welfare in the history of human civilization. They aren't even taxed on that gift.

Thom's Blog Is On the Move

Hello All

Thom's blog in this space and moving to a new home.

Please follow us across to - this will be the only place going forward to read Thom's blog posts and articles.

From The Thom Hartmann Reader:
"Never one to shy away from the truth, Thom Hartmann’s collected works are inspiring, wise, and compelling. His work lights the way to a better America."
Van Jones, cofounder of and author of The Green Collar Economy
From Screwed:
"Once again, Thom Hartmann hits the bull’s eye with a much needed exposé of the so-called ‘free market.’ Anyone concerned about the future of our nation needs to read Screwed now."
Michael Toms, Founding President, New Dimensions World Broadcasting Network and author of A Time For Choices: Deep Dialogues for Deep Democracy
From The Thom Hartmann Reader:
"With the ever-growing influence of corporate CEOs and their right-wing allies in all aspects of American life, Hartmann’s work is more relevant than ever. Throughout his career, Hartmann has spoken compellingly about the value of people-centered democracy and the challenges that millions of ordinary Americans face today as a result of a dogma dedicated to putting profit above all else. This collection is a rousing call for Americans to work together and put people first again."
Richard Trumka, President, AFL-CIO