Democratic California Rep. Maxine Waters: “Today, there are more than 44 million Americans that owe $1.56 trillion in student loan debt.”
Waters added, “Last year, 1 million student loan borrowers defaulted which is on top of the 1 million borrowers who defaulted the year before.” Then, she turned the questions on the bank executives, asking what they intended to do about the student debt crisis: “What are you guys doing to help us with the student loan debt? Who would like to answer first? Mr. Monihan? Big bank?”
The government took over student lending in 2010.
What she appeared to leave out was the fact that student loans were nationalized nearly a decade ago under former President Barack Obama to cut banks’ ability to offer government-backed loans.
“By cutting out the middleman, we’ll save the American taxpayers $68 billion in the coming years,” Obama said when he signed the legislation in 2010. “That’s real money.”
Waters now chairs the committee that oversees those student loans. More
The gov’t has no business being in the student loan business in the first place but the ultimate responsibility lies with the one who signs on the dotted line.
Allegedly smart people who are attending college agreed to loans and enjoyed party time for four years and now it’s time to **gasp** get a job and pay it back.
I’m not the least bit sympathetic if they took out $100,000 to get their gender studies degree and now can’t find a job except at McDonald’s.
It is absolutely amazing how ignorant so many liberals and progressives are in this country-truly baffling!
Waters Tries To Pin Student Debt Crisis On Banks — Forgets Student Loans Were Nationalized 10 Years Ago – The Daily Caller https://t.co/Rnrifnn751
— Jerry Falwell (@JerryFalwellJr) April 11, 2019
This embarrassment of a Congresswoman Maxine Waters challenged bank executives appearing to blame them for the student debt crisis. What she left out was student loans were nationalized a decade ago under Obama. She is the ‘chairperson’ of this committee. https://t.co/6GEkrmgrF3
— Fernando Amandi Sr. ???????? (@FernandoAmandi) April 10, 2019
When the chair of the Financial Services Committee isn’t aware that the government nationalized student loans 10 years ago, might be time to find a new chair.https://t.co/DiLfefyoHU
— Angus T. Kirk (@angusparvo) April 10, 2019