If you think the federal student-loan program looks like a bad deal for taxpayers, imagine how it would look with honest accounting. And now you don't need to imagine thanks to a new report that's receiving far too little attention. Turns out that the official "savings" for taxpayers of $184 billion over the next decade really add up to $95 billion in losses. Here's the scam: Lawmakers peddle wha... Read more »
The Supreme Court has been busy making headlines this week. One decision in particular could have significant implications for America’s workplaces and our constitutional system of checks and balances. The court agreed on Monday to consider whether President Obama’s non-recess recess appointments to the National Labor Relations Board are constitutional. Education and the Workforce Committee Republ... Read more »
For the third time in as many weeks, Republicans used their weekly address to push Senate Democrats and President Obama to act on federal student loan rates, which are set to double July 1 unless Congress and the president can agree on a proposal that prevents the rate hike. "As you may know, millions of student-loan borrowers could soon see their interest rates double from 3.4 percent to 6.8 per... Read more »
Obama Appointments Unconstitutional On January 4, 2012, President Obama made three so-called recess appointments to the National Labor Relations Board (NLRB) while the Senate was not in recess. These appointments were unprecedented—no other president has made recess appointments while the Senate was in session. A year later, the U.S. Court of Appeals for the District of Columbia unanimously held ... Read more »
‘Obamacare’ benefits mandate could further phase out full-time work President Obama’s health care reform is prompting employers to hire more part-time and temporary workers to escape paying benefits under a mandate that goes into effect next year, amplifying a trend toward transient employment that took hold during the recession, according to a growing number of economic indicators. Hardest hit b... Read more »
There may be few issues that Republicans and Democrats agree on these days, but protecting college students and graduates from sky-high student loan rates should be one of them. The Smarter Solutions for Students Act, currently pending before the Senate, ties student loan rates to the market instead of leaving interest rates up to politicians’ whims. On July 1, these rates are set to double from ... Read more »
On Saturday Representative Luke Messer (R-IN) discussed the Smarter Solutions for Students Act (H.R. 1911) in the weekly GOP address. Recently approved by the House of Representatives, this commonsense legislation would stop new subsidized student loan interest rates from doubling on July 1st. During his remarks, Rep. Messer explained how H.R. 1911 is a long-term, market-based solution that takes ... Read more »
Since the early days of his administration, President Obama has enjoyed a reputation as a higher education reformer. Just over four years ago he told a joint session of Congress that the country would regain its place as the most educated nation in the world, and his student loan reform bill phased out the role of private lenders in the federal aid system. Two years ago he famously warned college... Read more »
By Rep. John Kline (R-MN) Last summer, debate about student loans reached a fever pitch thanks to a scheduled increase in the interest rate for subsidized Stafford loans made to undergraduate students. The president began touring college campuses, calling on Congress to prevent the increase that his own party set in motion in 2007. As I said at the time, no one wanted to see interest rates double... Read more »
President Obama's 2014 budget calls on Congress to prevent a doubling of interest rates on student loans and make the rates "more market-based." Last week House Republicans and four Democrats voted to prevent the rates from doubling and make the rates more market-based. Naturally, Mr. Obama is sitting down with the leaders of both parties in a good-faith effort to iron out their remaining differe... Read more »
