Recent Posts

John Kline enters Maher flip a district

by Eric Ferguson on April 30, 2014 · 3 comments

Finally, some national attention for Rep. John Kline, (R – for-profit education industry). Kline is chair of the House Education Committee, and his record, well,
 

 
Kline must be hoping young adults don’t vote, because the student debt issue is a huge vulnerability for him. In case anyone from the Mike Obermueller campaign sees this, Kline is vulnerable on the student debt issue. Maher mentioned that students got his attention with a Twitter campaign using the hashtag FlipADistrict. This tells us that Twitter can work to get attention (if that’s news, welcome to the 2010′s), that students care a whole bunch about the student debt issue, and at least some of them are aware that Kline is trying to make their debt worse instead of better by not merely opposing loan forgiveness, but by actually trying to raise the interest rates.

 

Actually, Democratic candidates of all races, not just CD2, this is a huge issue for a demographic group we’re very concerned won’t bother voting. Being on the same side of an issue is nice; being on the same side of an issue likely to drive infrequent voters to turn out is something you need to talk about often.

 

Update: By the way, not small thing, Kline’s opponent Mike Obermueller could use some cash.

Mac Hall April 30, 2014 at 5:31 pm

It’s simple math
President Obama recognized that at the current low interest rates, the government was making money on students, so he proposed to tie the rate to US Treasuries and adder for processing and loan defaults.
At that time, President Obama would have taken the 3.4% rate to 2.72% while Chairman Kline’s would have raised rates to 4.31%. Now that Chairman Kline let the program end forcing the President to accept a proposal just so that students had something.
Today, the Kline-backed student loan program has been called a “profit-making machine” for the US Treasury and next year rates are forecasted to increase : Estimated new rate on loans taken out between July 2014 and June 2015 Direct Subsidized and Unsubsidized Loans (for undergraduate students) FROM 3.86% TO 5.09% Direct Unsubsidized Loans (for graduate/professional students) FROM 5.41% TO 6.64% Direct PLUS Loans (for parents and graduate/professional students) FROM 6.41% TO 7.64%.

That is real money … that is impacting student’s futures as they are forgoing buying new homes, etc.

Yes, the Obermueller campaign needs to hit Kline hard on this issue.

Mac Hall

Comments on this entry are closed.

{ 2 trackbacks }

Previous post:

Next post: