Do you think this student loan bill will create jobs?

[bluestateguy]

I am thinking that with the government assuming more responsibility for loans, in lieu of banks that the Education Department will need to hire more employees to process the load?

I thought of this after reading the slightly condescending statement from Sallie Mae that they were laying off 2500 workers, in part because of this bill. Then I thought that such people's services might be needed working for the government doing similar jobs.

[Walk away]

1. They have contracted with the original banks/companies to do the paper work.

This way we only pay them for the work they do instead of letting them make interest and penalties off of our money yet.......They already have the system in place so ...no jobs lost, no lag time! Good idea I think.

These Dems are smarter than they sometimes look!

[rox63]

2. I think the govt might hire some of the people from the banks that used to process these loans

But I don't think it will result in a net gain of jobs overall.

[iris27]

3. I think it will eliminate private-sector jobs and replace them with government jobs.

The banks will no longer need the loan originators who specialized in student loans...but the DoE will certainly need them. Zero-sum, overall. It will be neither a job creator nor a job killer.

[Walk away]

5. They have already hired the original bamks. nt

[Gman2]

4. Who gives a FUCK whether leaches prosper or not!

[notesdev]

6. We need REAL jobs

not government jobs

We as a country need to employ the people of this country in the business of actually making things. More paper shufflers are a step backwards.

To get there we need to do a couple of things.

First, we need to restore the rule of law. This situation where you can get away with anything if you are politically connected/supported, or simply large and powerful enough, has to end.

Second, we need a stable business environment. Right now nobody is spending because they don't know what is going to happen, and what they do know about is bad for business.

[juajen]

7. When I called Sallie Mae about my deceased husband's remaining student loan ,

I got someone from India. I could not understand a word they were saying. I called back and got another person with a decided accent from India. IMHO, they were outsourcing a lot of jobs. They deserved this and I approve Obama's position on this 100%.

[ChicagoSuz219]

11. Unless you co-signed it, I'm hoping you're not responsible for it...

I'm sorry about your husband.

[LostInAnomie]

8. We shouldn't preserve an immoral system for the sake of a few white collar jobs.

Ever notice that the loss of jobs are only a problem when it effects white collar jobs and people with lots of money?

When the jobs are blue collar it's somehow the worker's fault or just the free market at work.

[bluestateguy]

9. That is not what I was advocating

I was merely asking a question.

[maxsolomon]

10. that's not the issue

the issue is whether more students will be able to repay their debt and get a better education.

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