Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Elizabeth Warren

BlueStreak

(8,377 posts)

5. And just to be clear about the numbers, Stafford loans cost 6.8%

Reply to MannyGoldstein (Original post)

Wed May 8, 2013, 04:43 PM

May 2013

see http://www.staffordloan.com/stafford-loan-info/interest-rates.php

while the federal funds overnight rate is -- well it is as close to zero as you can get.
http://www.moneycafe.com/library/fedfundsrate.htm

The TARGET rate is ZERO to 0.25%. That's one quarter of one percent on an annual basis. In other words, if the banks ever had to pay that at the top of the range (and they don't), Stafford loans still cost TWENTY-SEVEN TIMES MORE than the deal we give the banksters.

Cannot edit, recommend, or reply in locked discussions

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

19 replies

= new reply since forum marked as read

Highlight:

Elizabeth Warren: Give students the same deal as big banks [WITH EDIT] [View all] MannyGoldstein May 2013 OP

I love Elizabeth Warren, and I hope she runs for President truebluegreen May 2013 #1

civilized nations give free health care too. DesertFlower May 2013 #2

+1000 truebluegreen May 2013 #3

One is reminded of the Mahatma. Scootaloo May 2013 #10

He certainly nailed that one... think May 2013 #13

No argument on anything you've said. Education should be free and accessible to all, and... MANative May 2013 #4

I'm good with that... truebluegreen May 2013 #6

Agree! Mr. Evil May 2013 #15

And just to be clear about the numbers, Stafford loans cost 6.8% BlueStreak May 2013 #5

This is exactly how they should word it: "Give students the same deal as big banks" BlueCaliDem May 2013 #7

+1 Politicub May 2013 #8

KUDOS to Senator Warren. bvar22 May 2013 #9

But... but... she's not triangulating! MannyGoldstein May 2013 #12

Obviously just another impractical "Purist" "Fringe Leftist" . bvar22 May 2013 #18

I worry too. Mr. Evil May 2013 #17

I'm emailing Senator Warren with a thumbs up. And circulating this information LuckyLib May 2013 #11

98 more like her! think May 2013 #14

I approve so long as it is made permanent and retroactive to existing loans Demo_Chris May 2013 #16

Great idea! Where is Hillary on this? grahamhgreen May 2013 #19