Monday, June 24, 2013

Student Loans and Maximum Profits?

The # 1 purpose of a bank is to make a maximum profit off every loan.

 Did you ever wonder what happen to our Great Country's usury laws?
 
I define usury as the practice of making unethical or immoral monetary loans which also includes much more than just the interest rate, it also includes how the loan is calculated to insure the maximum penalties,interest and fees! Once your behind  the loan just continues to compound the loan amount which continues higher and higher...... with no chance to ever pay off even the interest  now! In debt for life

u·su·ry

  [yoo-zhuh-ree]  Show IPA
noun, plural u·su·ries.
1.
the lending or practice of lending money at an exorbitant interest.
2.
an exorbitant amount or rate of interest, especially in excess of the legal rate.
3.
Obsolete . interest paid for the use of money.
Origin: 
1275–1325; Middle English usurie  < Medieval Latin ūsūria  (compare Latin ūsūra ), equivalent to Latin ūs (us ) (see use) + -ūr ( a ) -ure + -ia -y3

President Obama and our Congress want us to believe it's all about the interest rate and while that is very important equally important is how the loans are calculated.

Sounds great! Simple interest with accrued interest.
It's calculating the interest every day, there is no grace period on student loans??Student loans are set up for maximum penalties and fees?

Our mortgages have a grace period most due on the 1st but no late fees till  after the 15th!

Banks are in business to make a profit, and yes I understand that, but not on the backs of our children
the future leaders of our Great Country.

These type loans were not challenge, because there was no competition! The banks had a monopoly!
The banks created a Profit Center with Maximum Profit and even had the bankruptcy laws changed so student loans can not be discharge the debt except under extreme circumstances?

Do not forget this took our Congress Votes  to give the banks this kind of Power!

This is starting to change with social financing www.sofi.com created by Alumni helping finance
their Alumni future. SoFi is adding more Universities to their Alumni list daily! There are other social programs available. I would suggest you look here first for future loans or re-financing your present student loans
Our own government made an estimated $50 Billion in 2012 with profits going back into the broken system!

I have Proposed Harvard to set up their own "Harvard nonprofit Bank" to  offer a low fixed interest loans  to their students .I believe the loan could as be as low 3% ?

Harvard has the largest endowment fund estimated at $30 Billion in the world!   Harvard provides 60% of their University's Scholarships now! The Bank would help to make Harvard accountable for their students and well as their own future.It's possible that part of endowment funds would be saver here.There was  a reported 27.3% or $11 Billion loss during the down turn in the economy .
Source Boston Globe/ Boston.com  September 10,2009

I believe this would help to lower the cost of tuition!

I Propose this type of new business model that would put education and student loans first, before
the profits!

I will say again until the profits are taken out of education and student loans there will be no solution!


Little food for thought who wrote our Great Country's laws?

The bankers, lawyers, and the elite! (Old Rich white guys!)

Ever wonder why?

Our laws never written in black and white always left in that gray area?
Does anybody understand our tax laws and why we should need a tax professional?
Tax credits "Given" to Big Business making huge profits and sending these huge profits off shore?

                             "Trickle from the Middle Up and Down Theory"

Why not allow small Business the tax credits to hire graduates and help pay back student loans?.............. Putting our tax dollars back into Our Own Economy?



How do you defeat your enemy

conquer and divide

Republican and Democrats?

I love this Great Country !

We have been told all of our life's work and study hard and you can live

The American Dream!