Tag Archives: Social Programs

Obama to nationalize student loans, how does that work in New Zealand?

Story from CNS News. (H/T Gateway Pundit)

Excerpt:

A bill currently before the Senate would empower the Obama administration to nationalize the student lending industry, eliminating the federally subsidized private loans millions of university students rely on to finance their educations

The Student Aid and Fiscal Responsibility Act – currently being considered by the Senate Health, Education, Labor, and Pensions (HELP) Committee – would eliminate the Federal Family Education Loan (FFEL) program. FFEL loans are federally subsidized and make up approximately 80 percent of the student lending industry.

According to the Department of Education, 14.3 million of the 17.5 million student loans were federally subsidized for the 2009-2010 fiscal year. Under Obama’s plan, the government would consume the entirety of this industry – a total of $103 billion in 2009-2010.

I wrote about the situation in New Zealand before. In New Zealand, they have a government-run system.

Excerpt:

Thousands of people with student loans are defaulting on payments, leaving the Government to chase hundreds of millions of dollars.

More than one in five borrowers – or 114,000 people – have overdue payments and thousands of students are leaving tertiary education with no qualification and big bills.

The Education Ministry’s student loan scheme annual report shows that $306 million in payments is overdue, a $100m increase from a year ago.

The substantial growth includes a big rise in the level of payments owed by people now living overseas, more than doubling to $114m.

New Zealand University Students Association co-president Sophia Blair said it was not surprising that students with loans were heading overseas and letting the bills mount. “You can earn higher wages [overseas].”

[…]Total student loan debt had reached $10.2 billion and is predicted to grow by an average of $875m a year to more than $20b by 2022.

The report also showed about 39 per cent of students who left tertiary education with a loan did so without achieving a qualification.

About 8000 students with loans who left study in 2005 had nothing to show for it by 2007.

Why can’t Obama take into account how radical leftist policies have worked in other countries? Let the free market work. Let people be responsible for their own decisions. Giving people things for free doesn’t make them take their education seriously. When someone pays out of pocket, they try harder, and they take serious courses to earn the money back. When a bank makes a loan, they actually care about getting the money back, so they may insist that students actually perform. On the other hand, the government is notoriously wasteful – it’s not their money. It’s your money.

Unemployment rate among men aged 25-54 is 19.4%

Check out this post over at Dinocrat. (H/T ECM)

Excerpt:

According to an analysis done by TIME Magazine’s Justin Fox, almost 20% of 25-54 year old men are unemployed today, a receord since the Bureau of Labor Statistics started keeping track of the data just after World War II. An unemployment rate of 20% among men in their prime is shocking. Absent the substantial government transfer payments today and the large labor force participation by women, the 20% male unemployment figure would be regarded as a national emergency.

Rome is burning. And yet Congress and the administration fiddle with crooked healthcare deals, tomfoolery such as AGW, perverse nonsense like cap and trade, imaginary “green” jobs, the treating of enemy combatants as mere crooks, etc. — and their policies towards hostile powers are even more ill-informed and provocatively weak. It’s hard to imagine a government more out of step with the people.

Here’s the graph from the Bureau of Labor Statistics showing the decline since 1948. (H/T Time Magazine)

This is actually important to me, and something I am thinking a lot about. I have come to realize that marriage is really an incubator for passing on values to children that are often different from those of the state. Scholars like Stephen Baskerville and Jennifer Roback Morse have argued that the family is a buffer against the power and influence of the state. This is especially true for Christian men and women whose values are definitely not those of the secular leftist state. But where do families come from? How do they start?

In order to have a family, a man marries a woman who agrees with his worldview and values, and then they have children. It’s the man’s role to lead the family by protecting and providing for his wife and children. But that man needs a job so that he can have confidence that he can fulfill those responsibilities. The earning of money is what gives a man the respect and authority in the home so that he can lead his wife and children. Any challenge to the man’s role as protector and provider diminishes his authority to lead.

Already, I am concerned about how the massive tax burden placed on working men causes them to have their authority whittled down, since the state confiscates much of a man’s money and then provides services that he really should be providing himself. Often the services provided (abortion, etc.) are not compatible with Christianity at all! But this new statistic about 19.4% of men in their prime being unemployed is even worse, because now men are earning no money at all! How can they start a family with no income?

There really isn’t much thought going on today about the problem of how to get men to marry and stay married. Instead, people are more focused on dealing with a variety of of grievances from victim groups. I’ve blogged before about the problems that men are having in the schools today, largely due to the application of feminist theory to education. No one seems to be concerned about whether men are doing well in school, and whether they are being raised in families with actual fathers, instead being raised by government subsidies.

I think that young people really need to stop and think about what they want out of life. There seems to be a tendency today among young people to think that relationships are about fun, and that it isn’t necessary to be careful about your choice of mate because the government will always be there to take care of you if you get into trouble, (e.g. – unplanned pregnancy, abusive spouse, etc.). This must stop. We need to stop looking at the government as a substitute for making solid, long-term choices about sex and marriage.

At some point we are going to have to ask ourselves whether we are ready to abandon the family entirely and just substitute sperm donations and government checks for men. If the state is the source of money in a child-producing unit, then the state is the one who calls the tune about what the children will believe. And make no mistake – academics on the secular left are salivating at the thought of pushing their values onto the next generation of children. That is why they are hostile to voucher programs and private schools.

Related stories

Some stories from last year about just a few the problems men are facing.

There are actually many other problems that men are facing that I could have brought up, but my focus today is on education and jobs. These are serious problems and they have serious consequences.