# The Bank On Students Loan Act **URL:** \ **Category:** Politics & Elections\ **Created:** [May 30, 2013, 2:43am UTC](https://boards.straightdope.com/t/the-bank-on-students-loan-act/659679 "2013-05-30T02:43:05Z")\ **Posts on this page:** 1\ **Showing post:** 39
**Author:** ![Honesty](https://avatars.discourse-cdn.com/v4/letter/h/f04885/32.png) [@Honesty](https://boards.straightdope.com/u/Honesty)\ **Post date:** [May 30, 2013, 10:55pm UTC](https://boards.straightdope.com/t/the-bank-on-students-loan-act/659679/39 "2013-05-30T22:55:09Z")
> [@ReticulatingSplines](#): > > The insane troll logic is linking the student loan rate to the discount window rate. There is absolutely no connection between the two, and neither you nor anyone else has offered any good reason why they should be linked. “Some people say that we can’t afford to help our kids through school by keeping student loan interest rates low,” said Senator Warren. “But right now, as I speak, the federal government offers far lower interest rates on loans, every single day–they just don’t do it for everyone. Right now, a big bank can get a loan through the Federal Reserve discount window at a rate of about 0.75%. But this summer a student who is trying to get a loan to go to college will pay almost 7%. In other words, the federal government is going to charge students interest rates that are nine times higher than the rates for the biggest banks–the same banks that destroyed millions of jobs and nearly broke this economy. That isn’t right. And that is why I’m introducing legislation today to give students the same deal that we give to the big banks.” “Big banks get a great deal when they borrow money from the Fed,” Senator Warren continued. “In effect, the American taxpayer is investing in those banks. We should make the same kind of investment in our young people who are trying to get an education. Lend them the money and make them to pay it back, but give our kids a break on the interest they pay. Let’s Bank on Students… Unlike the big banks, students don’t have armies of lobbyists and lawyers. They have only their voices. And they call on us to do what is right.” > [@My Solution -- Archie Bunker Lite](https://boards.straightdope.com/t/my-solution-archie-bunker-lite/82591/43): > > Right, because a politician never has any ulterior motives. But since you won’t take my word for it, try to find ANY “expert” out there who has come out in favor of the bill. Are you kidding? > [@](#): > > Harvard Law School. 1995-present: Leo Gottlieb Professor of Law; 2001-02, Radcliffe Fellow; 1992-93: Robert Braucher Visiting Professor of Commercial Law > The University of Pennsylvania Law School. 1990-1995: William A Schnader Professor of Commercial Law; 1987-1990: Professor of Law > The University of Texas School of Law. 1986-87: Jay H. Brown Centennial Fellow in Law; 1983-1987: Professor of Law. 1985-86: Conoco Faculty Fellow in Law; 1981-82: Visiting Associate Professor of Law > The University of Texas at Austin. 1983-87: Research Associate, Population Research Center > The University of Houston Law Center. 1981-83: Associate Professor of Law; 1978-80: Assistant Professor of Law; 1980-81: Associate Dean for Academic Affairs > The University of Michigan. 1985: Visiting Professor of Law > Rutgers School of Law (Newark). 1977-78: Lecturer in Law > J.D. Rutgers School of Law, Newark, 1976 > B.S. University of Houston, 1970 She might be a politician, but her vita (without pubs) outclasses every single person here, including yours. If we are to take your opinion over hers, could you post your vita for us to see? Thanks - Honesty --- _[View the full topic](https://boards.straightdope.com/t/the-bank-on-students-loan-act/659679)._