As we discussed on Friday, an important fight is brewing over student loan interest rates, with policymakers facing a July deadline before rates for federal Direct Stafford Loans double. If Congress doesn't act, more than 7.4 million students will face, on average, an additional $1,000 in debt.
The Obama White House and congressional Democrats are eager to keep rates where they are, while congressional Republicans want the lower rates to expire in two months. Yesterday, presumptive Republican presidential nominee Mitt Romney announced he agrees with ... the left. Here's the video, which The Ed Show aired last night.
For those who can't watch clips online, Romney said:
"...I fully support the effort to extend the low interest rate on student loans. There was some concern that that would expire halfway through the year, and I support extending the temporary relief on interest rates."
In the short term, this may give Dems an additional edge in the legislative fight -- it's bound to be at least a little helpful to have the Republican presidential candidate endorse the Democratic position.
But in the bigger picture, we have another clear example of Romney shaking the Etch A Sketch as he transitions to the general-election phase of the campaign. Last week, it was immigration policy, and this week, it's student loans.
In both cases, however, Romney is really only giving the appearance of moderation.
On immigration, the Romney campaign tried to put some distance between the former governor and his right-wing immigration advisor, Kris Kobach, and leak word that Romney doesn't really believe his own anti-immigrant rhetoric, but his policy agenda remained unchanged.
On student loans, Romney is now on board with Obama's plan to keep interest rates at their current level, but the Republican's almost-strident opposition to helping Americans afford college tuition hasn't budged.
Let's not forget that it was just last month when Romney, still pandering to his party's far-right base, explained that families worried about affording college tuition should expect no help from a Romney administration. Indeed, the former governor said students should shop around for colleges with the best rates, because Americans will be on their own.
What's more, Romney also endorsed Paul Ryan's House Republican budget plan, which, among other things, makes deep cuts to Pell Grants (and, incidentally, would also allow student loan interest rates to double).
The presumptive GOP presidential nominee is, in other words, playing a little game: moving to the extreme in the primaries, then pivoting to a faux centrism, hoping reporters and voters will be impressed. He's shaking the Etch A Sketch, but only enough to give the appearance of moderation.
Meanwhile, American Bridge, a Democratic-aligned super PAC, released this video this morning, targeting Romney on education policy.
Leave a Comment:
Here's an interesting Stratfor commentary on the results of the 2008 Presidential election:
http://viableopposition.blogspot.com/2012/02/wikileaks-and-stratfor-2008-federal.html
It would appear that some Republicans had concerns about voting day fraud that were never pursued.
Puhlease Mttens, WE may be in the supposed "general election" phase of the campaign cycle - but it's too late to close that barn door, the horses have already run outside.
Shop around for a college with the best rate !!!??
Uh... gee... I always thought that one (tried) to get into a college that excels in the area of study you wish to pursue. "Learning" used to be in the formula.
He makes it sound so trivial... like college is just a place to party and spend Daddy's money. Oh.. and share the wealth. Huge tuition and giant loans. Who benefits there ? Check out salaries for 'tenured' professors. College is BIG business... and what do these kids get ???
Unemployment and intense loan payback pressure.
Where are the JOBS, Mitt ??
"My platform is Peace and Prosperity!"
(Like Nixon's plan to end the Vietnam war, the details are secret, until after the election)
You've got to hand it to Nixon, though, he ran on ending the Vietnam War twice.
'Retch-a-Stretch' in action. Where is Walmart U. when we need it?
And you know ol' Mittens never incurred one dime of college debt for his numerous degrees at HAW..VARD. Paid up front by his impoverished daddy.
No dishwashin' and table bussin' for my boy
I'm shocked and appalled that Romney would change his position!!!
Romney still has to convince congressional Republicans to support it. Even if only for purely mercenary political reasons (giving the middle class just one break so they look like they care, taking away an Obama talking point), you'd think Republicans would. But they won't.
We don't want no more stinkin' crumbs.
Romney is not giving up anything in support of low interest rates for higher education even if he were telling the truth about his flip on the flop.
Tuition in state university plus books can cost the entire annual income of an average working student living with their parents. This is just for an undergrad degree. The game is rigged and the hour is getting late. There are very few grants to help out and a growing number of students clamoring for admission. So, many students turn to under rated schools, or on-line scams only to be laughed out of job interviews, remain unemployed and default on their "low interest" (25%?) loans. Romney's speculation wins again. Romney is only in this race for the rich,remember. Aren't these loans just feeding the same bubble in the same predatory market.
If this is the only help for our young hopefuls that the Dem espouse, then it is just not enough. To little to late. Both parties get an F in my book. We need real help to broaden the base and we need it NOW.