Student Loan Interest Rates: New Scandal Comes To Light

Students and their rising loan interest rates are making headlines this week with both Mitt Romney and Pres. Obama promising voting students that they've 'got their back' when it comes to stopping the rates from rising in July to 6.8 percent.

But Tennessee Senator Lamar Alexander, who has insider knowledge about the educational budget of Congress, is blowing the whistle on a student loan scandal involving Senate Democrats like Harry Reid.

And, hopefully, if you are a college student you are going to be livid when you hear how you've been ripped off and tricked by the government--and made a laughing stock by the president this week.

In an MSNBC interview now available on YouTube, Alexander says that "Congress took money from students to help pay for the Health Care Law" and that money, if given back to students now, would help pay to keep student loan interest rates from rising in July.

What?! Democrats in Congress let Obama tell them to take money out of America's budget for education and college students and put it in the president's pet project Obama Health Care?

Didn't Americans just see Obama at three college campuses touting how he was for students? What a hypocrite.

How can he be for students if he is telling Congressional Democrats to take their education tax dollar monies out of the education department's budget and put them into the Health Care Law budget instead?

How awful and arrogant would it be for the president to sneakily funnel monies earmarked for college education over to the Health Care Law and then turn around in an election year and act like it is his idea to not tax the students with higher interest rates?

That would be sneaky and underhanded indeed.

And, if you listen to the rest of the YouTube video, Senator Lamar Alexander says that is just what has happened.

"Most students would be a little surprised to learn that in the Health Care Law the congressional Democrats overcharged them on student loans. And the Congressional Budget Office says that if they charged them what they should be charging them it would produce enough money to reduce all student loan interest rates."

Oh, so that's how he did it: He upped what they would pay on their student loans and siphoned off that money over into his Health Care Law, thinking no one would be the wiser, and certainly not some dumb college students.

OK, now North Carolina, Colorado and Iowa students should be livid they've just been played by the president like the American public was in 2008, when they foolishly put him into office on a bunch of campaign promises not kept.

Thank you Lamar Alexander for blowing the whistle on the president stealing from those college kids in order to just turn around and act like he was giving them money in an election year--so they would vote for him again.

College students may not be as smart as the president yet, but they are likely not so dumb as to let him get away with this kind of deceit either.

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