Students Are Subsidizing Obamacare As Dick Morris reported in The Hill last week, the Congressional Budget Office reports that $8.7 billion of the money collected in student loan interest payments actually goes to pay for ObamaCare. The CBO estimates that the interest rate on these loans could be reduced from 6.8 percent to only 5.30 percent were the monies not being used to subsidize the healthcare law and other federal programs. There are 16 million American students who now have student loans; they are paying for ObamaCare out of their meager incomes just at the point when they graduate from college and need funds to start their lives, buy their first homes, and start a family. In addition, the very law they are funding will impose fines on them if they do not purchase health insurance. The federal government borrows funds for the student loan program at 2.8 percent and then lends it to the students 6.8 percent, a markup of four percent. Undoubtedly, few students are aware of this financial exploitation.
Posted on: Thu, 06 Jun 2013 08:56:25 +0000
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