Do you believe it? Sean Hannity has a lack of knowledge…



Mr. President where were you for three and a half years on student loans?”

Sean, of course, is trying to make everyone think that Obama has done nothing on his 2008 campaign promise to help with increasing costs of student loans. The smug smile on his face shows that he doesn’t know what he’s talking about.

For instance, on March 30, 2010, President Obama signed the Health Care and Education Reconciliation Act of 2010, which saved $68 billion by removing banks from the student loan processing business and freed up more to be given that could be spent on helping students pay for college.

Also, he saw to it that the law stated:

“New borrowers who assume loans after July 1, 2014, will be able to cap their student loan repayments at 10 percent of their discretionary income and, if they keep up with their payments over time, will have the balance forgiven after 20 years.”

 In 2011, the Obama administration announced the new loan repayment rules:

Borrowers are allowed to consolidate some of their payments and save a half of a percentage point interest. (Republicans are now trying to double the interest rate in student loans.)

President Obama has done a great deal to remove the big bank corruption from the student loan program and has made the  program more about actually helping students get an affordable education, not adding to corporate bottom line.

What has Obama done for students who have loans? More that Sean Hannity’s lying heart will ever be able to admit.

—-> Thanks to Politicus USA


About btchakir

Retired Theatre Producer, Graphic Designer, Usability Tester and General Troubleshooter with a keen interest in Politics and The Stage. Currently heard on WSHC, 89.7 FM (on line at and occasionally dabbling in Community Theatre.

Posted on April 28, 2012, in budget, campaign, Congress, editorial, election, Finance, government, Health Care, Legal, Lies, News, Opinion, Politics, Taxes, Television, Word from Bill and tagged , , , , , , , . Bookmark the permalink. 8 Comments.

  1. Why doesn’t this surprise me? All I know is my kids have been buried under student loans, and I feel really guilty about the whole thing. Especially, my daughter who had to take out a huge loan for law school. It’s taken over the last 15 years of her life. She finally got a job that might help her get unburied. But, in the meantime, in the last 15 years, she’s spent a lot of time stressing out about money. If I had it to do over, I would really discourage a 21 year old for committing herself to such a ridiculous loan.

  2. If you just give Mr. Hannity the benefit of the doubt, he wasn’t talking about student loans in general but about this policy in particular. It was the Democrats who decided that loan rates should double right now, as even the liberal AP admits:

    While Obama blames Republicans for voting against new ways to make college more affordable for middle-class families, it was House Democrats who cut interest rates on the school loans in 2007 and included an expiration provision that placed the looming increase in the middle of an election year.

    The Democrats are trying to make it sound as if this were some new situation we should suddenly panic about, but the law on the books is the same as it has been since they put it there, in 2007. Mr. Hannity is saying that President Obama and his party could have tried to do something about this at any point in the last three years—especially while they controlled the White House and both houses of Congress—but chose not to make it an issue until now, during the presidential-election year.

    So I think Hannity is on solid ground, if speaking imprecisely. (If we could see more than once sentence of context, he may not even have been speaking imprecisely, for all I know.) But if you want to talk about federal-government policy on student loans more generally—

    “President Obama has done a great deal to remove the big bank corruption from the student loan program and has made the program more about actually helping students get an affordable education, not adding to corporate bottom line.”

    In other words, the president pushed for a Marxist takeover of the student-loan industry, giving the government even more control over our lives. I don’t think it’s at all healthy for a democracy for the president to be able to say, in effect, Re-elect me or your interest rates will double. It sounds a little like the mob (If you know what’s good for you…). The government shouldn’t have that over us.

    A government takeover of student loans also does nothing to help the actual price of tuition. If the president had wanted to do that, he should have pushed for less government interference, not more: Tuition rates are as high as they are right now largely because of government interference. Get rid of the subsidies, and the price will fall.

    • Marxist? Why does a Conservative Asshole always try to stick that on any progressive he disagrees with? Perhaps we should call you “Fascist.”

      • I didn’t agree with you before, but now that you’ve called me an asshole and a fascist, you must be right!

        I’m not calling names, I accurately named a particular Obama-administration policy, based on your own description of it (“removing banks from the student loan processing business”, with the government stepping in and taking over that industry instead, naturally).

        I like that you downvoted my comment and upvoted your own as soon as you posted it. Do you always deal with disagreement so well?

      • Are you saying you didn’t imply Obama was a Marxist? If so, it’s another conservative lie

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