Financial Aid for the Rich:

Now this really sucks!

If we are all equal under the law, how could you possibly deny these poor rich kids access to student loans. More than likely their rich parents will pour more money into the tax coffers in five years than the poor kids parents will in a life time...sounds to me like you are encouraging discrimination. The kids aren't rich, their parents are.

And there is a difference in the worth of a business and its annual income. Many long time family owned businesses have plants worth millions, while losing money each year.

From my understanding of this article, we're talking about loans right??? If someone has the money to pay for their kids' college outright and still want to get a loan then that's their own stupidity winning out. Who the heck cares. Only idiots take out loans when they can pay cash...It's their money, they can be idiots with it if they want. My mother made about $60,000 a year and I couldnt get grants from the gov't so I doubt any of these kids you're talking about would...loans are far easier to get.
Now, PBA...why don't we get such disgust from you about the lazy a$s fools sittin on their a$ses all day collecting welfare that you and me and everyone else posting here pays for. I'd guesstimate that about 80% of welfare collecting Americans could get out and find a job, but with folks like you, and the Dems who want to give them a free ride, why would they?
You'd rather attack business owners who EMPLOY Americans who take the personal responsibility to work and earn their keep, and support themselves and their families...and unfortunately the lazy a$sess I spoke of earlier. Once again, thanks to your libs who love taxes so much.

Peter, I must respectfully disagree with your assertion that getting a loan when you have the money is stupid. To be specific, several years ago I had a fairly large sum of money invested in CDs at 16.2%. At the same time, an investment opportunity presented itself and I borrowed money at 6.5% instead of spending my own money. One of the best ways to make good money is to use someone elses money.

quote:

Originally posted by SHELDIVR:
Peter, I must respectfully disagree with your assertion that getting a loan when you have the money is stupid. To be specific, several years ago I had a fairly large sum of money invested in CDs at 16.2%. At the same time, an investment opportunity presented itself and I borrowed money at 6.5% instead of spending my own money. One of the best ways to make good money is to use someone elses money.

But you said yourself, you already had a large sum tied up at the time of your decision, if thats a move you had to make then I understand that. But the most econmically sound way to pay for anything is to pay once and only the amount on that pricetag. Paying interest unnecessarily is silly to me. Gaining interest on the other hand, fantastic. Looks like you got a pretty good IR on those CDs, why lose any of that profit margin? Like I said though, if at the time your cash wasnt where you could comfortably make that investment then very understandable...but for me, cash is king.