Posted on 10/25/2011 3:14:56 PM PDT by reaganaut1
The White House says President Barack Obama plans to offer millions of student loan borrowers the ability to lower their payments and consolidate their loans.
Obama on Wednesday will use his executive authority to accelerate a measure passed by Congress that reduces the repayment cap on student loans from 15 percent of discretionary income to 10 percent. The White House wants it to go into effect in 2012, instead of 2014. About 1.6 million borrowers could be affected.
Also, the 5.8 million borrowers who have loans from both the Family Education Loan Program and a direct loan from the government would be able to consolidate them into one loan.
(Excerpt) Read more at google.com ...
If so, why can't the next President delay implementation of Obamacare until 2050?
Pay off the mortgage, pay off the car note, pay off your cards, pay off your bookie.
Never pay off that student loan before it is due.
If there's anything I'll remember about the Obama years, it will be feeling stupid for paying my bills on time.
I feel stupid for living in a relatively modest house and driving a 10 year old car so that I could save for my three children’s college funds.
He has the authority to do anything that the weak, effete, Republican elite allow him to do.
20 years of debt ...yea thats a bargain ...
Obummer is such an idiot that he’s paying off the dumb-@sses who are already going to vote for him.
I think he’s trying to consolidate his forces for what’s coming. He’d rather instigate civil war than give up his quest to, through slow, steady manipulation, destroy our country.
On a different note, there seems to be a lot more people at the range these days.
About the way I feel for paying off my mortgage several years back.
I was thinking the same thing, like, did I read the same article? Obama throws them a faux bone as far as I am concerned.
No
This is unconstitutional, EO’s aren’t for this kind of stuff.
Congress needs to....
oh right. They are doormats.
Another executive order to stick it to the taxpayers.
No clue. They were hers.
She paid them off because when she applied for financing to buy a house the debt was used against her.
“Never pay off that student loan before it is due.”
On what grounds?
Is it not obvious that the loans should be paid back by the borrower, and that any offer to pay your loans for you should be rejected?
I would say that letting somebody else pay your loans for you is the way to feel stupid.
Never pay off that student loan before it is due.
If you don’t pay your mortgage, they take away your house.
If you don’t pay your car note, they take away your car.
If you don’t pay your bookie, they break your legs.
If you don’t pay off your student loans, they can’t take away your education.
And student loans have lower interest rates than other loans.
The key is to save enough cash for grad school and then borrow as much as you can at 3% and invest that cash you got from the loan.
/s
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