Posted on 10/25/2011 3:14:56 PM PDT by reaganaut1
Fixed it.
A picture of a man more comfortable sitting on it, than giving it.
I know there was a program put in place called IBR (income based repayment) and if you were a teacher or other “low income” public employee you only had to pay a small percentage of the payment and after 10 years all the rest is forgiven, so there is an incentive and the government pays the rest. I have a neighbor using this “program”.
Wow.
The college bubble is a problem, and making the debt non dischargable was nuts, but this is worse.
Who knew the President had the power to accelerate Congressional legislation.
If it has been done before, I must have forgotten.
Congress abdicates their power again.
We have a bubble, and the crash is going to be horrible.
The only other option is to nationalize the schools, and limit students. Just like most countries.
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.
John Beohner and Mitch McConnell should be flogged!
I’m pretty sure the plan doesnt change the balances, it only changes the interest rates or the terms of payment. So your daughter would have still had to pay it off at some point.
Cha-ching!
Pandering for the college vote.
Student loans should be one of the last things you pay off. They can’t revoke your diploma. They can’t take away what you learned in college.
Student loans are also fantastic ways to build credit as long as you keep them current.
They are usually very low interest. Many times only like around 3-5%. So the student loan is usually the cheapest debt you have. Unless you have nothing else to pay off or spend your money on...just pay only what you need to.
Remember that you must maintain some debt or your credit score will start to fall. It goes against common sense, but that’s just the way the banks calculate the score. Credit scores are not only based on how you manage your money...it’s also based on your payment HISTORY. IF you have no debt and no payment history...you lose 50% of your score. People have actually be declined mortgages because they never took out any debt....and always paid cash for everything.
Redistributing is a full time job for this Marxist. Folks didn’t pay attention in 2008. Hope they do in 2012.
-PJ
Like I agreed to do.
Obama seems like he will stop at nothing to use taxpayer dollars to shamelessly buy votes.
Like I agreed to do.
Obama seems like he will stop at nothing to use taxpayer dollars to shamelessly buy votes.
Like I agreed to do.
Obama seems like he will stop at nothing to use taxpayer dollars to shamelessly buy votes.
That was exactly what they asked me, and the a couple of the guys got really pissed off at my response, which told me a lot.
What they are going to do to these students is lower their monthly payment, yet extend the terms of the loan so that by the end payment (if there ever is one) they will be paying $500,000 instead of $200,000 for that Masters Degree in Feminist Studies with a minor in Dead Religions.
Sorry .... Key stuck!
At this rate Obama will declare himself the winner of the 2012 elections by Excecutive Order.
Articles of Impeachment should be moving through the House of Representatives right now... there are so many reasons to chose from to justify this action. Thus far I see NOTHING from the House... are they cowards or just useful idiots?
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