Hillary Clinton Unveils $350 billion plan to kill college debt

Politico ^ | 08/10/2015 | By NIRVI SHAH and KIMBERLY HEFLING

[Buckeye McFrog]

* Expand income-based repayment programs, allowing every student borrower to enroll in a plan that would cap their payments at 10 percent of their income with remaining debt forgiven after 20 years.

That's the kicker. The vast majority of student debt will get forgiven in that scenario. It will win her the election.

[SeekAndFind]

RE: I am old enough to remember when $350 Billion was the entire defense budget

Just remember that her proposal is $350 Billion in 10 years.

[The Iceman Cometh]

That proposal, which has long been included in President Barack Obama’s annual budget, would raise more than $600 billion in the next decade, according to the Treasury Department.

Which will fall short as the wealthy adjust to the new taxation to pay less thereby causing more government debt.

Beside, I have a rule of 3 whenever politicians talk about cost. If they say $350 billion, multiply that by 3 and you will end up with the true cost.

[NEMDF]

Note this is announced the same day Bernie Sanders announces his plan for free college. They are likely spying on each other in the inner circles of their campaigns.

[glorgau]

Rather than students (the beneficiaries) borrowing directly, she want the taxpayers to borrow the money!

[eartick]

My pocketbook is already hurting

[mcshot]

My plan also although I had to work and burrow a few K.

[Darth Reardon]

Hmm. I keep hearing we “can’t afford” to deport the “11 million” illegals, yet we can come up with $350,000,000,000 for this.

I was going to say that if we use this magic $350,000,000,000 to deport instead, that would be over $31,000 per illegal which would be way more than necessary, but then I realized it would be run by the government.

[camle]

so the poor (non college educated) subsidize the rich (college educated)..where’s robin hood?

[Sir Napsalot]

Trying to out Bernie Bernie Sanders? Everybody gets a free college education, no tuitions nor fees. Let’s turn higher education into another gubmint institution.

Most college professors and administrators are out and out leftists, they should enthusiastically support this, no?

[Buckeye McFrog]

It will be sold on it’s marvelous macroeconomic effects.

The cash-strapped 30something couple expecting a child will finally be able to buy a house.

The 28-year old research assistant will be able to go out and buy a new car.

etc. etc. etc. etc.

Look for the crony capitalist beneficiaries of such a move to begin lobbying for it.

[Cats Pajamas]

Awwww wittle Hillary scared the Donald gonna take some of her Twitter voters. Witch is still trying to get her broom lit. Be gone.

[Vince Ferrer]

Those outrageously expensive university speaking fees she charged may turn out to be a great investment for the universities.

[yefragetuwrabrumuy]

Relieving debt only makes sense if further debt is prevented.

That is, since Obama has effectively nationalized student loan debt creation, then there needs to be strict limits on who can get student loans.

To start with, loans need to be oriented for those major courses of study that will eventually fill job shortages. That is, Nurses, Criminal Justice, Education, Science, Mathematics, some Business, and many others have very high hiring rates after graduation.

Law degrees, other Business degrees, and many Liberal Arts degrees have no jobs waiting for them, and there is a surplus of graduates in those degrees. So no student loans for them.

And, of course, utterly worthless degrees, such as Ethnic and Gender studies, should have zero loans available to them ever. Not a dime of public money should be wasted on them.

[longfellow]

They’ve dumbed down the youth so much they can’t read the Constitution. Mission Accomplished.

[Jmouse007]

Here is her heinousness’s plan: Shillary is going to download all the student debt to her personal server, wipe the server’s hard drives and claim “I have no idea what could have happend to the data!” = Student debt problem solved thanks to Jezebel Clinton, the wicked witch of the east!

[exit82]

Wonderful idea!

She could offer to download everyone’s grades to her server and make the bad ones disappear!

It would be the Golden Age of Education!

/s

[Graybeard58]

the $350 billion over 10 years would come from cutting tax deductions for the wealthiest Americans.

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Tax the rich. What a novel idea. That Hillary’s great ain’t she?

[Graybeard58]

. This is a necessary concession to the debtors who, in many cases, were duped into taking out loans they couldn’t afford.

*************************************************************************

If they aren’t smart enough to figure out they can’t afford it, perhaps they don’t belong in college.

I spent 4 years active duty and even with the g.i. bill and me working, it didn’t take me very long to figure out, “With my young, small family, I still couldn’t afford it.

I managed to work until I was 54, with my children grown, I retired, happily retired for almost 16 years now.

[Mastador1]

Hey where is her plan to give me free sh*T? I’m want my freebies too! What is she going to try and bribe me with for a vote? What is truly amazing is the epiphany that so many of these college kids have once they enter the real world and find out how much of their income is taken to pay for these social engineering ponzi schemes.