Posted on 10/13/2016 6:58:23 PM PDT by 2ndDivisionVet
PHILADELPHIA (CNN) — Donald Trump on Thursday offered up his most detailed prescriptions yet to address the student debt crisis, proposing an income-based cap on student loan payments and an ambitious student loan forgiveness program.
Trump, in a meandering speech to a group of rowdy high school and college students, called for a single student loan repayment plan capped at 12.5% of a borrowers’ income and suggested borrowers would see their student debt forgiven after 15 years of making full payments.
“We’re going to work it out. It’ll be a negotiation,” Trump said, prompting one student to shout out “Art of the Deal!”
“We’re going to work it out big league,” Trump added....
(Excerpt) Read more at philadelphia.cbslocal.com ...
The entire program of loaning to students needs to be reworked. It dumped way to much money on the education market with zero interest in the actual students. The whole reason colleges are as liberal as they are is simply because they get the kickbacks for money from these federal loan programs.
They don’t care about education. They care about money, and what the government has given to them. Its a horribly inflated market which found sweet money making lower-middle to upper class students front the liability for debts they were coached into making.
Where this started was with government and people who sold one generation away with bad education combined with bad policy.
Yes. We need to keep our eye on the ball!
In reading many of the responses on this thread, I have to think none of them actually listened to what he said.
my ex wife worked with an office tied to the EOC on a college campus here and her job was literally to get folks to make their payments on their defaulted loans... After about 6 months they could file for forgiveness and they would get it.
“Should basket weaving majors be subsidized?”
-—Therein lies the problem! Student Loan programs should be graduated based on income potential and job potential. Example: I’m a Nurse Practitioner (RN MSN) and can get a job anywhere so there’s a very good job/income potential so should be open to full student loan programs. Same with Computer, Medical Doctor degrees... etc.
Degrees like Liberal Arts degree etc have limited job/income potential and student loans should be less covered for those programs as there isn’t a big job market. Some kids/people just aren’t cut out for college and colleges take advantage of that fact and offer silly degrees and then students are left with enormous debt they can’t pay back
I think he is targeting Bernie Sanders people. Trying to take advantage of the backlash from Wikileaks about Clinton’s dirty tricks against Sanders supporters.
I have no idea what Trump will actually do if he gets the presidency. For me its not about Trump anymore...Its about not letting Clinton back into the Whitehouse. The supreme court and gun rights.
I think he may need to take from Clinton’s support to win. Undoing the damage against those who actually are voting for Clinton just because she is a woman, is pointless in this time frame. But proving that Clinton is just another globalist and she stole Sanders chance for the whitehouse is a much easier hill to climb.
We have over a trillion dollars of student debt on the books with a good chunk of that going into default.
You're going to get punished either way.
Had a couple of part time jobs and pinched e-v-e-r-y penny. Took the max number of semester hours and went summers to be able to graduate in three years at 20 years old. That was before there was such thing as AP high school classes so we started with 0 college credits. Despite everything, that was the most fun and relaxed kicked back time of my life.
Today’s kids take the bare min. hours and think they need a penthouse suite at the Ritz instead of the dorm with a meal plan. They maybe graduate five or six years later and wonder why they have such large loans to repay... or the taxpayers have to pay it for them.
"Wine is for laughter, and a feast maketh merry, but MONEY answereth all things."
... it's in the Book.
“Should basket weaving majors be subsidized?”
If the lender knows they’re not likely to get paid back for loaning money for notsh!t degrees, they’ll be less likely to lend the money. And if colleges know they’re not going to have students for basket weaving, maybe they’ll stop offering it as a major.
I don’t know if that adequately addressed your post; it’s 0130 here...
Well Everton fans are used to lose.
Trust Donald.
He is smarter than you.
It’s the least the banks can do after recievng their bail-outs.
I think you nailed it right there.
Believe what you want, I am telling you loans were forgiven routinely.
Gonna have to be a good number of compromises along the way to sanity and health.
I watched the speech and he did say the universities were raising prices too much and most of the $$s were not going to the students. The speech is available on RSBN.
Jeremy Diamond and CNN are no friends of Trump, as I think all of you know.
If this were possible, school loan debt would not be a huge political issue.
The government website that I linked explains the only programs that are now available.
Think of all the sources out there that look to profit from assisting people with info to have school loans forgiven. None of them suggest a magic 6 months and your done.
The right answer is easy. Let folks who cannot repay debts declare bankruptcy to eliminate, reduce, or restructure debt.
Treat it as any other unsecured debt is treated.
Let the problem sort itself out after that.
That is the right answer, and indeed is the only viable answer, whether we wish to admit it or not.
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