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 ...
“Why should I have to pay for their college? No one paid for mine.”
Congratulations for being an adult. I paid for mine, and my kids.
Guess what? Pretending kids will pay back debt that can’t be paid back is a matter for bankruptcy courts, not electioneering.
Bankruptcy courts can sort through the issue quickly if they wished to.
That is the only viable answer.
The additional questions like “where do all the university administrators and professors find jobs after their institutions close” is another matter.
Universities will be “fee for service” entities in the future.
I meant “you’re” done. Haha. Yes, my education was paid for back in the dark ages when it was only about $300 a semester.
Yes, my wife drew a paycheck for 2 years doing something that isn’t possible and doesn’t exist.
I am telling you, this happens, and it happens routinely...
Folks would want to return to school, they had defaulted student loans from earlier in life.. they would set up repayment plans and after about 6 months of repayment they requested and got their loans forgiven.. Not forbearance, not modified, completely forgiven.
You can believe whatever you like, this is indeed true and factual, just because you don’t choose to believe it is not my problem.
I realize it may be a bit late to argue this point, since we have long since slid down the slope to free everything, for everyone. I just think it is sad to see Trump getting on the bandwagon. It seems a strategic mistake - for every student debt laden millennial he might gain the vote of, he probably loses 2-3 among conservative voters who can see where the free money comes from.
Then you are talking about something other than federally guaranteed student loans originated in the last 30 years. Which are about 85% of the $1.3T in outstanding student loan balances at present.
Free Market people, let colleges fail, they suck anyway ...
My exact situation.
Let’s hope this isn’t true.
When people take out debt. They need to pay it back.
Colleges need to get rid of the frills.
Expensive living arrangements and club like workout facilities are two small examples
Yeah ... let the suckers taxpayers pick up the tab. Or create more government debt to replace it.
Great idea. It'll be Yuuuuuuge.
Yuuuuuge debt, at least.
How 'bout we get the government OUT of the student loan business entierly?
WHERE THE HELL IS THE CONSTITUTIONAL AUTHORITY FOR THE CONGRESS TO GET INVOLVED IN ISSUING OR GUARANTEEING STUDENT LOANS???
It doesn't exist, of course. Everybody knows that.
No, I am talking about federally guaranteed loans.
If you and your major have such good loan repayment prospects, the public sector ought to be willing to fund it.
No reason for taxpayers to do so.
“Full Disclosure......
I have never taken a student loan in my life.”
I did and bought a DeRosa bicycle just like Eddy Mercks rode and called it “transportation”
But I paid it back
I was talking about future student loans, not those already contracted. Is Trump talking about current loans? I misspoke.
the real issue here is bankruptcy laws.
I advocate that normal bankruptcy laws should
apply to student loans.
5 or 10 years ago, brain-dead Republicans changed the law to favor banks.
and they come out the other end commies with doctorates in basket weaving wondering why no one will hire them.
If the alternative is getting nothing? Yeah, I think he could pull it off. Of course there are all kinds of dirty tricks the lenders can pull, but in the end the sovereign trumps (ha!) the banks, especially when he has the people on his side.
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