the lamestream media will pay for not covering this liberal stuff
WILL THE DIMOCRAPS EVER WAKE UP AND STOP THIS BASTARD FROM DESTROYING OUR COUNTRY????????
I agree with student loan reform, actually I don’t agree with student loans backed by the Feds, but if you are going to have a program then the dollars available should be based on default rate by institution and major. More dollars for the students of institutions that pay it back than those whose students don’t.
And the depressing news just keeps coming.
Not as much as it's a way to control the graduates and those that will be allowed to attend.
When your son/daughter graduates with a $200K loan they will tell him/her where to work and how much they will make.
This program will be used to give loans to the "underprivileged" and then forgive their loans when they are given degrees through social promotion so they will have no financial burden. They will claim this is part of "making up for the history of racism" in the U.S.
Prospective students who want loans will have to become the ultimate butt-kissers of the local apparatchik in order to qualify.
Yet Obama wants the 'profit' to go to the government instead. I am currently paying 1.48% on my student loan. What rate will the government monopoly be offering?
This is just the 2010 version of the 1990’s housing bubble - force lenders to give loans to people who will have all sorts of reasons and incentives to never give them back, have the government back the loans and eventually forgive many many of them, and then make up the shortfall with taxpayer - make that rich people’s - money - one more scheme to share the wealth.....
Private colleges will have student loans cut off just until they set up “Black Studies” programs, assign Howard Zinn in American History, fully unionize their staff, and make a few other such appropriate changes.
If Obama can run the auto industry, offshore oil and health care, then surely he can manage private universities too!