Posted on 03/30/2010 8:46:30 AM PDT by Red in Blue PA
He will also talk about the provision's less controversial expansion of Pell Grants, as well as supporting historically black and minority institutions and caps on student loan repayments.
According to the White House, "New borrowers who assume loans after July 1, 2014, will be able to cap their student loan repayments at 10 percent of their discretionary income and, if they keep up with their payments over time, will have the balance forgiven after 20 years."
(Excerpt) Read more at whitehouse.blogs.foxnews.com ...
With this in place, the government will be able to tell you what you will have as a major. You will be assigned to certain “fields” with shortages. Think medical professional with capped pay.
Our name is Equiality 7-2521,
America's Quiet Anger http://www.freerepublic.com/focus/f-news/2482897/posts
He needs a slave class.
“Or do they tell me what to buy, wear and eat based on my income?”
No, they will tell you what to buy, wear and eat because they now have more interest in your physical being than you do.
Until you hit 65 and then you’re just consuming valuable resources and using too much expensive medical care.
LOL, I know. I sent our census back yesterday with the number of people in our house and that was it. I’m such a rebel :)
My son, who is an an American, stayed longer in Indonesia than Obama did, but I doubt you would find much info on him either.
“I wonder if you would get approved if you wanted the loan for Hillsdale College?”
Hillsdale College will not accept payments from a government loan.
“Where’s mine? I went to school a while ago. Where’s my forgiveness?”
If you could afford to pay back your school loans, you obviously can afford to pay for someone else’s now. See how it all works?
fum his stash.
This is a culture and a way of life (4th generation welfare/public assistance) that has saturated society today, whereas "whitey" is made to pay to buy these folks' favor and un-ending Democrat votes. Drug money to spend (from "whiteys'/rich folks) that is constantly being handed to these parasites, and 70% illegitimate birthrates without fathers to be made to support them. The support is laid onto all the working people, while the lifestyle is defended by SCREAMING racism if you point it out.
I think EVERY Democrat should be forced to live in Detroit, Cleveland, Philadelphi, Los Angeles, New York, etc. inner cities to be with those that they want as "supporters".
This country is in ruins due to favoring buying support of illegals, minorities, and fringe group lifestyle wacko's.
I spect he doesn’t know what discretionary income is. Good catch.
Why did any of us bust our tail working through college? 0bama is creating a nation of lazy mind-dead We people.
This is a payback to academia. Liberal universities will now be able to hike their fees indefinitely and we get to pick up the bill.
hey, “jobs created”- government jobs
to offset all the private jobs lost in the banking industry, the people who used to administer student loans,
and the jobs of people who sold the things those people used to buy...etc etc etc
Maybe its time to register as a democrat.
There is already a cap on student loan repayments based on discretionary income. The Reconciliation Act just lowers the cap from 15% to 10%.
“Discretionary income” is defined as adjusted gross income minus 150% of the poverty level (based on family size). If your hypothetical doctor did what you suggest, his consulting fees would be part of his adjusted gross income, just as it would be for tax purposes, and he wouldn’t reduce his loan payments by a cent.
We’ll be living in unheated caves by then, or our abandoned autos.
I should add that “discretionary income” is just a phrase Obama used. It doesn’t appear in the language of the Reconciliation Act on student loans or in the existing statute it amends.
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