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 ...
Oh hell no.
Look what it’s done to him...
I don’t think there is much new about this, except the 10% income aspect. This would be an extension of the 2007 College Cost Reduction Act, signed by Pres. Bush and which took effect in July 2009. Public service includes government and non-profit work, including those inculcating liberal ideology, but excludes employment in religious instruction or proselytization. http://edocket.access.gpo.gov/2008/pdf/E8-24922.pdf
In addition to increasing the national debt, this provision may be seen as being conducive to further promoting the liberal entitlement mentality, and populating government with those who often manifest and propagate the same.
“Buying votes. Isn’t that illegal?”
is that rhetorical ? they don’t even HIDE it anymore.
what, pray tell, is “discretionary income?”
bttt while dealing with wave of nausea
No...it’s reparations. Step one.
“Got that whitey?? Your day in the sun is OVER!”
And to top that off, we need to pay a “white guy” tax to use tanning salons!
LOL - Problem is, he was that way during the campaign and people still voted for this turd.
And let’s not forget the “age 26” on mommy and daddy’s insurance pay off. College students/colleges/ youth are their vulnerable bribe base, they haved to have their vote.
My student loans won’t be forgiven, I am white and a capitalist.
>what, pray tell, is “discretionary income?”
Discretionary income is the portion of income [if any] that is in excess of your monetary needs & obligations [such as rent and food*].
*Food expenses can be decreased by getting the less-expensive brands, buying in bulk, and/or cooking your own food... but that’s just technicalities.
then I want MINE BACK....I busted my @$$ to pay mine off....and if they are being forgiven...I WANT MINE BACK.
F****** POS Marxist B@$t@rd
Only if they major in liberal arts, law, or black history. All others will be turned down for loans unless they switch to those majors.
They already do that, many times over.
Next up will be Pelosi screeching "Free College Degrees for Everybody!"
Ugh...
Son is senior in high school, starts welding school in August. We will be taking out his loan just as this goes into effect. *sigh* I guess all that nagging I did at him to get scholarship apps in was worthless, he will just get some Obama-cash! Grrrr I hate this.
Thats it. I’m moving to the Philippines.
Or hell, maybe Hong Kong.
Or Bora Bora.
Someone needs to take care of this Obama and throw him out on his sorry ass. Tired of seeing my country torn apart with this crap.
I don’t think the loans start until 2014.
yeah I just realized that my speed reading and horror had caused me to overlook that fact. *whew*
I think this is just talk. If ANY student still has outstanding student loans after 20 YEARS, really did not learn much in school. I had my private loan paid off within 2 years.
2014...he’s working on re-election already.
“Vote for me and all your wildest dreams will come true!”
The Chicago Way to pimp the college kids.
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