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 ...
Since it doesn’t start until 2014, how many high school graduates are going to put off going to college until then. What would they do for those 4 years. Maybe some gov’t service corp (can you say corpse). Also, teachers, nurses and military can have their loans forgiven after 10 years, not 20.
The people doing this can’t be that stupid. They have to know all of this will bring the country down! That MUST be their plan.
FREE STUFF WOO HOO !!!!
You mean somebody has to pay for this? Taxpayers?
I thought this was all coming from 0bama’s stash.
I like your ideas. Currently there is absolutely no downward pressure on tuition and it should also be noted that the creation of “public options” has NOT reduced tuitions.
With respect to your concerns about regulation, this is only necessary BECAUSE the Gov regulated themselves into the college business.
Ubanga will just get the money from "his stash".
I wonder if white students will have their loans "forgiven"?
Yes I was aware - 10% of discretionary income....wow, so you owe $120K, pay $100 a month for 240 months and the remainder is forgiven. And did you see it is to target minority institutions? Banks didn’t descriminate - everyone was elegible for student loans with no credit check. Yet he still thinks minorities were discriminated against? What a crock
Well, now I can understand why the Democrats wanted control of student loans. Don’t spend the money yet, kids, you’ll pay it all back in taxes.
Just call it the Marxist Professor Full Employment Act. This does nothing but pump billions of taxpayer dollars into phoney, at best, destructive, at worst, college degrees that add nothing to the functioning of society.
10% of discretionary income. What a laugh (or cry!). They know perfectly well this will be gamed to produce no loan repayment. Barney Frank must have thought this one up.
It used to be that members of the public bribed the politicians. Now the politicians bribe the public.
With all due respect to deadbeats, Obama already had the deadbeat vote.
“This is reverse descrimination”
Or perhaps just discrimination. Looks like this is one that could, in the future, become ripe to be heard by SCOTUS.
In this country we have laws against discrimination. On the other hand we have lawmakers writing discrimination into law.
In the case of the Mass Fire Fighters I remember one of the Justices saying the only way to stop discrimination is just to stop it. Pretty simple concept. Wonder why Dumocrats find it so complicated?
Any estimates of how much it’s going to cost the taxpayers to keep the academics fully employed bestowing worthless degerees on community organizers?
I wonder if you would get approved if you wanted the loan for Hillsdale College?
and i was a dumba$$ for paying off my Student Loans early....
Reward the irresponsible and punish the responsible....
ping
You need to lose a job to collect unemployment.
Democrats won’t stop discrimination because it keeps their name in front of the public and it makes them money. Just follow the money. If they keep minorities riled up, it gives them something to talk about. Lord knows they can’t do anything else.
I guess he figures he has to buy off all these young voters since their health premiums are about to get jacked way up as the result of ObamaCare. This guy must have one hell of a stash somewhere, huh.
One more Constitutional challenge - Federal commandeering of the State College System.
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