and America takes another one in the........
Yes, and as 0bama goes around touting this as a good thing on the campaign trail, he’ll let the young adults believe it applies to ALL student loan debt, tell them it is just fair that they should not have to pay it, etc., etc., while we are letting rich people keep some of their money. And no one in the media will dispute it.
They didn't.
So, why protect the lenders to any greater degree than other loans they make at the same rates.
Student loan debt should not be treated any differently than any other debt in bankruptcy court.
No lender should have a “guarantee” that their loans will be repaid, else they begin to lend without concern for risk.
O M G! ! ! !
Did I just agree with something coming from the white house?
This guy has absolutely no shame.
Mr. Messiah, you are going to have to do better than that to win reelection.
Yeah, maybe in certain extreme conditions, I can see some relief, but come on, I had to work my A$$ off to pay mine off, so everyone else should too.
You spent $120k for a degree in Art History, of course I should pay when you can't find a job worth your station in life.
Maybe, just maybe, parking cars IS your station in life.
To quote Rahm: quit whining!
Pay your own damn bills.
Slick way to redistribute by another name.
It has to be for all or none. the obama plan is to force out private business an make them thralls to the government loans.
It should be they are dischargable after 5 years and the university has to give the money back.
Paid for with other people's money. Notice that student loans to the Federal Government aren't covered, only loans to private lenders. So lenders who loaned money assuming that they could not be discharged by bankruptcy, now find themselves getting screwed like GM senior creditors.
GREAT.
Writing down debt, has an impact across the board.
You can’t do this sort of thing and not spread pressure elsewhere.
Here we go again, Obama flipping another domino with reckless disregard.
January, 2013 can’t come soon enough.
The incredably “not street samrt” republicans can’t seem to tell the American college student that all the reasons why loans for college are set up the way they are is because that is how Democratically controlled congress wrote the bills. The present loan “company” in NOW the US Government instead of private companies...thanks Nancy Pelosi and Harry Reid - but where are republicans on this message?
Time for the year of jubilee where all debt is wiped clean.
Somebody from our side needs to come clean with the American people about “Big Education”:
Provide unlimited subsidized loans to students
Colleges raise tuition and fees to scoop up available funds
Colleges pay big bucks to admins and profs
Admins and profs donate to Democrats
and repeat
and America takes another one in the........ And then they’ll bitch and moan where they issue fewer loans.
A couple of things to keep in mind here:
1) Just about all other deadbeats get off without paying, so it does get difficult to understand why these losers shouldn’t get a free ride also.
2) Keep in mind that ANYTHING this clown proposes will add to the national debt, so if these loans are forgiven guess who has to pay them back (and no, not the taxpayers, but their kids and grand kids).
“The recommendation, in a report by the Education Department and the Consumer Financial Protection Bureau, wouldn’t affect the vast majority of student debt, which is issued by the federal government. It would apply only to the roughly $150 billion, or 15% of total outstanding student debt, issued by private lenders such as SLM Corp.’s Sallie Mae and Wells Fargo & Co. “
See above, where this is coming from. The Coffee Server Puppet not close to any brains making up these recommendations.
Inside bureaucratic-fascism, just like what’s coming with Extortion-Care.
There is no rule of law currently in the USA it is flexible depending on the politicians latest whim. Disgraceful.