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Obama issues another executive order bypassing Congress
American Thinker ^ | 06/09/2014 | Rick Moran

Posted on 06/09/2014 6:50:42 AM PDT by SeekAndFind

In a bid to give one of the Democrat's vital constituencies a lhand, President Obama will issue an executive order today that will cap student loan repayments at 10% of a borrower's monthly income.

Politico:

President Barack Obama said in his weekly address Saturday that he would take action on student loan issues in the coming days, but gave no details. The executive order, first reported by the New York Times, will expand on a 2010 law that capped borrowers’ repayment but left a hole in eligibility for people with older loans. Those left out of that relief include people who borrowed before October 2007 or stopped borrowing by October 2011.

“This makes it simpler to have one set of terms,” said Jason Delisle, director of the New America Foundation’s Federal Education Budget Project. But he pointed out that all borrowers already have the option of basing loan repayments on their income.

Federal student loan debt reached more than $1 trillion last year, an amount that has some economists concerned is creating a chilling effect on spending, home-buying and other economic drivers.

“This is commencement season, a time for graduates and their families to celebrate one of the greatest achievements of a young person’s life,” Obama said Saturday. “But for many graduates, it also means feeling trapped by a whole lot of student loan debt.”

(Excerpt) Read more at americanthinker.com ...


TOPICS: Politics/Elections
KEYWORDS: congress; executiveorder; obama; studentloan
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To: Rapscallion

He’s trying to ensure that he gets the Millenials’ votes for his 3rd term once he kills the 22nd amendment. So many of them are strapped with high college loans to repay that they would vote for him based on this alone.


21 posted on 06/09/2014 9:54:40 AM PDT by jsanders2001
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To: SeekAndFind

Why not go to the source and issue an executive order capping outrageous tuition fees, and make that retroactive? I guess he doesn’t want to tick off his loyal communist academia following.


22 posted on 06/09/2014 9:58:13 AM PDT by Ironfocus
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To: SeekAndFind

Wonder how Obama thinks he’s helping students to obtain a loan for house or a car.......


23 posted on 06/09/2014 10:31:47 AM PDT by Vaduz
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To: SeekAndFind

so, if I’m unemployed,10% of $0.00 = $0.00 ?


24 posted on 06/09/2014 11:18:23 AM PDT by stylin19a (Obama ----> Fredo smart)
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To: SeekAndFind

Those making payments may think they are getting a deal. They are going to end up paying far more. This is a deal with the bankers for campaign money for the democrat party. The students are being “schooled” in democrat politics.


25 posted on 06/09/2014 11:51:52 AM PDT by minnesota_bound
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To: SeekAndFind
College Tuition CPI exploding over that of regular CPI thanks to the massive infusion of low rate government loans:


26 posted on 06/09/2014 12:06:50 PM PDT by Wyatt's Torch
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To: SeekAndFind

I really feel like a damned fool now for paying off my student loans early....

I feel ike a legal immigrant who had to jump through all sorts of hoops to get citizenship only to watch a stream of people breaking the law basically getting in for free...

America, where being a Law Abiding and Responsible Citizen is punished.


27 posted on 06/09/2014 2:42:34 PM PDT by GraceG
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To: Vaduz

Why am I fool and cross streets at the crosswalk when I can just Jaywalk across the road all willy nilly....

Hell, the rule of law and contract and societal expectations are not followed any more...

All the Law abiding citizens and responsible citizens are feeling like chumps more and more...


28 posted on 06/09/2014 3:27:42 PM PDT by GraceG
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To: Mr Rogers

“No. Student debt goes on forever, unless repaid.”

THAT will be the topic of NEXT WEEK’s Executive Order.


29 posted on 06/09/2014 3:31:38 PM PDT by EDINVA
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To: GraceG

Indeed it’s became a lawless land thanks to Obama&co.


30 posted on 06/10/2014 5:28:30 AM PDT by Vaduz
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To: SeekAndFind

The next Congress and POTUS is going to have an epic disaster on their hands sorting all this out.

Democrats create a mess and then fix it by doubling down on said mess.


31 posted on 06/10/2014 3:45:43 PM PDT by 1010RD (First, Do No Harm)
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Midterms, midterms, midterms... It’s all about motivation for the midterms.


32 posted on 06/10/2014 3:47:30 PM PDT by Gene Eric (Don't be a statist!)
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