Obama Breaks Down Student Loan Overhaul (Student loans will be forgiven!!!!)

Foxnews ^ | 3/30/2010 | Staff

[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."

[popdonnelly]

And remember friends, Obama is NOT a socialist. He told Matt Lauer so.

Just because his mommy and daddy were Marxists, and his mentors were Marxists, doesn’t mean that he’s a socialist.

[Paine in the Neck]

I wonder if you would get approved if you wanted the loan for Hillsdale College? /p>

I believe Hillsdale would not let you in if you had such a loan. They want no Federal intrusion into their operation. On the other hand, you can soon expect (if it's not in there already) legislation that would ban turning down a student bearing an ObamaEd loan.

[Earthdweller]

"New borrowers who assume loans after July 1, 2014..."

Current college age Obama voters got the shaft. LOL LOL LOL. Their taxes will pay for this. LOL LOL LOL...

[Gilbo_3]

actually, watch the pea in the shell game...

encourage everyone, especially whitey, to run up huge student loans, then change the rules later, making them beholden to fed nipples...

[lunarville]

"You need to lose a job to collect unemployment."

That may change in the near future...

[CFC__VRWC]

I wonder if you would get approved if you wanted the loan for Hillsdale College?

Hillsdale does not participate in the current federal financial aid programs. In fact, the school accepts no federal funding for any purposes.

[St. Louis Conservative]

What if you attend school after school after school and grad school after grad school and rack up $300,000 in loans. Does that mean if you only make $50,000 you only have to pay $416/mo?????

[GeronL]

It’s only money

[dartuser]

Gee ... is this likely to LOWER or RAISE college tuition? ...

Need I ask ...

[rlmorel]

Yeah. My back pocket...

[LachlanMinnesota]

Now that we have mandatory health care insurance, my discretionary income is gone.

[Rennes Templar]

Dontchya know he got a big stash somehwere?

[Red in Blue PA]

Sounds like it to me.

[whitedog57]

MINORITY loans will be forgiven.

Obama is all about African Americans and overpaid, spoiled union workers.

Our Racist in Chief.

[Red in Blue PA]

Can you all say HYPERINFLATION?

I knew you could.

[lunarville]

"Hillsdale does not participate in the current federal financial aid programs. In fact, the school accepts no federal funding for any purposes"

That's great!

[VOA]

“
And of course us old borrowers who followed the rules get screwed.
“

Picking winners and losers in order to max his buying of votes.
That’s Obama’s Five Year Plan.

[Domandred]

Expect a huge problem in 2034 when these student loans get “forgiven”

[Red_Devil 232]

My wife has one for her Masters Degree - sure would help if we had some Obambi’s stash to help out! Oh I forgot this stuff is just for those who can be brain washed!

[Jim W N]

Obama Breaks Down Student Loan Overhaul (Student loans will be forgiven!!!!)

Which results in financial institutions providing no more bona fide student loans - or more government takeover which just delays the same result with more collateral damage.