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Obama Breaks Down Student Loan Overhaul (Student loans will be forgiven!!!!)
Foxnews ^
| 3/30/2010
| Staff
Posted on 03/30/2010 8:46:30 AM PDT by Red in Blue PA
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To: b4its2late
Buying votes. Isnt that illegal? pends on how you do it.
141
posted on
03/30/2010 9:47:46 AM PDT
by
quesera
(We are so screwed!!)
To: quesera
K. I’ll mark that for future reference... LOL
142
posted on
03/30/2010 9:48:29 AM PDT
by
b4its2late
(A Liberal is a person who will give away everything he doesn't own.)
To: MNDude
They know the older students are already facing reality and are unlikely to vote for more socialism. He needs the young people’s votes.
4 more years of indoctrination for a greater number of mind numbed robots.
Unfunded mandate for states as their colleges will be filled to the brim and may be forced to build more. It will break their budgets.
Huge bonus for on-line colleges as they can rabidly absorb massive numbers of students.
College degrees will now mean even less if your dog and cat can sign up, get loans and get a degree.
Colleges create workers, not entrepreneurs. Where will these people work?
143
posted on
03/30/2010 9:50:07 AM PDT
by
listenhillary
(Capitalism = billions raised from poverty, Socialism = billions reduced to starvation)
To: Red in Blue PA
Pandering for the youth vote, giving up on the white man vote as in "Stick it to 'em".
Mugabe has nothing on Obama for stupidity.
144
posted on
03/30/2010 9:51:02 AM PDT
by
greyfoxx39
(ObamaLand: Ignore the inner-city minority gangs, send the FBI after white Christian militia.)
To: Psycho_Bunny
This destruction and deconstruction of all we hold dear is no accident. With each passing day, I am thinking:
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
Cloward-Piven.
And my invocation of Cloward-Piven isn’t rhetorical anymore.
145
posted on
03/30/2010 9:51:15 AM PDT
by
rlmorel
(We are traveling "The Road to Serfdom".)
To: henkster
So if I understand this correctly, young people are now economically encouraged to stay in an expensive out-of-state or private college as long as they can, and rack up a massive student loan balance. When they graduate, they will basically be paying just interest because of the 10% cap, and that interest will be tax-deductible. After 20 years, the taxpayers will pick up the difference (probably through more debt pile on taxpayers).Well, yes, there's that.
But the bigger thing is that all restraints on tuition increases are now removed. Private colleges should, and will, double and triple their tuitions as soon as this goes into effect.
Unemployment among African-American studies professors and critical legal theory types will go to zero.
I'm already thinking of a new career in Oppression Studies.
This is a bailout for a failing model of higher education. The effects on students are much less important.
And, oh, dare I ask? I suppose that only the poor and historically underrepresented minorities will be eligible for these loans?
146
posted on
03/30/2010 9:52:07 AM PDT
by
Jim Noble
(Let tyrants shake their iron rod, and slavery clank her galling chains)
To: chichipow
That video is one of the most disgusting things I’ve ever seen. It made me sick the first time I saw it, it still makes me sick. Freddie Freeloaders, all of them.
147
posted on
03/30/2010 9:52:26 AM PDT
by
mojitojoe
(I don't care what you passed. you are irrelevant. I'll NEVER comply in any way. Read my lips, NEVER!)
To: Red in Blue PA
Gee, ain't that sweet. Who's gonna be paying for those loans - oh yeah, that's right, the American Sucker, I mean taxpayer.
148
posted on
03/30/2010 9:52:57 AM PDT
by
Oceander
(The Price of Freedom is Eternal Vigilance -- Thos. Jefferson)
To: The Sons of Liberty
I’d like to know who paid off his student loans.. If he even had student loans to begin with.. Why does he get away with hiding such important information?
To: whitedog57
If you read his book, then you know how absolutely obsessed he is about race. He hates that he is a mulatto. HATES it. He is determined to make whitey pay.
150
posted on
03/30/2010 9:54:04 AM PDT
by
mojitojoe
(I don't care what you passed. you are irrelevant. I'll NEVER comply in any way. Read my lips, NEVER!)
To: Red in Blue PA
A doctor could get out with $400,000 in loans, get a job at a clinic paying $40,000 and then consult on the side. His discretionary income would come out of the $40,000. He could be making $300,000 consulting. A woman could get a degree in Fine Arts, and then go live with a guy and be an unmarried "housewife". As her discretionary income is zero, she would pay nothing.
151
posted on
03/30/2010 9:54:59 AM PDT
by
PapaBear3625
(Public healthcare looks like it will work as well as public housing did.)
To: rawhide
Who decides what is discretionary?It's calculated as Adjusted Gross Income above 150% of the official poverty line in your region for a family your size.
152
posted on
03/30/2010 9:55:44 AM PDT
by
Bubba Ho-Tep
("More weight!"--Giles Corey)
To: Red in Blue PA
The disgusting thing is, this was already signed into law right under our noses last summer. Google Income Based Repayment, signed into law 1 July, 2009. All the current legislation does is (i) Change cap from 15% of discr income to 10% and (ii) change 25-year forgiveness to 20-years.
To: divine_moment_of_facts
154
posted on
03/30/2010 10:04:09 AM PDT
by
mojitojoe
(I don't care what you passed. you are irrelevant. I'll NEVER comply in any way. Read my lips, NEVER!)
To: traditional1
I overheard a conversation at the public library yesterday between a table of minority “students”. They were talking about how much gov’t money they were getting for college. One guy got less than the girl and he said “hey, I deserve it!! My life is just as messed up as yours. I want my money too! I’ve got to finish my drug rehab first, and then I’ll go mo’ money.” Then they discussed the fact that you get grants and no loans, because heck, you’ve got to pay those back! “No way am I going to pay back any money!!”
To: mojitojoe
To: dinoparty
Why of course, whatever they vote for!
157
posted on
03/30/2010 10:08:12 AM PDT
by
arealconservativeforachange
(Tell JD Hayworth to run for McCain's seat! http://www.jdhayworth.com/contact.php)
To: atomicweeder
Did you account for interest.
158
posted on
03/30/2010 10:11:25 AM PDT
by
demshateGod
(The fool hath said in his heart, There is no God.)
To: mojitojoe
"Its on purpose as well."
Of course it's on purpose!
There is NO nation on earth that has a more loathing head of its nation as BO. I have more love in my little finger for America than he does his whole body, and I'm not even American.
To: Domandred
And of course us old borrowers who followed the rules get screwed.
Seriously. I wonder if we can re-fi our old loans after 2014. I don't see here if they're going to lower the interest rates on the loan. Right now, direct loans from the federal government have no better interest rates than what I'm paying now with my (semi-)private loans.
If they aren't offering a better interest rate, then I'll stay with my current lender anyway. All things being equal, I'd rather have a private entity than the U.S. Government as my creditor if money gets tight.
From what I'm seeing, they aren't changing the fact that student-loans are non-dischargeable in bankruptcy. Wasn't that one of the more controversial aspects of BAPCPA (the 2005 bankruptcy reform act)?
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