Obama Tackles College Loan Relief

[Schneibster]

The plan, consisting completely of actions the executive branch can take without further Congressional interference, continues. This time college loans come under scrutiny; Obama will allow loans to be combined at lower interest rates (reasonable since interest rates are now lower) and start forgiving loans older than 20 years rather than 25; and reduce the required repayment from 15% to 10% of discretionary income yearly. Since college students are generally low-income, they will spend the money soon, overall, and the velocity of this money will therefore be high, improving the economy. Best of all, it costs nothing. That's why Congress doesn't get to interfere.

Read all about it in the no-doubt highly controversial and left-wing slanted Associated Press.

[maiforpeace]

The plan, consisting completely of actions the executive branch can take without further Congressional interference, continues. This time college loans come under scrutiny; Obama will allow loans to be combined at lower interest rates (reasonable since interest rates are now lower) and start forgiving loans older than 20 years rather than 25; and reduce the required repayment from 15% to 10% of discretionary income yearly. Since college students are generally low-income, they will spend the money soon, overall, and the velocity of this money will therefore be high, improving the economy. Best of all, it costs nothing. That's why Congress doesn't get to interfere.

Read all about it in the no-doubt highly controversial and left-wing slanted Associated Press.

[Schneibster]

Da Schneib hates on da propaganda.

[Feck]

It's time Nations got back to the idea that an educated population benefits everyone and should not be funded on the basis of how much money a graduate can make and how soon we can grab back loans from them .

[maiforpeace]

Da Schneib hates on da propaganda.

You lie. You read Alternet.

[Schneibster]

Da Schneib hates on da propaganda.

You lie. You read Alternet.

I read the Asia Times, too. Don't mean I don't hate on it.

[Schneibster]

It's time Nations got back to the idea that an educated population benefits everyone and should not be funded on the basis of how much money a graduate can make and how soon we can grab back loans from them .

Bucky Fuller proved that if you just had the government acquire patent rights after the ordinary expiration for the patent holder, instead of releasing them to the public domain, for an additional seven years, you could fund education for everyone from the profits.

[mozg]

Well fuck me, perhaps i shouldn't have paid my loans back like a responsible person.

[Schneibster]

There's a recession on in case you hadn't noticed.

[Ian]

There's a recession on in case you hadn't noticed.

Not true, but it may as well be for recent graduates. They're hit especially hard.

[Schneibster]

There's a recession on in case you hadn't noticed.

Not true, but it may as well be for recent graduates. They're hit especially hard.

I should maybe have qualified it, "there's a recession on, on Earth?"

[Gawdzilla Sama]

Well fuck me, perhaps i shouldn't have paid my loans back like a responsible person.

I just had $97,000+ in student loans written off. That dollar a year shit actually paid off.

[pcCoder]

I owe loans and got mine consolidated several years ago under one lender. To be honest I think it is worse. I think the interest on the consolidated loans are higher than what the originals were. I don't see how I can ever repay the loans.

[Gawd]

The solution to this is war.

[Gawdzilla Sama]

...against the Joos!