Posted on 03/30/2010 8:46:30 AM PDT by Red in Blue PA
This is a giveaway to his most ardent supporters -— left wing academia and will encourage people to get meaningless degrees that don’t help them get jobs.
The persons who pay will be, as usual, capitalists and those who actually produce things or services.
Geez, that makes all of us who paid back our loans in full with interest feel real good.
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.
This is THEFT folks!
Lawzy!
Massa Obama is the bes massa I done evah had!
Where’s mine? I went to school a while ago. Where’s my forgiveness?
And the degrees will be worthless, as they will be given out to anyone for anything.
Certain students, of course. Just sayin.
All we are doing is teaching these kids, Obama's stash will take care of it ... not to worry. With no "lessons" nothing is "learned."
So basically, you need to make sure you buy or rent a living space expensive enough to maximize your non-discretionary spending, so you make the absolute minimum student loan payments for 20 years. Then the debt disappears!
Or more acurately, your debt gets paid by other Americans, which is free money to you.
The whole student loan situation is a mess. The Gov made money easy and colleges jacked up their tuitions as a result of the easy money. Students across the company gambled by taking student loans with the hope they’d find jobs which would enable them to pay back the loans. Yeah the kids should have known better but who taught them? High school teachers who have no clue about what it’s like to work in the real private sector world? College loan offices who encouraged the excessive borrowing to pay for the excessive salaries? Parents who don’t have the money themselves to pay excessive tuitions? Why aren’t colleges being investigated for gouging students by means of the student loan program. Instead, we’re just tossing more money at the colleges who helped elect Bobo which will result in higher tuitions and more indebtedness. If future students are getting a “bailout” then surely past students should get that too.
not so fast sparky
read the fine print
I would wager there’s a hook in there for “Govt service” as an alternative payback
How amusing that this was shoved into the healthcare bill so the $$68 billion in “savings” (fees not paid to banks to administer the loans)- could be chalked as “savings” in the healthcare bill.
So, we have $68 Billion in “savings”- but it’s not going to the deficit- it’s going back to the little people to forgive their loans - especially loans used for tuition at those black and minority schools
And now, to show those greedy bank CEO’s how to run a nonprofit for the little people, obama’s federal bureacacy will expand to run the entire US student loan program with the fiscal effficiency and honesty of FHA, FNMA and the Post Office- with a dose of ACORN on the side
Ah Man! It doesn’t apply to me! Why doesn’t he just give everyone a college degree in something?
Every word you say is true.
The sad part is that these things are coming at us on a daily basis.
This isn’t about loan forgiveness...this is about more control. I wonder how much “volunteer” service will be expected in order to have one’s student loan repayed...
Yup, you know the script!
So if I buy more house than I can afford, wear designer clothing and only eat Wagyu beef, arugula and truffles I have less discretionary income and repay at a lower rate? And have the debt forgiven after 20 years as long as I live beyond my means but make my payments?
Or do they tell me what to buy, wear and eat based on my income?
A buy off for Obama Zombies!
Obama Zombies, by Jason Mattera
woo-hoo!! more free stuff!! mm-mmm-mmmmmmmmmmmmmm
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