You get the prize for the funniest add-on byline so far this week.
The circle is complete.
The union owned schools create kids who seek liberal arts degrees.
The Union Corps ensure the costs of those degrees out pace inflation by a factor of over 200%.
The Unions get the Company store owned Democrats to have taxpayers pay for those liberal arts degrees.
The students are just an incidental political tool of convenience. This is really a full-employment program for marxist university professors and administrators at the taxpayers’ expense. Doing for surplus academics what he’s already done for the UAW.
So this is why he took over loans, so he could come back and, as Drudge says, be the Candyman?! Limit the payback amount and duration of loan. Another “chosen” group....
Take this example: If Suzy Creamcheese gets into George Washington University and borrows from the government the requisite $212,000 to obtain an undergraduate degree, her repayment schedule will be based on what she earns. If Suzy opts to heed the presidents call for public service, and takes a job as a city social worker earning $25,000, her payments would be limited to $1,411 a year after the $10,890 of poverty-level income is subtracted from her total exposure.
Twenty years at that rate would have taxpayers recoup only $28,220 of their $212,000 loan to Suzy.
The president will also allow student debtors to refinance and consolidate loans on more favorable terms, further decreasing the payoff for taxpayers.