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U.S. should trade student debt for public service
NJ Star Ledger ^ | 05/16/2012 | Dawood Farahi and Benito Nieves

Posted on 05/16/2012 10:04:52 AM PDT by SeekAndFind

If ever there were an issue that ought to unite Democrats and Republicans, it should be the nation’s burgeoning student debt crisis. No elected official, regardless of ideology, should be in favor of burdening our young people with crushing debt simply because they followed their dream of attaining a college degree.

During a recent conference call between President Obama and higher education officials, students and political leaders, we were struck by the urgency in the president’s voice. He clearly understands that student debt is more than a “manufactured crisis,” as Senate Minority Leader Mitch McConnell of Kentucky described it. It is a genuine crisis that will lead to delayed marriages and families, fewer first-time home sales and an overwhelming sense of despair among young graduates.

This is not just a student issue, but a societal issue, the responsibility for which must be shouldered by us all. We sent a message to young people that a college degree was the surest path to success and security in our global, knowledge-based economy. Yet for those with the will but not the means, this is nothing more than an unfunded mandate.

The president urged us to support a measure that will stop a doubling of interest rates on federally subsidized Stafford student loans. The interest rate on Stafford loans is due to increase from 3.4 percent to 6.8 percent on July 1 unless the president and Congress act to block the hike. If we do nothing, some 7 million students will be affected.

It is clear the interest rate increase would have painful consequences for students who already struggle to manage student loan debt and an unwelcoming economy. What’s more, even if the interest rate remains unchanged, millions of graduates face the prospect of enormous financial liabilities at time of weak job growth

(Excerpt) Read more at blog.nj.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: college; liberalidiots; studentdebt; studentloans; tuition

1 posted on 05/16/2012 10:04:54 AM PDT by SeekAndFind
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To: SeekAndFind

The indebted students can work off their debt by joining the OWS movement.


2 posted on 05/16/2012 10:07:27 AM PDT by Paladin2
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To: SeekAndFind

“This is not just a student issue, but a societal issue, the responsibility for which must be shouldered by us all. We sent a message to young people that a college degree was the surest path to success and security in our global, knowledge-based economy. Yet for those with the will but not the means, this is nothing more than an unfunded mandate.”


ah yes...a “societal issue”....funnny- it wasn’t a societal issue the ten years it took me to pay back my student loans in full...no one came up with any other alternatives then what is signed for- pay back the loan or we will put liens against you...

I pay my taxes on time, paid my mortgages on time and paid my student loans back in full...in the day and age of obama i am the one who’s the fool...


3 posted on 05/16/2012 10:08:28 AM PDT by God luvs America (63.5million pay no federal income tax then vote demoKrat)
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To: SeekAndFind

“The borrower is the slave of the lender.” - Proverbs, the Bible

So, now students should become slaves to the government to pay off their debt?


4 posted on 05/16/2012 10:12:05 AM PDT by Brookhaven (Don't mistake my vote for Romney as a vote FOR Romney, it's a vote against Obama.)
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To: SeekAndFind

The ACLU would be all over this as slavery. But it WOULD be fun to watch since most students won’t even clean up their rooms.


5 posted on 05/16/2012 10:16:08 AM PDT by freeangel ( (free speech is only good until someone else doesn't like it)
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To: SeekAndFind

Obama purposely created the Indebted Student Class.

Obama can easily activate this group of people by stating that if you re-elect me I will make education free and will let you write off your student loan.

Everything done by the Leftist Democrats has a purpose.


6 posted on 05/16/2012 10:17:29 AM PDT by Presbyterian Reporter
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To: SeekAndFind
My experience with students is that they don't have a basic or realistic conception of ‘work’ is.

We had a student assistant and he was looking for work in the summer.

Photography was his hobby. I suggested that he take out a small ad in the local newspaper and do bridal/graduation pictures...etc. He would be his own boss and make as much $$$$ as he wanted. It would be EASY!

A light bulb went on in his head!!! ‘Never thought of that’

He's the same kid who turned down a $12 an hour spot at the cable company because they wanted him to cut his hair. I calculated what he'd make in just three months before school resumed.... he was dumbfounded!!! “I could buy a car!”

7 posted on 05/16/2012 10:17:48 AM PDT by SMARTY ("The man who has no inner-life is a slave to his surroundings. "Henri Frederic Amiel)
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To: SeekAndFind
"No elected official, regardless of ideology, should be in favor of burdening our young people with crushing debt simply because they followed their dream of attaining a college degree. "

Why not? I had to pay off my car loan. I was simply following my dream of attaining an S10.

8 posted on 05/16/2012 10:19:36 AM PDT by Slump Tester (What if I'm pregnant Teddy? Errr-ahh -Calm down Mary Jo, we'll cross that bridge when we come to it)
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To: SeekAndFind

Isn’t it funny that I can apply for a loan for a car, boat, house or even for a new wardrobe; and the bank asks questions. They want to know how much I make, how much I anticipate making in the next couple of years. And based upon my history and my future likelihood of paying off the loan, they will determine both the interest rate, as well as the maximum amount they are willing to lend me. If my business grows during the loan time, at some rate, the bank may increase my debt ceiling. So, this isn’t uncharted territory, or rocket science.

So, why does a student working towards becoming a Medical Doctor, Engineer, Lawyer, Chemist or other hard science line of study get measured by the same standard as those pursuing a degree that has practically no potential for return, such as Wymen’s Studies, Black Studies, Theater, Art, Music, Home Economics, Child Development and a host of others.

If this were managed “properly” the lending institution would say “We see no possible way for you to repay the tuition, based upon your income, your family’s income and the potential likelihood of you using this education to get a job that will repay this loan”.

If I opened a store selling shoes for cats, I doubt that any bank would lend me money to purchase a Porsche; unless I could show that sales were of a level to justify the risk.


9 posted on 05/16/2012 10:26:10 AM PDT by Hodar ( Who needs laws; when this FEELS so right?)
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To: SeekAndFind

My thought for some time has been to offer tax incentives for industry to fund scholarships in fields they wish to recruit. That way the students have no debt, industry has the trained professionals that they need to compete, Universities will turn out trained professionals rather than commie agitators, and the government is less directly involved in the education process.


10 posted on 05/16/2012 10:27:43 AM PDT by LucianOfSamasota (Tanstaafl - its not just for breakfast anymore...)
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To: SeekAndFind

The students would of course do socially relevant work in organizing neighborhoods and identifying those who don’t go along.

A civilian work cadre hundreds of thousands strong, all working to keep progressives in power!

And high schools turning out more every year.


11 posted on 05/16/2012 10:29:28 AM PDT by DBrow
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To: LucianOfSamasota

You mean a free-market value-added approach where everybody involved benefits? Sounds like a fine idea.

If someone wanted to get a Masters in Cajun Victimology Studies they could still pay for it themselves, though.


12 posted on 05/16/2012 10:31:22 AM PDT by DBrow
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To: SeekAndFind

I partially agree with this article but caution folks to consider this: Government jobs do not produce a product. In other words if a person is working for the government the government has to pay that person and the resulting work does not produce revenue to pay for the job. It will produce a service but no revenue.
There are many counties that use this technique to thier benefit and the one that pops into my head is Germany. Every citizen owes two years to the state upon graduation from High School. They can select a variety of fields that include Public Health, Police and City/State services like water/sewer/electric, clerical services for the state and yes the military. It is good in that these kids receive job experience and transfer out after two years to work for businesses. Tansfer into the civilian workforce is important to keep the salaries down at a minimum but livable wage so you don’t get a clerk that makes 100,000 bucks a year and lives off the govt tit forever. Perhaps this could be more palatable if the Govt subsidized these jobs to private business for two years and let the business world select their candidates after that.


13 posted on 05/16/2012 10:31:24 AM PDT by timlilje
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To: Brookhaven

More like indentured servants, but close enough.

What we as a country are doing to our young is unconscionable.


14 posted on 05/16/2012 10:33:26 AM PDT by FreedomPoster (Islam delenda est)
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To: Brookhaven
“The borrower is the slave of the lender.”

Exactly why liberalism is immoral & must be destroyed.

15 posted on 05/16/2012 10:46:55 AM PDT by Digger (If RINO is your selection then failure is your election)
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To: Brookhaven

“So, now students should become slaves to the government to pay off their debt?”

What else do you expect from the party of slavery.

First they take over all the loans - then they enslave the debtors.


16 posted on 05/16/2012 10:47:29 AM PDT by JCBreckenridge
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To: FreedomPoster

“What we as a country are doing to our young is unconscionable.”

Finally. Someone who sees the truth. There isn’t enough money to keep the system going without enslaving the youth, so that is what will happen. They will enslave us for a pittance to keep the whole system spinning.


17 posted on 05/16/2012 10:50:29 AM PDT by JCBreckenridge
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To: FreedomPoster

I agree.

10 years ago you could get a Bachelor’s degree at a DIV II college payed for entirely with student loans and be indebted at the end of it with $30k max. Your prospects of getting a $30-$40k a year job were realistic and paying $250 a month your student loans would have been payed off by now. And if something bad happened (like being injured to the point you couldn’t work anymore) then you could always declare bankruptcy and have the student loan dispatched.

Now it is entirely different. A Bachelor’s degree is going to run you $90k and when you get out your prospects of finding a job are very poor. Even if you had a job, the odds of keeping it are not great either. Not only that but the debt follows you for life, now way to dispatch the debt via bankruptcy.

Debt Slavery is a very real thing, it is what the Baby Boomers are leaving as a legacy to their grandchildren. Shameful.


18 posted on 05/16/2012 11:00:58 AM PDT by RC51
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To: SeekAndFind
Saw this coming.

Can you say "indentured servitude?"

This was the plan all along; to enable Eric Holder's people to enslave non-Eric Holder's people.

19 posted on 05/16/2012 11:02:17 AM PDT by E. Pluribus Unum (Do I really need a sarcasm tag? Seriously? You're that dense?)
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To: timlilje

RE: Government Jobs.

I just went to New York’s Craigslist website and did a search on Government Jobs.

Here are the hits I got for yesterday and today. This will give you and inkling of what is in store if you go on “public service”:

http://newyork.craigslist.org/gov/

_____________________________________

**SUMMER CAMPAIGN JOBS! HELP SHAPE PUBLIC POLICY IN NY! $5500-$8000** - (Manhattan) img

FIGHT FOR CIVIL RIGHTS Summer Jobs $5,000-$8,000

Build Support for Clean Air Standards - Salaried Campaign Jobs -

Community Organizing for Crucial Progressive Causes - (Chelsea)

Mon May 14

Fight back against the war on women $5000 - $8000 / Summer - (Midtown) img

Summer Jobs to Fight Far-Right Extremism in 2012 - (Midtown) img

Volunteers For NY Senate Campaign -

United States Army Looking for Strong Soldiers - (All Boroughs) img

Sun May 13

Project Support for OMC - (Ft. Hamilton)

Fri May 11

SUMMER JOBS!!! FIGHT CLIMATE CHANGE!!! Work Outside, Love Your Job - (Westchester,Long Island,Syracuse,Buff,CT) img

SUMMER JOBS!!! FIGHT CLIMATE CHANGE!!! Work Outside Love Your Job - (White Plains, Long Island, CT, Syracuse) img

IT Associate (Provisional) - Operating Systems/Windows -

IT Associate (Provisional) - Operating Systems/UNIX -

93 Anti-Choice Laws Passed Last Year: Work to Protect Women’s Rights - (Midtown) img

______________________________________

Here’s one example of a job description :

http://newyork.craigslist.org/mnh/gov/3016526219.html
_________________________________

Community Organizing for Crucial Progressive Causes (Chelsea)

Date: 2012-05-15, 9:49AM EDT
Reply to: see below

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20 posted on 05/16/2012 11:05:00 AM PDT by SeekAndFind
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To: Presbyterian Reporter

>Obama purposely created the Indebted Student Class.<

If I recall correctly, the Dem majority Congress under Bush passed a law that made it impossible to discharge student loan debt.

Once that passed, college tuition took a huge jump and has been climbing steadily ever since.


21 posted on 05/16/2012 11:12:15 AM PDT by Darnright ("I don't trust liberals, I trust conservatives." - Lucius Annaeus Seneca)
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To: SeekAndFind
Been doing it for years.

Join the Army, Navy, or Air Force. They will pay off you student loan debt, to a point. You might have to go more than one enlistment to cover that third doctorate in ________studies.

22 posted on 05/16/2012 11:22:08 AM PDT by fireforeffect (A kind word and a 2x4, gets you more than just a kind word.)
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To: Paladin2
The indebted students can work off their debt by joining the OWS movement.

Exactly what they have in mind. (you didn't think the "public service" they were assigned was going to involve candy striping at Walter Reed, did you?)
23 posted on 05/16/2012 12:03:33 PM PDT by Buckeye McFrog
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To: Darnright

“”If I recall correctly, the Dem majority Congress under Bush passed a law that made it impossible to discharge student loan debt.””

What do you mean by discharging a debt? Can you explain further so I understand the background?


24 posted on 05/16/2012 2:51:33 PM PDT by Presbyterian Reporter
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To: Presbyterian Reporter
"What do you mean by discharging a debt?"

Through bankruptcy.

25 posted on 05/16/2012 3:37:44 PM PDT by Paladin2
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