Skip to comments.Washington Proposes $1 Trillion Bailout for Delinquent Student Loans
Posted on 11/30/2012 6:12:46 AM PST by chessplayer
A possible $1 trillion bailout is comingand soon.
Americas now-nationalized student loan industry just reached a value of $1 trillion, according to Citigroup, growing at a 20 percent-per-year pace. Since President Obama nationalized the industry (a tacked-on provision of the Obamacare bill), tuition has gone up 25 percent and the three-year default rate is at a record 13.4 percent.
(Excerpt) Read more at breitbart.com ...
All ObamaZombies get a thank you gift from Obama Claus for their November 6th “revenge” vote(s)!
Is there ANYONE who didn’t see this one coming? Talking about pay-back to his supporters...
It’s more the IDIOT parents they’re bailing out. The ones that cosigned, or otherwise enabled their kids to take out these loans for (mostly) WORTHLESS degrees.
They engaged in a very effective whispering campaign on college campuses during the fall. My daughter kept coming home from school and saying “Did you hear that Obama is going to forgive all the student loans?” Not a word in the mainstream press, but delivered dead on-target to the intended audience.
and he’s going to legalize pot!
(boy the young are suckers)
Value 1. Always force somebody else to pay YOUR financial obligations.
I got a 72 month loan at a good rate....
So if I run a little tight next month.... I will send my payment bill to congress since they seem to be willing to pay anyones loan no matter what...
Isn't this a great country or what?
I guess I was one of the unlucky ones who paid their loans off.
Can I get a retroative bailout?
Send it to the white hut, not Congress.
No problem. Just print more money.
Liberals=NO commonsense. NO sense of value other than what relates to them at any given moment. There is a void in their brains that disallows them to comprehend reality.
Money is paper with numbers, and symbolic designs in ink. Just have that fellow in the basement print some more. Dibs on the fresh ones.
Rush predicted this, but he felt it would come out just prior to the election. Since the yoot vote was in the bag, this seems now to be a ‘thank you’ gesture. My daughter, who now stupidly has paid her loans on time, will not benefit from this. She should have stopped paying during the campaign.
If a law could be passed that would force the university who accepted the defaulting student to swallow one-half of the default on every student loan, I believe that the government-university complex/cabal would soon be over.
There will be a minimum melanin threshold to meet if you’re going to get a handout.
My step son decided that computer design was too difficult a course to continue with (seems it required some outside of class work). So he switched to take graphic design instead over my commentary there was no economic future in that area. He then lost his scholorship due to poor grades. His mom told him we were not making up that difference; so he had to get a loan or drop out. He got a loan, got back on the scholarship program later and graduated 8 years ago. He has yet to pay back a cent on his loans, why? He cannot make a living. So, I guess we all get to pay it back now. What a country.
Our children and grandchildren buying more “free stuff” for Obama’s supporters.
Our country is in a very sad place, and still nothing is done to stop the madness, republican leaders are all part of the socialist New World Order.
That is where you are wrong. The parents aren’t the co-signers for these loans, the Federal government is. That is why they are “Federally guaranteed” student loans. In 1988, when I was 18, I signed a loan document for $6,500 despite having no credit history, no job, and no plan for paying it back. My parents didn’t sign a thing. And Uncle Sam was the one who had to pay back the loan if I wouldn’t or couldn’t. It’s a no loss for the financial institutes, and a huge loss for the taxpayer.
I say end the program, starve the modern University system of it’s endless supply of money, and make a college education a valuable commodity.
I'm convinced that 0bama's goal is to reduce America to a pathetic, miserable third-world hellhole ... sort of like his beloved native Kenya.