Obama issues another executive order bypassing Congress

American Thinker ^ | 06/09/2014 | Rick Moran

[SeekAndFind]

In a bid to give one of the Democrat's vital constituencies a lhand, President Obama will issue an executive order today that will cap student loan repayments at 10% of a borrower's monthly income.

Politico:

President Barack Obama said in his weekly address Saturday that he would take action on student loan issues in the coming days, but gave no details. The executive order, first reported by the New York Times, will expand on a 2010 law that capped borrowers’ repayment but left a hole in eligibility for people with older loans. Those left out of that relief include people who borrowed before October 2007 or stopped borrowing by October 2011.

“This makes it simpler to have one set of terms,” said Jason Delisle, director of the New America Foundation’s Federal Education Budget Project. But he pointed out that all borrowers already have the option of basing loan repayments on their income.

Federal student loan debt reached more than $1 trillion last year, an amount that has some economists concerned is creating a chilling effect on spending, home-buying and other economic drivers.

“This is commencement season, a time for graduates and their families to celebrate one of the greatest achievements of a young person’s life,” Obama said Saturday. “But for many graduates, it also means feeling trapped by a whole lot of student loan debt.”

[jsanders2001]

He’s trying to ensure that he gets the Millenials’ votes for his 3rd term once he kills the 22nd amendment. So many of them are strapped with high college loans to repay that they would vote for him based on this alone.

[Ironfocus]

Why not go to the source and issue an executive order capping outrageous tuition fees, and make that retroactive? I guess he doesn’t want to tick off his loyal communist academia following.

[Vaduz]

Wonder how Obama thinks he’s helping students to obtain a loan for house or a car.......

[stylin19a]

so, if I’m unemployed,10% of $0.00 = $0.00 ?

[minnesota_bound]

Those making payments may think they are getting a deal. They are going to end up paying far more. This is a deal with the bankers for campaign money for the democrat party. The students are being “schooled” in democrat politics.

[Wyatt's Torch]

College Tuition CPI exploding over that of regular CPI thanks to the massive infusion of low rate government loans:

[GraceG]

I really feel like a damned fool now for paying off my student loans early....

I feel ike a legal immigrant who had to jump through all sorts of hoops to get citizenship only to watch a stream of people breaking the law basically getting in for free...

America, where being a Law Abiding and Responsible Citizen is punished.

[GraceG]

Why am I fool and cross streets at the crosswalk when I can just Jaywalk across the road all willy nilly....

Hell, the rule of law and contract and societal expectations are not followed any more...

All the Law abiding citizens and responsible citizens are feeling like chumps more and more...

[EDINVA]

“No. Student debt goes on forever, unless repaid.”

THAT will be the topic of NEXT WEEK’s Executive Order.

[Vaduz]

Indeed it’s became a lawless land thanks to Obama&co.

[1010RD]

The next Congress and POTUS is going to have an epic disaster on their hands sorting all this out.

Democrats create a mess and then fix it by doubling down on said mess.

[Gene Eric]

Midterms, midterms, midterms... It’s all about motivation for the midterms.