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Student Loan Forgiveness May Be Coming In The Future
CNBC ^ | July 6, 2014 | Sharon Epperson

Posted on 07/06/2014 11:33:09 AM PDT by Steelfish

Student Loan Forgiveness May Be Coming In The Future Sharon Epperson CNBC.com

For many members of the class of 2014 who borrowed money to attend college, the clock is ticking on what is likely to be their biggest expense after graduation.

They'll have to start paying back their federal student loans in November or December—as the six-month grace period that lenders give new grads comes to an end. But depending on their income—or lack of income, if they're still looking for work—some borrowers may be eligible for much lower payments than they'd anticipated.

And eventually they could have their federal loans forgiven altogether.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy
KEYWORDS: academicbias; anotherhandout; studentloans; welfarestate

1 posted on 07/06/2014 11:33:09 AM PDT by Steelfish
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To: Steelfish

How many billions and billions more debt does this country think it can afford?


2 posted on 07/06/2014 11:37:52 AM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: Steelfish

“And eventually they could have their federal loans forgiven altogether.”

Mark my words, the complete forgiveness of federal student loans will never happen. The Democrats will use the plight of these debt-slaves for political advantage over and over again, most likely through absurd debt-reduction proposals that they know Republicans will reject, making for primo ad-copy.

If the loans are completely forgiven these young people might be able to save their own money, start families, buy property and next thing you know they’ll be voting to preserve the wealth they’ve earned as opposed to voting to have wealth seized from others.


3 posted on 07/06/2014 11:39:53 AM PDT by Junk Silver
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To: GeronL

Trillion is the new billion. And when you’re 20 trillion in debt, and on your grandchildren’s credit card, “what difference does it make?” The left believes deficits are meaningless.


4 posted on 07/06/2014 11:41:34 AM PDT by Sparklite
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To: Steelfish

Cochran buying votes for $15 each in Mississippi is cheap by comparison. Those folk in MS should have held out for $15,000 to $20,000 for their votes.


5 posted on 07/06/2014 11:41:57 AM PDT by ProtectOurFreedom
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To: Steelfish

Why not? People run up VISA and MasterCard to the limit with vacations, restaurants and luxury goods. Then they get to declare bankruptcy and start all over again. The suckers appear to be those who actually pay down their credit card bills.


6 posted on 07/06/2014 11:42:16 AM PDT by SamAdams76
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To: Steelfish

Cochran buying votes for $15 each in Mississippi is cheap by comparison. Those folk in MS should have held out for $15,000 to $20,000 for their votes.


7 posted on 07/06/2014 11:42:35 AM PDT by ProtectOurFreedom
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To: GeronL
How many billions and billions more debt does this country think it can afford?

As long as low info voters believe this money comes from the all-rich gov't it won't matter.

8 posted on 07/06/2014 11:42:47 AM PDT by umgud (I couldn't understand why the ball kept getting bigger......... then it hit me.)
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To: Junk Silver

It will be forgiven for the “right” people.


9 posted on 07/06/2014 11:45:13 AM PDT by rbg81
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To: Steelfish
Students get loans for higher education, because the "cost" is so high. The money gets paid into the school system, then is sent back to the dem politician of choice, who gets re-elected. They then forgive the loan, making the student happy, the teachers and profs happy, the politician happy, while the taxpayer gets another screwing.

What's not to like?

10 posted on 07/06/2014 11:45:39 AM PDT by going hot (Happiness is a momma deuce)
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To: Steelfish

That’s why former students are not paying their loan off. Obama keeps dangling the offer of forgiveness. Self fulfilling prophesy.

So a whole swath of freeloading people end up with (a) a college education, (b) paid for by the poor schlubs who had to work (taxpayers) who could not “afford” (they thought) to attend college, and (c) a new wave of resentment develops.


11 posted on 07/06/2014 11:46:33 AM PDT by shalom aleichem
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To: Steelfish

Annnnnnnd what about those that paid their obligation off without issue? S.O.L. huh?


12 posted on 07/06/2014 11:47:03 AM PDT by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
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To: GeronL
How many billions and billions more debt does this country think it can afford?

Don't worry, its all printed anyway, so there's lots more where that came from.

13 posted on 07/06/2014 12:02:03 PM PDT by PGR88
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5% Carry 100% of Free Republic Expense

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14 posted on 07/06/2014 12:05:25 PM PDT by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: shalom aleichem

They may have college educations but getting a job in their area of expertise is another thing. Know two who haven’t even had an interview. Just no job out there in their area. Working part time none career jobs


15 posted on 07/06/2014 12:06:17 PM PDT by hoosiermama (Obama: "Born in Kenya" Lying now or then or now)
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To: shalom aleichem

They may have college educations but getting a job in their area of expertise is another thing. Know two who haven’t even had an interview. Just no job out there in their area. Working part time none career jobs


16 posted on 07/06/2014 12:06:19 PM PDT by hoosiermama (Obama: "Born in Kenya" Lying now or then or now)
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To: going hot

The universities do nothing to lower cost, they do get government grants, they do raise tuition then government increases the amount that can be borrowed on student loans, universities promote socialism, big government, etc. REPEAT, again and again


17 posted on 07/06/2014 12:06:55 PM PDT by duffee (NO poll tax, NO tax on firearms, ammunition or gun safes. NO gun free zones.)
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To: Steelfish

My reward for paying off my student loans early....


18 posted on 07/06/2014 12:07:45 PM PDT by GraceG (No, My Initials are not A.B.)
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To: Steelfish

The ability to discharge ones debts in bankruptcy is what got us away from the debtors prisons and permanent ruin not so long ago.

Allowing, after a reasonable period of time, a person to seek bankruptcy protection, which is itself a discharge of debt, is not wrong it is in fact a good idea.

The fiscal problem is “how much can we afford”. That question is a good one. The question is why are we guarenteeing personal debt to lenders as a nation in the first place. And furthermore why are we doing so on degree’s that will have no ability to earn enough $$ to pay them back in the first place.

Nothing will halt the rise in education costs as fast as putting the brakes on lending. The schools will raise prices as high as the kids can borrow, and the rub is you do need a good education to succeed. So the kids are like lambs to the slaughter.

Stop insuring debt as a nation.
Stop preventing the same bankruptcy protections as the rest of debt is afforded.


19 posted on 07/06/2014 12:08:11 PM PDT by wonkowasright (Wonko from outside the asylum)
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To: duffee
Zactly.

Money laundering with an engine of socialism as a bonus.

20 posted on 07/06/2014 12:10:30 PM PDT by going hot (Happiness is a momma deuce)
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To: Junk Silver
Mark my words, the complete forgiveness of federal student loans will never happen.

I disagree. Those who decide to take the bait as indentured servants of the US Government will indeed get their educations loans forgiven. But, it's a devil's bargain.

21 posted on 07/06/2014 12:13:42 PM PDT by Pearls Before Swine
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To: Pearls Before Swine; Steelfish

Student Loan forgiveness will be Obama’s “October surprise” to help the Nov. elections for Rats.

Reality is, there is no ‘debt relief’ for young people - the country’s debt, borrowed from China, WILL be “paid” back by these very same young Americans.

And in order to finance “student loan debt relief” we will have to BORROW from China & others - again!

Guess who pays it back?...........


22 posted on 07/06/2014 12:22:21 PM PDT by 4Liberty (Our 13th Amendment abolished slavery, yet they continue forcing us to "transfer" our work products.)
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To: Steelfish

Student loans forgiven.

Stupid me. I avoided student loans. I took jobs. I sought out scholarships.

When I graduated (3 degrees two BS one MS ) I owed nobody nada.

Except my first boss who I promised to work with for 3 years.

Little did I know if I was a slacker the tax payer would bail me out.


23 posted on 07/06/2014 12:25:20 PM PDT by Mikey_1962 (Democrats have destroyed more cities than Godzilla)
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To: going hot
Boy did you nail it.

I remember when I was going to college 60-70s, you could afford to go with a part time job. Not a fancy private school but a solid state school. Now since government got involved in paying for a college education it is all but unfordable. Just like health care, when I was a young man going to the doctor or the hospital did not ruin you financially. Government mucks everything up.

24 posted on 07/06/2014 12:25:44 PM PDT by jpsb (Believe nothing until it has been officially denied)
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To: going hot
The money gets paid into the school system, then is sent back to the dem politician of choice, who gets re-elected.

Hillary Clinton just said that she gets $200,000 from each university that she speaks at, and then "donates" that money to her personal foundation.

You can bet that hubby Bill does the same, as do all the other Democrat politicians who speak at schools.

They all get their turns at siphoning the bucks from the universities, leaving the students with the higher tuition bills to pay for it all.

-PJ

25 posted on 07/06/2014 12:29:36 PM PDT by Political Junkie Too (If you are the Posterity of We the People, then you are a Natural Born Citizen.)
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To: 4Liberty

I am pretty sure China stopped leaning us money a couple years ago. In fact I think pretty much everyone stopped leaning us money except the Federal Reserve and the Feds just print the money, give it to the Treasury and then charge us interest.


26 posted on 07/06/2014 12:31:30 PM PDT by jpsb (Believe nothing until it has been officially denied)
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To: Political Junkie Too
leaving the students with the higher tuition bills to pay for it all.

If only that were the case, the consumer pressure would drive the cost down.

However, it is guaranteed by the feds, then it is forgiven. There is no down pressure, only higher and higher costs.

27 posted on 07/06/2014 12:37:57 PM PDT by going hot (Happiness is a momma deuce)
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To: Steelfish

Why does CNBC have two idiots displaying their idiocy by talking like that about taxpayer-subsidized student loans?

A 6%, unsecured student loan seems crazy compared to a 4%, real estate-backed mortgage that requires good credit, equity, and a proven source of income?


28 posted on 07/06/2014 12:42:03 PM PDT by 9YearLurker
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To: jpsb

True.

So, — enjoy your inflation-tax, kiddies!


29 posted on 07/06/2014 12:44:06 PM PDT by 4Liberty (Our 13th Amendment abolished slavery, yet they continue forcing us to "transfer" our work products.)
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To: wonkowasright

See Deuteronomy 15:1-2, et. seq. For that matter, see Leviticus 25:10 et. seq. Maybe also Luke 4:18-21.


30 posted on 07/06/2014 12:56:41 PM PDT by Unknowing (Now is the time for all smart little girls to come to the aid of their country.)
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To: Steelfish

Top university courses in the future:

Introduction to Roadkill Cuisine.

Windshield Washing Bums for the 21st Century.

Mandarin Language Studies for American Serfs.

Dumpster Diving for Fun and Profit.

Hooking up your Daughter with a Rich Foreigner 101.


31 posted on 07/06/2014 12:57:25 PM PDT by SnuffaBolshevik
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To: Steelfish

When do we get TAXPAYER forgiveness?


32 posted on 07/06/2014 1:01:41 PM PDT by SumProVita (Cogito, ergo....Sum Pro Vita - Modified Descartes)
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To: GeronL

It’s a simple way to get young LIV Millenials voters to vote Democrat. I have family members that voted for him because they thought he was going to let them off the hook and have their education for free. How is this fair to the universities that have to pay property taxes, maintenance fees, very high dollar staffing fees, etc... I’m guessing he will still pay them with OUR $$$’s by increasing taxes.

I despise how the man operates...


33 posted on 07/06/2014 1:01:45 PM PDT by jsanders2001
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To: Steelfish

I’ve said on here for years that when the millennials get uneasy over grandma’s early demise at the hands of the Death Panels, the regime will start issuing Groupons for student loan relief.

Now it’s happening.


34 posted on 07/06/2014 1:04:56 PM PDT by nascarnation (Toxic Baraq Syndrome: hopefully infecting a Dem candidate near you)
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To: jsanders2001

The Universities get paid by the taxpayers if this happens, they can raise their prices to whatever and the taxpayers will cover it.

How is this fair to the taxpayers?


35 posted on 07/06/2014 1:06:30 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: GeronL

The Universities get paid by the taxpayers if this happens, they can raise their prices to whatever and the taxpayers will cover it.

How is this fair to the taxpayers?

It’s not.


36 posted on 07/06/2014 1:07:53 PM PDT by jsanders2001
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To: GeronL

>> How many billions and billions more debt does this country think it can afford?

Well, what the young need to understand is they’ll be paying for it anyway — even those that didn’t irresponsibly take the problematic loans.


37 posted on 07/06/2014 1:08:19 PM PDT by Gene Eric (Don't be a statist!)
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To: Ghost of SVR4

Those are the ones who will feel betrayed. The ones who (a) worked their wqay through and paid and (b) the ones who duly paid off their student loans.


38 posted on 07/06/2014 1:48:00 PM PDT by shalom aleichem
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To: Steelfish
Student Loan Forgiveness May Be Coming In The Future...well of course it is - why else did the government take over the underwriting of the loans - free college education for all, like we gave everybody free houses a few years back.....
39 posted on 07/06/2014 1:58:34 PM PDT by Intolerant in NJ
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To: Steelfish
It's only fair. They shouldn't be made to pay for that exercise in vanity that's called "an education" these days.

Just go to the Endowment Funds for reimbursement when the class-action suits are filed.

40 posted on 07/06/2014 2:06:20 PM PDT by faszakutya
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To: Intolerant in NJ; All

Heck, we need these “indoctrinated” students to borrow from taxpayers to pay the salaries of left-wing professors from Anita Hill and Angela Davis, to Bill Ayers and his wife, and Ward Churchill, and the rest of the thousands of faculty at public liberal universities taking courses in Women’s Studies, Afro-American and Chicano Studies, why not? How else would Michelle Obama get to write her unreadable thesis?


41 posted on 07/06/2014 2:46:53 PM PDT by Steelfish (ui)
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To: GeronL


42 posted on 07/06/2014 3:14:51 PM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY - 86-44)
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To: shalom aleichem
"Those are the ones who will feel betrayed. The ones who (a) worked their wqay through and paid and (b) the ones who duly paid off their student loans."

...and now we're expected to subsidize the free educations of those who would call us obsolete.
43 posted on 07/06/2014 11:52:48 PM PDT by clearcarbon
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To: clearcarbon

Right. They will disdainfully refer to us as ‘chumps’.

No thank yous coming our way. Entitled means never having to say thank you.


44 posted on 07/07/2014 3:18:40 AM PDT by shalom aleichem
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To: Ghost of SVR4

Same thing with people who never needed a mortgage bailout. We’re the marks in this carney game.


45 posted on 07/07/2014 3:38:06 AM PDT by FreedomPoster (Islam delenda est)
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