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Keyword: studentloans

Brevity: Headers | « Text »
  • A generation of Peter Pans

    05/16/2015 6:59:26 AM PDT · by rktman · 24 replies
    wnd.com ^ | 5/16/2015 | Patrice Lewis
    An interesting doom-and-gloom piece appeared on ZeroHedge this week entitled “A Generational Storm is Coming.” Apparently written as a rather depressing commencement address for the graduating class of 2015, it discusses the current economic realities facing young people and tends to put a lot of blame on the older generation for screwing them over. OK, fine, whatever. But it did have a couple of interesting points regarding college students: “[The student loan delinquency rate] will probably go much higher … as students take on more debt. Total outstanding student debt is expected to bubble up to $3.3 trillion by 2025....
  • A Generational Storm Is Coming

    05/13/2015 8:40:08 AM PDT · by all the best · 11 replies
    Bonner & Partners ^ | May 12, 2015 | Bill Bonner
    Yesterday, we began our high-minded graduation speech to the Class of 2015. We explained how the young graduates were not only the most heavily indebted in history, but also the least likely to be able to pay their debts. Median wages have been going down since these graduates were about five years old… So have economic growth rates. Today, we continue the speech no one wants us to give… You are heirs to claptrap, nonsense, bogus theories, and trillions of dollars in debt. The systems, programs, and institutions your parents set up are mostly worthless scams. Worse, they produce outcomes...
  • Debt-Free College? Democrats Learn the Wrong Lessons from Obamacare

    05/08/2015 1:25:37 PM PDT · by jfd1776 · 5 replies
    Illinois Review ^ | May 8, 2015 A.D. | John F. Di Leo
    Hillary Clinton, Marty O’Malley, Liz Warren, and other 2016 Democrat candidates for the presidency are apparently trying to differentiate themselves from the real-world economics of Republicans by returning to the tried-and-true method of promising to rob Peter to pay Paul, while giving the impression that YOU don’t have to worry, because, dear voter, YOU’LL never be Peter. The latest method is in capitalizing on the headlines about crippling college debt by setting "debt free college" as their goal. Now, as far as that goes, it’s a perfectly worthy goal. “Pay as you go” living has always been the responsible advice...
  • US Presidential candidate: Ted cruises to S.C.

    04/23/2015 9:27:26 AM PDT · by 2ndDivisionVet · 4 replies
    The Georgia Regents University Bellringer ^ | April 23, 2015 | Jessica Sager
    2016 presidential candidate Sen. Ted Cruz (R) spoke to a sold-out Newberry Hall during an Aiken Republican Club luncheon April 4. After the luncheon, The Bell Ringer interviewed Cruz about his views on education, including his wish to shut down the Department of Education. “It is because education is so important that it shouldn’t be governed by unelected bureaucrats in Washington, that it should be instead at the state or local level,” Cruz said. “And what we’ve seen right now is the Department of Education has grown into a bloated bureaucracy where what’s happening is they’re putting red tape, they’re...
  • The Real Student Loan Crisis Is The One Obama Created

    04/17/2015 5:28:23 AM PDT · by afraidfortherepublic · 20 replies
    Investor's Business Daily ^ | 4-16-15 | Editorial
    rresponsibility: A new report finds that 27.3% of student loans are delinquent. Why does this matter? Because thanks to President Obama, about $1 trillion dollars of student loan debt is owed to the federal government. Obama keeps trying to portray the student loan crisis as a problem suffered by students burdened by a mountain of debt when they graduate, and who are unable to make enough money to pay it back. But that's not the real crisis. First, average student loan debt is only a little over $20,000. A student who gave up his $5-a-day Starbucks habit could pay off...
  • Are Student Loans the new Sub-Prime Bubble?

    04/17/2015 7:46:44 AM PDT · by SeekAndFind · 6 replies
    American Thinker ^ | 04/17/2015 | Chriss Street
    On April 15 Tax Day, Americans paid about the same amount of income tax as total student loans outstanding. The St. Louis Federal Reserve on the same day published a report titled ‘Student Loan Delinquency: A Big Problem Getting Worse?' The Fed has determined that of the $1.3 trillion in non-bankruptcy-dischargeable student loans, the delinquency rate for students in repayment is over 27 percent. With tuition at the University of California and other top schools growing faster than inflation, student loan defaults are skyrocketing. Prior published student loan reports have stated that the “30+ days delinquency rate for all student...
  • Banks are bailing on the student loan business and it couldn't come at a worse time

    04/15/2015 12:22:31 PM PDT · by SeekAndFind · 32 replies
    Business Insider ^ | 04/15/2015 | Jonathan Marino
    Some of the world's biggest banks, including JP Morgan, Bank of America and US Bancorp, are withdrawing from the student loan market. That's according to a series of reports over the past couple years.It couldn't come at a worse time.That is because it coincides with a rise in students who want student loans.And, the amount of money those students want to borrow is also going up because the price of of a college education keeps rising.This chart tells the story: Federal Reserve Bank of New York -- Staff Reports April 2014 NY Federal Reserve report shows borrowers, and their average...
  • Rand Paul: College tuition should be a tax writeoff

    04/11/2015 1:14:11 PM PDT · by 2ndDivisionVet · 74 replies
    The Washington Post's Post Politics ^ | April 11, 2015 | Katie Zezima
    IOWA CITY, Iowa - Sen. Rand Paul called Friday for college tuition to be a tax writeoff in his first direct pitch to young voters of his presidential campaign. Paul used the power of the pocketbook, along with calls for electronic privacy and reforming the criminal justice system, to appeal to what he called the "Instagram generation," a constituency he sees as vital to his nascent presidential campaign. Paul blasted President Obama's plan for free community college, telling the crowd of a few hundred people, mostly students, that it won't work because someone has to pay for professors and facilities....
  • The Real Reason College Tuition Costs So Much

    04/06/2015 12:39:57 AM PDT · by iowamark · 56 replies
    New York Times ^ | APRIL 4, 2015 | Paul Campos
    ONCE upon a time in America, baby boomers paid for college with the money they made from their summer jobs. Then, over the course of the next few decades, public funding for higher education was slashed. These radical cuts forced universities to raise tuition year after year, which in turn forced the millennial generation to take on crushing educational debt loads, and everyone lived unhappily ever after... In fact, public investment in higher education in America is vastly larger today, in inflation-adjusted dollars, than it was during the supposed golden age of public funding in the 1960s. Such spending has...
  • A revolt is growing as more people refuse to pay back student loans

    04/02/2015 10:13:22 AM PDT · by SeekAndFind · 93 replies
    Washington Post ^ | 03/31/2015 | By Danielle Douglas-Gabriel
    Remember those 15 people who refused to repay their federal student loans? Their “debt strike” has picked up 85 more disgruntled borrowers willing to jeopardize their financial future to pressure the government into forgiving their student loans. And the government is starting to listen. The Consumer Financial Protection Bureau has invited the group to Washington on Tuesday to discuss their demand for debt cancellation. Although the CFPB doesn’t have the power to grant that request, the agency’s overture shows that the strike is being taken seriously. It’s been a month since 15 former students of the failing for-profit giant Corinthian...
  • College Debt Bubble Crisis: 33% Of All Student Loans Are Delinquent On Repayments

    03/31/2015 1:47:59 PM PDT · by SeekAndFind · 40 replies
    Market Daily News ^ | 03/31/2015 | Mac Slavo
    With all of that job creation being claimed by the Obama administration and disseminated by mainstream media outlets as signs of a sustained recovery you’d think most college graduates would have no trouble keeping up with their bills. But new data released by the Department of Education tell a different story. According to the report as many as 33% of American college grads with student loan debt are now in delinquent status on their repayments. About one-third of borrowers with federal student loans owned by the U.S. Department of Education are late on their payments, according to new federal data.The...
  • “Coach is Right” Saturday Short Stories

    03/28/2015 9:07:50 AM PDT · by Oldpuppymax · 4 replies
    Coach is Right ^ | 3/28/15 | John C. Velisek USN (Ret.)
    1.) Eleanor Holmes Norton Doesn’t Think We Have the Right to Know When Our President Is Selling Us Down the River Totalitarian Eleanor Holmes Norton, the non-voting House Delegate from D.C. believes the American people and their representatives in Congress haven’t the right to know all that is going on in government. “You don’t have a right to know everything in a separation-of-powers government,” claimed Norton. “That is the difference between a parliamentary government and a separation-of-powers government.” Norton’s statements were made in reference to subpoenas created by Congressman Darrell Issa’s House Oversight and Government Reform Committee. According to Norton,...
  • Obama aims to clamp down on federal student loan servicers

    03/10/2015 12:21:29 PM PDT · by Olog-hai · 15 replies
    Associated Press ^ | Mar 10, 2015 2:22 PM EDT | Josh Lederman
    President Barack Obama says college affordability isn’t just important for students, but for the nation as well. Obama told thousands gathered at Georgia Tech Tuesday that he is trying to make it easier for them to pay back student loans. He is aiming to clamp down on the private companies that service federal student debt. He acknowledged the modest move isn’t a “silver bullet.” But he says America needs the world’s most skilled and best educated workforce to compete in the global economy. …
  • MARK CUBAN: Forgiving $1 trillion in student debt is 'the worst thing we could do'

    03/10/2015 11:22:10 AM PDT · by SeekAndFind · 18 replies
    Business Insider ^ | 03/10/2015 | Peter Jacobs
    While the closing of Sweet Briar College last week caught many people in higher education by surprise, some saw it as an early sign of an inevitable college implosion. For years, entrepreneur and billionaire investor Mark Cuban has warned of a "student loan bubble" created by skyrocketing tuition and fueled by an endless supply of student loans. A radical solution to the student loan problem would be to forgive all student debt, as a viral essay by Robert Applebaum proposed six years ago. However, Cuban thinks massive student loan forgiveness would just make the bubble keep expanding. "Forgiving the debt...
  • What Do Conservatives Want For 2016? We Asked

    02/27/2015 1:17:47 PM PST · by 2ndDivisionVet · 7 replies
    National Public Radio ^ | February 27, 2015 | Amita Kelly
    Josh DiNatale (left) and Zachary Burns, St. Joseph's University students and members of their College Republicans chapter, get ready to pose for a photo with a cutout of Sen. Rand Paul at CPAC 2015. The Conservative Political Action Conference, held this week in Washington D.C., is prime time for 2016 Republican presidential hopefuls trying — yes, already — to win over a key part of their base. Former Gov. Jeb Bush, Sen. Ted Cruz, Ben Carson, Gov. Scott Walker and others paraded on and off the main stage, trying to fire up the crowd with their ideas for America's next,...
  • Democrats Using Dependency to Proselytize Young People

    02/16/2015 8:50:30 AM PST · by Kaslin · 10 replies
    Townhall.com ^ | February 16, 2015 | Charlie Kirk
    The late science fiction writer and founder of the Scientology-belief system, L. Ron Hubbard, has been loosely quoted or paraphrased as having said “If you want to gain control over people and get rich, give them a religion.” Decade’s later public debate still rages over the “religiousness” of Scientology, but no one can argue that it hasn’t successfully gained control over a large number of people and generated incredible amounts of dollars along the way. If votes are a democracy’s “cigarette currency” it would appear that “progressive” politicians from FDR to Barack Obama have found a way to tap into...
  • Obama: My basketball game is 'broke'

    02/07/2015 12:15:19 AM PST · by Cincinatus' Wife · 31 replies
    The Hill ^ | February 6, 2015 | Ben Kamisar
    After six years in office, President Obama says his basketball skills went from "nothing but net" to nothing. "I’ll be honest with you: my game is a little broke, I've been a little busy," he told a crowd of students and faculty at Ivy Tech Community College in Indianapolis on Friday, where he touted his new plan to give students who meet certain academic standards two free years of community college. "The risk-reward ratio starts shifting. The chances of an Achilles tear or an ACL injury is increasing each month, and then the satisfaction that I get from playing diminishes...
  • Obama's student loan program is $22 billion in the hole, and college ain't any cheaper

    02/06/2015 3:39:02 AM PST · by IBD editorial writer · 25 replies
    Investor's Business Daily ^ | 02/05/2015 | IBD Staff
    Debt: Having spent years chastising bankers for making risky loans, President Obama is now responsible for a $22 billion shortfall in the student loan program. Guess it´s not risky to gamble with other people´s money.
  • HIGHER EDUCATION

    02/01/2015 8:30:11 AM PST · by Oldpuppymax · 2 replies
    Coach is Right ^ | 2/1/15 | Suzanne Eovaldi
    As federal dollars pour into higher education, tuitions rise, administrative bloat expands, and part-timers teach more and more class sections! Allen B. West’s national Center for Policy analysis is offering a very critical view of “the higher education bubble” by researcher Farhad Mirzadeh. (1) “The result of infusing colleges with billions of dollars in additional funds will be to raise the cost of a college education even higher-just as student loans and federal grants have encouraged wasteful spending by colleges and universities across the country,” says West’s writer. A staggering ONE TRILLION DOLLARS in outstanding student loans equals more than...
  • What Do College Undergrads Spend Their Student Loans On: High-School Classes

    11/19/2014 7:55:12 AM PST · by SeekAndFind · 22 replies
    Zero Hedge ^ | 11/19/2014 | Tyler Durden
    Over the weekend we closed the chapter on the "mystery" of America's collapsing labor force and the record 90+ million Americans out of the labor force. As Pew reported, confirming what we had said all along, it has little to nothing to do with Boomers retiring - simply because under ZIRP they can't afford to retire - and everything to do with Millennials staying in school because they can't find the well-paying jobs they had expected, raking up $1.2 trillion (and exponentially rising) in government-funded student debt in the process. To wit: More and more Americans are outside the...
  • Obama Administration Announces Final Gainful Employment Rule

    10/30/2014 9:36:44 AM PDT · by Oldeconomybuyer · 12 replies
    The Huffington Post ^ | October 30, 2014 | By KIMBERLY HEFLING
    For-profit colleges with graduates unable to pay back their student loans could soon face scrutiny by the federal government. Schools with career-oriented programs that fail to comply with the new rule announced Thursday by the Obama administration stand to lose access to federal student-aid programs. To meet these "gainful employment" standards, a program will have to show that the estimated annual loan payment of a typical graduate does not exceed 20 percent of his or her discretionary income or 8 percent of total earnings. The Education Department estimates that about 1,400 programs serving 840,000 students won't pass. Ninety-nine percent of...
  • Grow Up, Millennials — And Stop Taking Money From Mom And Dad

    10/28/2014 11:48:39 AM PDT · by 2ndDivisionVet · 22 replies
    WBUR-FM's Cognoscenti ^ | October 28, 2014 | Amory Sivertson
    Last month — gulp — I turned a quarter-century old. To the boomers rolling your eyes right now and thinking, Twenty-five? You’re just a kid! I say this: Yes, by some standards, I am. By Beyoncé’s standards, I should have at least six albums and a fashion line under my belt. Regardless, 25 feels significant to me, so when I came across the headline “25 is the New 21” on The Atlantic’s website, I was intrigued — and soon, discouraged. Meet Emma, recent college graduate, daughter of the article’s author, Randye Hoder, and, apparently, exemplar of my generation’s extended childhood....
  • What Is With Our President?

    10/04/2014 3:58:52 PM PDT · by 2ndDivisionVet · 44 replies
    The National Review's Campaign Spot ^ | October 3, 2014 | Jim Geraghty
    From the last Morning Jolt of the week: What Is With Our President? Contemplating President Obama’s confident – and erroneous – assurance that Ebola was unlikely to reach America, and that if it did, America’s hospitals and doctors were prepared to diagnose and respond immediately — a veteran speechwriter for cabinet officials wrote in: In the times that I was involved in speeches for various folks in the previous administration they and those around him were highly attuned to hyperbole and statements such the one Obama made about Ebola. Now people can crack wise about Iraqi intelligence and the like,...
  • Another For-Profit College Bites The Dust

    08/30/2014 8:26:41 PM PDT · by 2ndDivisionVet · 6 replies
    The Daily Caller ^ | August 30, 2014 | Blake Neff
    Nearly 10,000 students across the country are facing an uncertain future following the sudden collapse of another for-profit college system this week. After a summer which saw the dramatic collapse of Corinthian Colleges, fellow for-profit education company Anthem Education is rapidly closing its doors after the company filed for bankruptcy this week. Prior to filing for bankruptcy, Anthem Education had no fewer than 34 different campuses around the country. That number is in rapid free fall, with nine campuses shutting down Friday after the Department of Education failed to approve a deal that would temporarily keep them open. Anthem’s collapse...
  • California couple struggling after being forced to pay deceased daughter’s student loans

    08/06/2014 6:47:14 AM PDT · by Innovative · 90 replies
    FoxNews ^ | Agu 6, 2014 | Fox News
    Lisa Mason had taken out close to $100,000 in student loans in order to pay for nursing school, and was making payments on the debt when she died. Steve Mason said he and his wife, who had co-signed the loans, were contacted immediately after his daughter’s death and were told they must start making payments. “We knew if she didn’t pay her debt we would be responsible by co-signing, but we didn’t know that if she died the debt would fall to us,” he said. Mason said his daughter’s debt has ballooned to $200,000 and the payments exceed $2,000 a...
  • Purchasing Power Sits Idle in the Basement

    07/30/2014 2:30:38 PM PDT · by SovereignSociety · 6 replies
    Economy and Markets ^ | July 29th, 2014 | Rodney Johnson
    Studying and understanding demographic trends is critical when predicting generational spending patterns and long-term economic trends in our economy and markets. The Pew Research Center estimates that in 2012, 57 million Americans lived in multi-generational households, which is defined as two or more adult generations under the same roof. This is more than twice the number of people in such arrangements in 1980. To be clear, no one thinks there’s a rush to bring the aging parents of boomers back into the family home. This is all about the kids who, at this point, have finished their education but...
  • Let Students Discharge College Debts In Bankruptcy? Yes, But...

    07/25/2014 5:42:54 AM PDT · by reaganaut1 · 46 replies
    Forbes ^ | July 24, 2014 | George Leef
    Ever since the obstreperous Occupy Wall Street protests of 2011, Americans have been getting an earful about the alleged crisis of student loan debt. Sensing a chance to appear both compassionate and pro-education, many lawmakers want to do something to ease the plight of indebted students. Senator Elizabeth Warren, for example, is pushing her populist plan of allowing students to refinance their loans at absurdly low interest rates. President Obama recently expanded the touchy-feely repayment system so that students would never have to pay more than ten percent of their discretionary income for 20 years before the rest of the...
  • What Liberals Really Want: 5 Goals for End of Obama’s Presidency (Voting, guns, student loans)

    07/18/2014 3:54:31 PM PDT · by 2ndDivisionVet · 8 replies
    ABC News ^ | July 17, 2014 | Caleb Jackson and Noah Weiland
    From reducing student loan debt to expanding voter rights to dealing with the scourge of violent crime, liberals have laid out an ambitious agenda for the waning years of the Obama presidency. At a day-long summit Wednesday organized by Generation Progress, the youth division of the influential Washington-based think tank Center for American Progress, speakers such as Vice President Joe Biden, Sen. Elizabeth Warren, D-Mass., and House Democratic Leader Nancy Pelosi articulated their goals to a Washington audience of more than 1,000. Here are five issues that came up again and again at the Make Progress National Summit, and the...
  • Student Loan Forgiveness May Be Coming In The Future

    07/06/2014 11:33:09 AM PDT · by Steelfish · 44 replies
    CNBC ^ | July 6, 2014 | Sharon Epperson
    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...
  • Debt Capital Diplomas: Many families facing the hefty price of sending their children to college

    06/23/2014 8:40:28 AM PDT · by SeekAndFind · 19 replies
    Townhall ^ | 06/23/2014 | Harry R. Jackson
    With high school graduation season out of the way, countless families are facing the hefty price tag of sending their children to college. Over the past five years, tuition rates for private four-year colleges have risen 14 percent, while rates for public colleges have risen 27 percent. If you look back thirty years, tuition has risen a shocking 1200 percent. There is plenty of speculation about the reasons for these rising costs, which have outpaced inflation for decades. But far more important to millions of parents is how to minimize and manage them. According to the National Center for Education...
  • The President and Michelle Obama on Work, Family, and Juggling It All

    06/20/2014 1:32:07 PM PDT · by 2ndDivisionVet · 15 replies
    Parade Magazine ^ | June 20, 2014 | Staff
    This week, America’s foreign policy is dominating the headlines, but it’s the White House’s second-term domestic agenda that’s the focus of our Parade cover story. On Monday, June 23, the President and Mrs. Obama will host a Working Families summit in Washington, D.C. to discuss the need for affordable childcare and paid family leave, raising minimum wage, and achieving equal pay for all. In an interview conducted by Parade Editor-in-Chief Maggie Murphy and contributing writer Lynn Sherr on May 20, the Obamas opened up about their personal connection to these issues and what they hope to accomplish during their remaining...
  • Chelsea Clinton: More community service needed

    06/16/2014 5:55:54 PM PDT · by Olog-hai · 38 replies
    Associated Press ^ | Jun 16, 2014 8:20 PM EDT | Christina A. Cassidy
    Chelsea Clinton, who has played an increasingly prominent role in her family’s foundation, used a speech Monday to call for more community service opportunities for a younger generation and said she supports efforts that would allow more college graduates to reduce their student loan debt through volunteering. Clinton, 34, who serves as vice chair of the Clinton Foundation, spoke to about 5,000 people gathered for the “Service Unites” conference sponsored by the Points of Light Foundation, and also participated in a panel discussion on inspiring young people to become more involved. “It is in all of our interests to ensure...
  • Help coming for student-loan borrowers, White House says

    06/16/2014 8:59:43 AM PDT · by SeekAndFind · 55 replies
    San Jose Mercury News ^ | 06/16/2014 | Katy Murphy
    The prospect of a lower monthly bill on his $70,000 student loans is music to Nathan Marken's expensively trained ears. A property manager by day and opera singer by night, the San Francisco resident has managed to pay the $500 bill awaiting him each month, at the expense of retirement savings and other investments. But a plan announced this week by President Barack Obama that would cap monthly payments as a percentage of a borrower's income could ease the burden for heavily indebted college graduates such as Marken. "Something has to be done," he said, "and I think the president...
  • Obama blasts GOP at high school graduation, tells students to vote Democrat

    06/12/2014 3:33:46 AM PDT · by 2ndDivisionVet · 41 replies
    The Washington Times ^ | June 11, 2014 | Ben Wolfgang
    <p>They’re barely old enough to vote, but graduating seniors at a Massachusetts high school were encouraged Wednesday by President Obama to boot Republicans from office and help the administration enact more of its agenda.</p> <p>Speaking at the commencement service at Worcester Technical High School in Worcester, Mass., the president slowly transitioned from delivering a pep talk to leading a political pep rally.</p>
  • Elizabeth Warren student loan bill stalls

    06/11/2014 8:52:17 PM PDT · by Republican Wildcat · 11 replies
    Politico ^ | 6/11/2014 | Maggie Severns
    ... Warren’s bill sparked a fierce debate in the Senate, where Republicans said Democrats are cynically capitalizing on student loan debt for election-year gains. “I’ve been calling on the majority leader to press pause on his party’s non-stop campaign,” Senate Minority Leader Mitch McConnell (R-Ky.) said Wednesday morning. President Barack Obama and second lady Jill Biden had thrown their support behind the bill in recent days, and Obama on Monday rolled out new executive actions to help address student loan debt alongside the action in the Senate. Senate Democrats “want an issue to campaign on to save their own hides...
  • Dem student loan bill fails

    06/11/2014 9:34:03 AM PDT · by jazusamo · 32 replies
    The Hill ^ | June 11, 2014 | Ramsey Cox
    Greg Nash Senate Republicans blocked consideration of a bill that would allow people to refinance their student loan debt in a 56-38 vote on Wednesday. Democrats needed 60 votes to advance the refinancing measure, but Sens. Susan Collins (Maine), Bob Corker (Tenn.) and Lisa Murkowski (Alaska) were the only Republicans to vote with Democrats. “In America today, millions of Americans are caught in financial quicksand, and they are looking for a helping hand to pull them to safety,” Senate Majority Leader Harry Reid (D-Nev.) said. “Instead, the Republican leader has reaffirmed his commitment to the status quo. Why reform...
  • Obama To Shift Student Debt Burden To Taxpayers

    06/10/2014 4:18:33 PM PDT · by jazusamo · 26 replies
    Investors.com ^ | June 10, 2014 | IBD Editorial
    Entitlements: President Obama's working feverishly with Senate Democrats to build political pressure to force taxpayers to pay for mounting student debt with loan forgiveness schemes. Hold on to your wallets. This week, Obama signed an executive order capping the payments that millions of student borrowers make on their school debt at 10% of their income, no matter how much they owe. After 10 years, their debts are entirely forgiven if they work for the government or a nonprofit. The plan would cost more than $7 billion in the first year alone. And later this week, Senate Majority Leader Harry Reid...
  • Tweaking the GOP, Obama signs memo to expand student debt relief; endorses Democratic bill

    06/10/2014 8:12:52 AM PDT · by SoFloFreeper · 7 replies
    US NEWS AND WORLD REPORT ^ | 6/9/14 | JOSH LEDERMAN
    Up to 5 million Americans struggling to make their monthly student loan payments could find relief under a program President Barack Obama expanded Monday, part of an election-year push by Democrats to paint Republicans as blocking common-sense steps that could help the middle class.....
  • Obama Calls Out ‘Millionaires’ to Pay for Student Loans

    06/10/2014 6:08:08 AM PDT · by LucianOfSamasota · 55 replies
    The Heritage Foundation The Daily Signal ^ | June 09, 2014 | Kelsey Harkness
    Using his pen again in “this year of action,” President Obama today signed an executive order to ease the burden of student debt at the expense of “millionaires.” The program, “Pay as You Earn,” expands an existing federal loan option available to undergrad and graduate students. It issues caps on monthly loan payments at 10 percent of the borrower’s discretionary income and forgives their remaining balance after 20 years. For those working in public service or the government, any remaining debt is forgiven after 10 years. An estimated 5 million more borrowers will become eligible under the new plan. Before...
  • The Latest Student-Loan Charade

    06/09/2014 5:02:26 PM PDT · by Oldeconomybuyer · 13 replies
    Wall Street Journal ^ | June 9, 2014
    You can tell an election is coming, because President Obama is promising more student-loan relief to young people who are growing less enthralled with his economic record. The latest exercise unveiled Monday is also supposed to make these young people forget the loan burden that earlier free lunches supposedly provided. The taxpayer losses will come on some other President's watch. The President also tried to help Democrats struggling to hold the Senate by endorsing still another expansion of student-loan subsidies. Majority Leader Harry Reid plans to hold a vote this week on Sen. Elizabeth Warren's bill to allow borrowers to...
  • King Obama Vows to Go Around Congress on Student Loans

    06/07/2014 12:16:26 PM PDT · by bestintxas · 51 replies
    breitbart ^ | 6/7/14
    In this week's address, President Barack Obama underscored the importance of helping to lift the burden of crushing student loan debt faced by too many Americans and highlighted the efforts he's taken to ensure we uphold America's commitment to provide a quality education for all who are willing to work for it.
  • Congratulations, class of 2014: You’re totally screwed

    05/19/2014 12:06:25 PM PDT · by QT3.14 · 38 replies
    Slate ^ | May 18, 2014 | Thomas Frank
    Welcome to the wide world, Class of 2014. You have by now noticed the tremendous consignment of debt that the authorities at your college have spent the last four years loading on your shoulders. It may interest you to know that the average student-loan borrower among you is now $33,000 in debt, the largest of any graduating class ever. According to a new study by the Pew Research Center, carrying that kind of debt will have certain predictable effects. It will impede your ability to accumulate wealth, for example. You will also borrow more for other things than people without...
  • Sallie Mae pays $100 million fine for overcharging military (Student loans)

    05/13/2014 4:30:36 PM PDT · by Libloather · 6 replies
    WTVR ^ | 5/13/14 | DeeVa Payne
    WASHINGTON (CNNMoney) — Some 60,000 active-duty service members could their get money back from lender Sallie Mae Bank for overpaying on their student loans, the Department of Justice said Tuesday. Sallie Mae agreed to pay nearly $100 million in fines to federal regulators for overcharging military members as far back as 2005 on government student loans. Federal law discounts interest rates on all student loans for active duty military service members, capping them at 6%. Sallie Mae not only failed to discount the rates, but also made it tough for some service members to prove they qualified for the lower...
  • Our Generous Uncle Sam: Lenient College Debt Rules Encourage Students To Keep Borrowing

    05/09/2014 10:03:47 AM PDT · by reaganaut1 · 6 replies
    Forbes ^ | May 8, 2014 | George Leef
    People keep talking about the high burden of college debt, which now surpasses credit card debt. And the federal government is doing something to help. Unfortunately, what it is doing makes the problem worse. Student loan debt has risen more than any other category, according to a February report by the Federal Reserve Bank of New York. That’s surprising because college enrollments (and also enrollments in many graduate and professional schools) have been declining. So why is that student debt mountain still growing? Instead of paying their debts down, many graduates are either keeping their loan balances steady or even...
  • College Gets Even More Costly: Federal Student Loan Rates Set To Rise [Obamanomics Fail]

    05/08/2014 4:52:29 AM PDT · by SoFloFreeper · 10 replies
    Forbes ^ | 5/7/14 | Maggie McGrath
    Bad news for students who need to borrow federal student loans: your interest rates for the 2014-2015 school year will be higher than they were during the 2013-2014 academic calendar.
  • Elizabeth Warren: Hey, let’s help students refinance their loans by raising taxes on the wealthy!

    05/07/2014 7:40:46 PM PDT · by SeekAndFind · 38 replies
    Hotair ^ | 05/07/2014 | Erika Johnsen
    The Democrats’ push to hike the national minimum wage is merely the crown jewel in the so-called “fair shot” agenda that they hope will erase ObamaCare from voters’ minds by the time they hit the ballot box this November; the next action item on their intellectually (not to mention fiscally) bankrupt list is a similarly redistributive and equally lame pander to the young people who have lately been electorally shuffling away from them. Sen. Elizabeth Warren, it’s your cue: Warren, a Massachusetts Democrat, is poised to introduce a bill which, in part, would allow people holding student loans financed at...
  • 94% Of March Consumer Credit Was For Student And Car Loans

    05/07/2014 12:45:27 PM PDT · by SeekAndFind · 34 replies
    Zero Hedge ^ | 05/07/2014 | Tyler Durden
    Another month, another confirmation that when it comes to the US consumer, it is all about student debt (and to a lesser extent, car loans). Moments ago the Fed reported that consumer credit number for March: at $17.5 billion, it not only blew out the expectation of a $15.5 billion increase (although when one adds last month's $3.5 billion downward revision to $13.0 billion the two month total actually missed), but was the highest monthly increase since February 2013. That's the good news.  The bad news was once again in the composition: of this $17.5 billion $16.4 billion was...
  • College Isn't For Everyone

    04/06/2014 5:26:49 AM PDT · by Kaslin · 85 replies
    Townhall.com ^ | April 6, 2014 | Kevin Glass
    In his first address to Congress after being sworn in as President of the United States, President Obama laid out an aggressive progressive agenda for increasing the number of Americans with college degrees over the next ten years. "We will provide the support necessary for you to complete college and meet a new goal," he promised Americans, "by 2020, America will once again have the highest proportion of college graduates in the world." President Obama's goal here completely misdiagnoses what ails our higher education system. A culture that encourages and a government that and subsidizes higher education has driven up...
  • The College Education Scam

    04/01/2014 8:32:34 PM PDT · by rightwingerpatriot · 21 replies
    Rightwingpatriot.com ^ | April 1, 2014 | Rightwingerpatriot
    For the last few decades, students have been fed a whopping lie. This falsehood is that you'll need a college education to succeed in the marketplace and have a successful job or career. To that end, enrollment has skyrocketed, and along with that surge has been the increase of price of going to college. To pay for college, students take out student loans and go massively into debt. The sad fact is that after graduation, they find themselves with a normally worthless degree and tens of thousands in the hole. They've fallen prey to the college education scam. From 1985...
  • HHS (Dept. of Ed.)Swat Team Raids Home Over Student Loans

    03/16/2014 8:58:56 AM PDT · by wildbill · 52 replies
    A father was dragged from his home and handcuffed in front of his children by a SWAT team looking for his estranged wife – to collect her unpaid student loans... Mr Wright was later told by Stockton police that the order to send in the SWAT team came from The U.S. Department of Education who were looking for his estranged wife to collect defaulted loan payments.