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Keyword: studentloans

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  • Rush Limbaugh: Sandra Fluke 'Coordinating' With White House on Student Loan Issue

    04/25/2012 3:11:51 PM PDT · by SunkenCiv · 21 replies
    via Mediaite ^ | April 24, 2012 | Meenal Vamburkar @ Fox Nation
    On his show Tuesday, Rush Limbaugh brought up a name that recently enveloped him in controversy: Sandra Fluke. But it wasn't about contraception. This time, the topic at hand was student loans. Saying Fluke is "coordinating" with the White House, Limbaugh noted the their similar tweets about rising interest rates on loans. "Lookie here," Limbaugh said. "Barack Obama just warned the students at the University of North Carolina that interest rates on federal student loans will double if Congress doesn't act by July 1." He then went on, mentioning one of Fluke's tweets: "Word for word, what Sandra Fluke just...
  • Obama Lies to Students

    04/25/2012 11:55:15 AM PDT · by yoe · 6 replies
    Power Line ^ | April 24, 2012 | John Hinderaker
    Barack Obama is on a pandering tour of college campuses, trying to generate enthusiasm for his re-election campaign by warning that interest rates on student loans will rise if Congress doesn’t act by July. That is true; the Democratic Congress wrote the legislation that way, and Obama signed it. Coincidentally, no doubt, Obama’s campus appearances will all be in swing states like North Carolina, where he spoke today. Whether it is a good idea to subsidize the higher education bubble is highly debatable, but it is not a point of differentiation between Obama and Mitt Romney, who also favors extending...
  • Student debt: How big a risk does it pose to the economy?

    04/25/2012 6:04:41 AM PDT · by SeekAndFind · 17 replies
    CS Monitor ^ | 04/25/2012 | Mark Trumbull
    Surging student-loan debt has become a burden on the US economy – and President Obama is warning of a "tremendous blow" that could occur for millions of students in the form of an interest-rate hike in July. So how big is this issue? Does student debt represent a brewing crisis? Student loans pose a significant financial challenge for America, some economists say, but in a way that's different from the big buildup in mortgage debt that ended in a housing bust and deep recession. "It's not a bubble that will burst," says Chris Christopher, an economist at IHS Global Insight...
  • Obama: College Debt ‘Not Something I Read About in Briefing Book’

    04/24/2012 10:53:32 PM PDT · by Steelfish · 33 replies
    ABCNews ^ | April 24, 2012
    By Devin Dwyer Apr 24, 2012 Obama: College Debt ‘Not Something I Read About in Briefing Book’ BOULDER, Colo. — President Obama tonight cast himself as a champion of an affordable college education and drew a veiled contrast with Republican rival Mitt Romney in a speech before an electrified crowd at the University of Colorado. Calling a college education the “best tool you have to achieve the American promise,” Obama made the case to the crowd of 10,800 students that he best understands the challenges of earning a degree. We “didn’t come from well-to-do backgrounds. We didn’t have famous families,”...
  • Student Loans: A Long Journey Of Confusion That Ends In Owe, Owe, Owe

    04/24/2012 10:56:41 PM PDT · by Altariel · 21 replies
    Forbes ^ | April 24, 2012 | Sheryl Nance-Nash
    Student loans are one of life’s biggest financial entanglements, yet they are sorely misunderstood. Many students couldn’t tell you if they have private or public loans. All they know is that they owe, owe, owe. *** But not everyone will be effected by the increase. “Only undergraduate loans will go from 3.4 to 6.8 percent. Graduate loans stay at 6.8 percent,” says Mark Kantrowitz, publisher of FinAid.org. “There is a lot of confusion about student loans. I read in the paper where someone with $8,000 in student loans is saying that they won’t be able to afford the loans when...
  • Obama stresses own struggle with loans on youth-focused trip

    04/24/2012 8:48:41 PM PDT · by Oldeconomybuyer · 21 replies
    Chicago Tribune ^ | April 24, 2012
    (Reuters) - Describing his own struggle to pay off college debt and taking another dig at his likely White House rival's wealth, President Barack Obama sought on Tuesday to expand his popularity among young voters with a call to make education more affordable. During a multi-state trip to highlight rising education costs, a key theme of his re-election campaign, Obama said he knew firsthand how paying for university could hurt families and ding the economy.
  • Obama: I only paid off my student loans eight years ago

    04/24/2012 1:12:29 PM PDT · by SeekAndFind · 88 replies
    ABC News ^ | 04/24/2012 | Olivier Knox
    President Barack Obama, courting young voters crucial to his reelection, told a rowdy college-age crowd at the University of North Carolina at Chapel Hill on Tuesday that he knows first-hand about the burden of student loans because he only managed to pay his back a scant eight years ago. "Michelle and I, we've been in your shoes," Obama, who turns 51 in August, told a cheering, capacity crowd of 8,000 at Carmichael Arena. "Check this out, all right. I'm the president of the United States. We only finished paying off our student loans off about eight years ago. That wasn't...
  • As senator, Obama missed votes on student loan bill he now wants to extend

    04/24/2012 10:48:56 AM PDT · by Free ThinkerNY · 7 replies
    Politico ^ | April 23, 2012 | BYRON TAU
    In 2007, then-Illinois Sen. Barack Obama missed two votes on the student loan interest bill that he now wants Congress to extend. Obama twice skipped the Senate vote on the College Cost Reduction and Access Act when the bill came to the Senate floor first in July and again in September of 2007, according to public records. The bill, introduced by Rep. George Miller (D-Calif.) and signed into law by President George W. Bush, first cleared the Senate in July on a 78 to 18 vote, with Obama as one of only four senators to abstain. Obama did not cast...
  • Obama Asks Students for 'Amen'

    04/24/2012 11:02:07 AM PDT · by Nachum · 57 replies
    Weekly Standard ^ | 4/24/12 | Daniel Halper
    At an event at the University of North Carolina, Chapel Hill, President Barack Obama tried to rouse the crowd by asking for an "amen." "The fact is that since most of you were born, tuition and fees at America's colleges have more than doubled," Obama said. "And that forces students like to take out a lot more loans, there are fewer grants, you rack up more debt. Can I get an 'amen'?" The students responded: "Amen!" Obama continued: “The average student who borrows to pay for college now graduates with about $25,000 in student loan debt—that’s the average, some are...
  • 'Loophole' Closing Eyed to Fund Student Loan Policy [More Taxes For Subchapter S Corp Owners]

    04/23/2012 7:09:30 PM PDT · by Steelfish · 6 replies
    Wall St. J ^ | April 23, 2012 | CAROL E. LEE AND JOHN D. MCKINNON
    'Loophole' Closing Eyed to Fund Student Loan Policy BY CAROL E. LEE AND JOHN D. MCKINNON [Subscriber Content Preview] The White House and Senate Democrats are looking at ending a tax provision benefiting some small business owners to pay for a year-long extension of a freeze in student loan interest rates, which are scheduled to double from 3.4% to 6.8% this summer, people familiar with the discussions said. The measure would change a feature of tax law that critics say has allowed many owners of small businesses—particularly those known as Subchapter S corporations—to escape employment taxes on much of their...
  • Video: Romney sides with Obama in supporting extension of low student-loan rates

    04/24/2012 4:25:04 AM PDT · by SeekAndFind · 10 replies
    Hotair ^ | 04/24/2012 | AllahPundit
    Remember that NYT piece last week wondering about friction between Romney and the House GOP as as he tacks towards the center for the general election while they try to hold the line on the right?Here's the first wisp of smoke. "I fully support the effort to extend the low interest rate on student loans,” Romney said at a joint news conference with Florida Senator Marco Rubio. “There was some concern that that would expire halfway through the year, and I support extending the temporary relief on interest rates for students as a result of student loans, obviously, in part...
  • Student loan debt a growing threat to the economy

    04/21/2012 7:00:52 AM PDT · by SeekAndFind · 43 replies
    Chicago Tribune ^ | 04/15/2012 | Becky Yerak
    Move over, mortgages. Get out of the way, Greece. Another economic doomsday scenario is emerging. Student loan debt has reached about $870 billion, exceeding credit cards and auto loans, and balances are expected to continue climbing, the Federal Reserve Bank of New York said last month. In February, the National Association of Consumer Bankruptcy Attorneys referred to a "student loan 'debt bomb'" and wondered if it was shaping up to become "America's next mortgage-style economic crisis." Such a burden could crimp an already weak economy. "Student debt poses a large and growing threat to the stability of our economy," Illinois...
  • Elizabeth Warren: 'Students Need To Get Out from under the Burden of Student Loans'

    04/20/2012 1:24:50 PM PDT · by pabianice · 34 replies
    Friend, I started my day off with the 100th anniversary of Fenway Park. I was on the field, just down the first base line, with the folks on MSNBC's news show, "Morning Joe." Early on, Joe Scarborough asked me, "What's the thing you hear about most on the campaign trail" that [the news isn't'] covering?" [snipped video] ...I told Joe: the biggest issue that nobody is talking about is the cost of education and student loans, whether for college or technical school or other training needed to get a good job. ["Biggest issue? Huh?] Every day out on the campaign...
  • Obama, courting youth vote, to launch student-loan push

    04/20/2012 10:35:21 AM PDT · by Free ThinkerNY · 19 replies
    Reuters ^ | April 20, 2012 | Matt Spetalnick
    WASHINGTON (Reuters) - President Barack Obama will use a tour of three election battleground states next week to push Congress to prevent the doubling of interest rates on federal student loans -- an effort aimed at re-energizing his support among younger voters. Obama will speak at universities in North Carolina, Colorado and Iowa, the White House said on Friday. All three states are considered critical to his re-election chances, and the youth vote is one of his key constituencies. The two-day trip is part of a campaign by the Obama administration to get Congress to extend low interest rates on...
  • Democrats spring student-loan trap on GOP

    04/20/2012 11:01:18 AM PDT · by mandaladon · 33 replies
    The Daily Caller ^ | 20 Apr 2012 | Neil Munro
    The Democratic Party is springing a five-year-old political trap that may help President Barack Obama win support from middle-class parents and young voters. Their trap is the scheduled election-year doubling of interest-rates on government-provided student loans. The pre-planned doubling forces GOP politicians to either approve a Democratic measure that extends the low interest rates or else face protest from millions of students and their middle-class parents. Many GOP legislators dislike the subsidized interest rate because it inflates education costs while delivering a disguised subsidy to the Democrats’ political allies in the education industry. The trap “kinda makes sense,” said Mark...
  • Millennials Turn Rightward?

    04/11/2012 5:14:54 PM PDT · by neverdem · 30 replies
    National Review Online ^ | April 10, 2012 | Nathaniel Botwinick
    The “luster of Obama’s promises has worn off” and “hope” and “change” no longer drive young voters. In 2008, the “millennial” generation, comprising those between the ages of 18 to 29, voted for President Obama by a margin of 2–1. In 2004, President Bush lost this demographic by nine points to John Kerry. But, for the first time in over a decade, it appears the trend has reversed — young Americans are now reconsidering their allegiances to the Democratic party. Why have the millennials, the group that Obama has described as “the foundation of [his] campaign,” abandoned him? To...
  • Recovery threatened by runaway student loan debt [Newt: "Student Loans a Ponzi Scheme"]

    04/03/2012 1:58:28 AM PDT · by Cincinatus' Wife · 31 replies
    The Florida Times Union - Jacksonville ^ | March 3, 2012 | Tom Raum
    Surging above $1 trillion, U.S. student loan debt has surpassed credit card and auto-loan debt. This debt explosion jeopardizes the fragile recovery, increases the burden on taxpayers and possibly sets the stage for a new economic crisis. ............. Newt Gingrich calls student loans a "Ponzi scheme" under which students spend the borrowed money now but will "have to pay off the national debt" later in life as taxpayers.... Lifting student debt higher and higher is the escalating cost of attending schools, with tuition increasing far faster than the rate of inflation. And enrollment has been rising for years, a trend...
  • Senior citizens continue to bear burden of student loans (Many are co-signers with their children)

    04/02/2012 1:07:59 PM PDT · by SeekAndFind · 17 replies
    Washington Post ^ | 04/02/2012 | By Ylan Q. Mui
    The burden of paying for college is wreaking havoc on the finances of an unexpected demographic: senior citizens. New research from the Federal Reserve Bank of New York shows that Americans 60 and older still owe about $36 billion in student loans, providing a rare window into the dynamics of student debt. More than 10 percent of those loans are delinquent. As a result, consumer advocates say, it is not uncommon for Social Security checks to be garnished or for debt collectors to harass borrowers in their 80s over student loans that are decades old. That even seniors remain saddled...
  • The College Loan Defaults Are Coming--Here's What to Do

    03/31/2012 6:07:50 PM PDT · by SeekAndFind · 12 replies
    Minding the Campus ^ | 03/31/2012 | Jackson Toby
    No modern-day Paul Revere is taking a midnight ride to warn about this, but the defaults are coming. Many are already here. They are coming from student loans given to the wrong students for the wrong reasons. The portfolio of federally guaranteed student loans passed the one trillion dollar mark in early 2012, and it continues to grow. The portfolio consists not only of loans for students from low-income families currently in college but also of hundreds of millions of dollars of education loans taken out by students who graduated from college or quit before graduating that have not been...
  • Student Loans on Rise -- for Kindergarten

    03/29/2012 10:28:39 AM PDT · by SeekAndFind · 3 replies
    Smart Money ^ | 03/29/2012 | By ANNAMARIA ANDRIOTIS
    Instead of saving up for their sons' college education, Bill Dunham and his wife are taking out loans for high school. Their eldest son will begin ninth grade at a school in Boston where annual tuition runs around $10,000 -- and they already pay $5,000 a year for their younger child. A project manager for a mechanical construction company, Dunham says the schools referred him to lenders who specialize in pre-college education loans. He's taking a loan to cover his son's full high school tuition, which he plans to repay over two years. "If we had the money, we'd pay...