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...
  • The First Crack: $270 Billion In Student Loans Are At Least 30 Days Delinquent

    03/25/2012 3:36:18 PM PDT · by SatinDoll · 29 replies
    The Zero Hedge ^ | 03/25/2012 | Tyler Durden
    Back in late 2006 and early 2007 a few (soon to be very rich) people were warning anyone who cared to listen, about what cracks in the subprime facade meant for the housing sector and the credit bubble in general. They were largely ignored as none other than the Fed chairman promised that all is fine (see here). A few months later New Century collapsed and the rest is history: tens of trillions later we are still picking up the pieces and housing continues to collapse. Yet one bubble which the Federal Government managed to blow in the meantime to...
  • Student Loan Debt: $1 Trillion and Counting

    03/24/2012 6:55:44 PM PDT · by SeekAndFind · 25 replies · 2+ views
    Forbes ^ | 03/24/2012 | Sheryl Nance-Nash
    Whatever happened to the American dream of going to college, landing a great job and living happily ever after? College is supposed to be about getting off to a great start, but it’s a financial noose that threatens to kill our young and everybody else too. The U.S. has the dubious distinction of now having more than $1 trillion in outstanding student loan debt. The crisis has the full attention of the Consumer Financial Protection Bureau which in a recent blog , presented its sobering findings. “Unlike other consumer credit products, student debt keeps growing at a steady clip. Students...
  • Saddled with college debt

    03/17/2012 8:57:01 AM PDT · by Sub-Driver · 95 replies · 1+ views
    Saddled with college debt By Melissa M. Horton, Published: March 16 “You can go to any college you want.” “You won’t have to pay for college.” “You’ll have lots of scholarships and financial aid.” These are just a few of the things my parents said throughout my childhood. I am a second-generation U.S.-born Latina. Growing up in the suburbs of Fort Worth, I was a straight-A student in Advanced Placement classes, with many civic activities on my resume. At 17, I never could have dreamed that my parents’ promises were lies. A decade-plus later, I, like many millennials, have more...
  • Our "Let's Pretend" Economy: Let's Pretend Student Loans Are About Education

    03/14/2012 7:45:05 AM PDT · by SeekAndFind · 1 replies
    Of Two Minds ^ | 03/12/2012 | Charles Hugh Smith
    Let's pretend student loans aren't just a stupendous and highly profitable scam being run on the youth of America. Of course pretending doesn't make it so.We have a "let's pretend" economy: let's pretend the unemployment rate actually reflects the number of people with full-time jobs and the number of people seeking jobs, let's pretend the Federal government borrowing 10% of the GDP every year is sustainable without any consequences, let's pretend the stock market actually reflects the economy rather than Federal Reserve monetary intervention, and so on. We also have a "let's pretend" education/student-loan game running: let's pretend college is...
  • Report on college loan delinquency rate raises alarms

    03/06/2012 6:20:37 AM PST · by Oldeconomybuyer · 21 replies
    Los Angeles Timies ^ | March 65 2012 | By Don Lee
    Washington - Some experts have called the nation's soaring college debt load a "ticking time bomb" — a looming crisis threatening young adults, their families and the broader economy. A new report raises even more alarms: It's likely that as many as 1 in 4 borrowers was carrying a past-due student loan balance in the third quarter, the Federal Reserve Bank of New York said Monday. W. Norton Grubb, a professor at UC Berkeley's School of Education, is worried that rising debt levels are forcing some students to drop out. Only 40% to 50% of those enrolling at universities such...
  • Name The Bubble (Guessing Contest)

    02/27/2012 11:29:52 AM PST · by RightGeek · 14 replies
    Zero Hedge ^ | 2/27/2012 | Tyler Durden
    As the title suggests, please name the latest bubble: (see picture - answer below)
  • New Rule Excludes Religious Workers from Benefits Offered to Others (PSLF)

    02/16/2012 11:56:05 PM PST · by Salvation · 27 replies · 1+ views
    Archdiocese of Washington ^ | February 16, 2012 | Msgr. Charles Pope
    New Rule Excludes Religious Workers from Benefits Offered to Others. Another Example of Hostile Secularism in the Federal GovernmentBy: Msgr. Charles Pope As the recent battle for a proper understanding of religious liberty shows, our culture and many of our government leaders and organizations are becoming increasingly secularized and hostile to religion and religious practice.Yet another example of this is a recent rule change in the Public Service Loan Forgiveness (PSLF). According to this program, a person who has been engaged in Public Service employment for ten years, can have the remainder of their Student Loan form the government...
  • Obama administration deletes religious service for student loan forgiveness

    02/16/2012 9:30:41 AM PST · by Nachum · 9 replies
    Human Events ^ | 2/15/12 | Audrey Hudson
    The federal government will no longer forgive student loans in exchange for public service if that service is related to religion, according to a new Education Department rule from the Obama administration. The Public Service Loan Forgiveness (PSLF) program announced the change Jan. 31 with little fanfare, while most of Washington was focused on the new ObamaCare rule requiring religious organizations to provide free birth control through health insurance. “Generally, the type or nature of employment with the organization does not matter for PSLF purposes,” reads the new language. “However, if you work for a nonprofit organization, your employment will...
  • I Owe $130,000 in Student Loans

    02/10/2012 9:10:15 AM PST · by Sub-Driver · 189 replies · 1+ views
    I Owe $130,000 in Student Loans Jennifer Sammartino has a great education and a mountain of student loan debt By Gemma DiCasimirro and Alexis Leonard | Thursday, Feb 9, 2012 | Updated 5:43 PM EST When Jennifer Sammartino needed help paying for college, she, like many students, took out federal and private loans. Now she’s faced with over $130,000 in student loan debt. After Sammartino graduated from La Salle University with a Bachelor's degree in Psychology. she had no luck getting a job. She then made the decision to go back to school, hoping that a Master’s degree would bring...
  • Student loan debt: The next financial disaster?

    02/09/2012 12:29:04 PM PST · by Oldeconomybuyer · 47 replies
    CBS News ^ | February 9, 2012 | By Lynn O'Shaughnessy
    (MoneyWatch) Student loan debt is pushing a growing number of Americans into bankruptcy and an organization of bankruptcy lawyers predicted this week that the college debt problem could become as big a catastrophe as the home mortgage crisis. "Take it from those of us on the frontlines of economic distress in America, this could very well be the next debt bomb for the U.S. economy," warned William E. Brewer Jr., president of the National Association of Consumer Bankruptcy Attorneys. The association just released a survey of 860 bankruptcy attorneys that revealed some disturbing trends. Here are some of the most...
  • Valerie Jarrett Hails Lower Black Unemployment, Says Job Is Unfinished

    02/07/2012 4:55:52 PM PST · by Oldeconomybuyer · 18 replies
    BET ^ | February 7, 2012 | By Jonathan P. Hicks
    One of President Obama's closest advisors said that the administration is heartened by the decline in Black unemployment but added that much more needs to be done to solve what has been a longstanding problem in communities of color. In an interview with BET.com, Valerie Jarrett said the administration is undertaking a wide and varied approach to lowering the high unemployment rate in the African-American community. Jarrett said that the Obama administration remained highly committed to a host of initiatives in areas ranging from education to tax policy in an effort to lower Black unemployment further. “We need to make...
  • Paying Off Student Debt: Can You Find a Financial Balance?

    01/11/2012 11:34:11 AM PST · by Kaslin · 12 replies
    Townhall.com ^ | January 11, 2012 | Carrie Schwab Pomerantz
    Dear Carrie: I am relatively new to investing. I have set money aside and plan to take an aggressive approach to paying off my student loans. Can you offer an ideal action plan for both investing and lowering student debt? --A Reader Dear Reader: With money set aside and wanting to put a plan in action, it sounds like you're already headed in the right direction. Now it's time to get down to specifics so that, ideally, you can accomplish both your investing and debt lowering goals -- and then some. Student debt can be daunting, and you're right to...
  • Student Loans Are Drowning Opportunity

    01/06/2012 1:00:22 PM PST · by gabriellah · 7 replies
    TheCollegeConservative ^ | 01/06/2012 | Mark Mayberry
    Student loans are an important aid for those attending college, and many students depend on them in order to attain higher education. Because of this, a startling trend has emerged. In September 2011, the Department of Education released a statement expressing the default rates for student loans for fiscal year 2009: “The U.S. Department of Education today released the official FY 2009 national student loan cohort default rate, which has risen to 8.8 percent, up from 7.0 percent in fiscal year 2008. The cohort default rates increased for all sectors: from 6.0 percent to 7.2 percent for public institutions, from...
  • Student Debt Turning Public Against Universities

    As Occupy Wall Street and its imitators disrupt cities across America, one of their complaints is the debt incurred while attending universities.
  • Don't pay your college debt: NYU professor urges boycott of student loans

    12/07/2011 1:03:38 PM PST · by presidio9 · 44 replies · 1+ views
    New York Daily News ^ | Wednesday, December 7, 2011 | Andrew Ross
    As part of the recent protest against CUNY's latest round of tuition hikes, a student publicly burned a debt collection letter from Sallie Mae. Burning draft cards was a ritual of the 1960's anti-war movement. Will debt refusal become the defining act of the current student generation? Some of us think so. The newly launched Occupy Student Debt Campaign (occupystudentdebtcampaign.org) offers debtors an alternative to suffering the agony and humiliation of default in personal isolation. If they pledge to withhold loan payments (after the numbers of fellow pledges grow to 1 million), then they will be participating in a debt...
  • Glenn Reynolds: Let’s put colleges on the hook for loans that their students can’t repay

    12/06/2011 7:27:48 AM PST · by SeekAndFind · 27 replies
    Hotair ^ | 12/05/2011 | Allahpundit
    How do you solve the problem of young adults earning worthless degrees and a truckload of debt? Three ways. One: The Chinese way, which, while characteristically direct, is probably too authoritarian for most Americans’ tastes. Two: End federal student loans. Let kids take their chances with private lenders, who’ll need assurances up front before they lay out the cash that they’ll get a return on their investment after graduation. This idea would, I assume, die a grisly death after the first round of “all Jimmy/Sally wanted to do was go to State but he/she couldn’t get the money” stories. Three:...
  • Occupy Wall Street's Latest Plan: Refuse to Repay Student Loan Debt

    11/22/2011 2:49:48 PM PST · by 2ndDivisionVet · 43 replies
    The New American ^ | November 22, 2011 | Brian Koenig
    Occupy Wall Street’s latest grievance centers on student loan programs and higher education reform, and the group’s most recent campaign involves a movement-wide boycott on student loan debt repayment. Early Monday afternoon, a crowd of faculty and student organizers assembled at the southeast corner of New York City's Zuccotti Park to announce Occupy Student Debt, a national initiative directed at recruiting student loan borrowers and requesting that they willfully default on their loan payments. The campaign consists of three pledges: 1. A refusal to make loan payments. This pledge will take effect after a million debtors have signed on to...
  • 'Occupy Student Debt' emerges in US

    11/22/2011 3:53:24 AM PST · by Cardhu · 119 replies
    Press TV ^ | November 22nd 2011 | Staff
    A number of student organizers in the US have unveiled what they call an 'Occupy Student Debt' campaign, urging borrowers across the country to default on their college loans. The campaign was made public Monday afternoon in New York's Zuccotti Park, where the national Occupy Wall Street (OWS) movement emerged, the Huffington Post reported. “Since the first days of the Occupy movement, the agony of student debt has been a constant refrain,” said Andrew Ross, a professor at New York University and an active OWS member, while addressing a crowd in the park “We've heard the harrowing personal testimony...
  • Federal Student Loans: Borrowing Trouble for Students and Taxpayers (Why tuition is going up)

    11/01/2011 12:10:27 PM PDT · by SeekAndFind · 8 replies
    The New American ^ | 11/01/2011 | Michael Tennant
    When Rep. Ron Paul (R-Texas) released his economic plan, which calls for eliminating the U.S. Department of Education, the howls of outrage from the media were predictable. Paul was accused of wanting to end the federal student loan program immediately and, therefore, of being anti-education. Paul responded to his critics with a cogent op-ed in USA Today in which he explained that he had merely proposed transferring the student loan program to another federal agency and has no intention of repealing the program in the short term. However, he added that, in his opinion, the program ought to be retired...
  • Should College Loans Be Forgiven? This Dinosaur Says No!

    10/28/2011 9:41:28 AM PDT · by stillafreemind · 25 replies
    Yahoo/AC ^ | Oct. 28th, 2011 | Sherry Tomfeld
    Maybe the problem is that kids are not taught personal pride and responsibility. Nowhere does the constitution say that your college loan must be paid for by the government. The pursuit of happiness means that you have the opportunity to succeed, not a guarantee that you will. The country and the world are in upheaval. You think if you make noise and cause havoc you can get your way. Good luck with that, you are adults now, take a shot at being one.
  • Rangel: "Gridlock" necessitates that Obama use executive powers

    10/28/2011 7:08:03 AM PDT · by martosko · 14 replies
    The Daily Caller ^ | 10/28/2011 | Nicholas Ballasy
    New York Democratic Rep. Charlie Rangel told The Daily Caller that “gridlock” in Congress has made it “necessary” for President Barack Obama to unilaterally implement mortgage refinancing and student loan programs without congressional authorization. TheDC asked Rangel if he thinks there are other areas where Obama should bypass Congress. “I do, but I don’t want it to be interpreted that I welcome the executive branch using their powers instead of having the legislative branch do it. It’s necessary now because it’s a gridlock between the president and the United States. I hope that is just so very, very unusual,” Rangel...
  • Obama's Illusory Student Loan Scheme

    10/28/2011 6:30:22 AM PDT · by Kaslin · 10 replies
    Townhall.com ^ | October 28, 2011 | David Limbaugh
    With his latest pseudo-compassionate expansion of the student loan program, President Obama reminds us why we ask whether he is simply unable to learn from history or he is indifferent to government waste incurred in pursuit of "good intentions." Back when Obama was trolling for illusory savings to manipulate Congressional Budget Office scorekeepers into decreeing that Obamacare would be revenue-neutral, he proposed the ingenious scheme whereby the federal government would subsume 100 percent of the student loan industry and eliminate evil private-sector profits going to "middlemen." The plan was a smorgasbord for big-government enthusiasts because it envisioned whacking private business,...
  • Bachmann criticizes Obama's student loan plan

    10/27/2011 7:49:37 PM PDT · by South40 · 12 replies
    AP (Yahoo) ^ | 10/27/2011 | BRIAN BAKST
    ST. PAUL, Minn. (AP) — Republican presidential candidates Michele Bachmann criticized a directive by President Barack Obama to ease student loan debt as an "abuse of power" that will give people incentive to dodge debt. The candidates reacted Thursday to a decision Obama announced a day earlier to cap required payments for some college loan borrowers at a lower percentage of their income and forgive payments for others after 20 years. He used executive authority to accelerate a law that wasn't supposed to go into effect until 2014. "I believe it is abuse of power from the executive to impose...
  • President Obama Announces Plan to Boost College Tuition Cost

    10/27/2011 10:04:36 AM PDT · by Veritas_et_libertas · 18 replies
    Business Insider ^ | Oct. 27, 2011 | Peter Schiff
    President Obama yesterday announced a plan that will ensure students are able to commit to higher levels of federally backed student loans. By limiting student obligations to repay, and by passing more of the repayment burden onto taxpayers, colleges and universities will be able to continue to raise tuitions at a rate that outpaces nearly every other cost center in the American economy. The move will come as a great relief to an education establishment increasingly concerned that students might no longer be able to afford skyrocketing tuition rates.
  • Class war: Obama offers cash-for-votes student loan policy

    10/27/2011 9:56:41 AM PDT · by martosko · 11 replies
    The Daily Caller ^ | 10/27/2011 | Neil Munro
    President Barack Obama’s new student loan policy will force working class Americans to pay the ballooning college costs of middle class Americans, and will also hinder needed reform of the bloated education sector, say critics. Obama is “shifting the burden of paying for college to all of those Americans who did not graduate from college — the waitresses, construction workers, mechanics — and that should infuriate the taxpayers who worked hard to pay off their loans, who decided to live a modest lifestyle to pay off their loans,” said Lindsey Burke, an analyst at the Heritage Foundation. Obama’s policy is...
  • Obama's Student-Loan Order Saves the Average Grad Less Than $10 a Month

    10/27/2011 9:27:46 AM PDT · by NoLibZone · 16 replies
    Atlantic Monthly ^ | Oct 27 2011 | Daniel Indiviglio
    The monthly impact of the president's new effort for most Americans paying off college debt will be between $4 and $8 Of the many long-term problems the U.S. economy faces, student loans are a big one. Education costs are rising very quickly and incomes aren't. As a result, students will have to borrow more and more money to obtain university degrees and will have a tougher time paying their loans. President Obama seeks to respond to this question with an executive order in the next part of his "We Can't Wait" unilateral stimulus effort. While the president's heart may be...
  • Obama Taps Taxpayers For Student Stimulus

    10/26/2011 6:23:41 PM PDT · by magellan · 32 replies · 1+ views
    Fox News ^ | October 26, 2011 | Chris Stirewalt
    In keeping with his new campaign theme of "we can't wait," President Obama today will roll out a plan to put more money in the pockets of some of the nation's 36 million student loan recipients. Take this example: If Suzy Creamcheese gets into George Washington University and borrows from the government the requisite $212,000 to obtain an undergraduate degree, her repayment schedule will be based on what she earns. If Suzy opts to heed the president’s call for public service, and takes a job as a city social worker earning $25,000, her payments would be limited to $1,411 a...
  • Is Student-Loan Forgiveness Obama's Next Crisis?

    10/26/2011 6:09:05 PM PDT · by Kaslin · 51 replies
    IBD Editorials ^ | October 26, 2011 | Editor
    Government: President Obama wants student loans to be more like student handouts. Too bad he hasn't learned one of the lessons of the 2008 mortgage crisis: Free money costs plenty. The global financial crisis has its roots in the U.S. government's politicization of mortgages. Washington decided that all those real-life versions of mean old bank president Mr. Potter from "It's a Wonderful Life" shouldn't just turn into big-hearted Jimmy Stewarts. No, they should practically become welfare officers, doling out money to people with bad credit ratings to buy homes, without requiring a down payment. And when this pyramid scheme collapsed,...
  • Obama unveils student debt-relief plan

    10/26/2011 11:50:48 AM PDT · by jazusamo · 34 replies
    The Washington Times ^ | October 26, 2011 | Ben Wolfgang
    Continuing his recent tack of bypassing Congress and enacting reforms “without them,” President Obama on Wednesday announced a package of student loan reforms designed to lower college graduates’ monthly payments, arguing his plan will redirect some of that borrowed money into the economy to promote job growth. Speaking to a friendly audience of college students in Denver, Mr. Obama said the changes “won’t cost taxpayers a dime but will save you money and will save you time,” and tied the ever-rising cost of education to the nation’s lagging economy. “Living with that kind of debt means making some pretty tough...
  • Obama tells students: 'I need your voices'

    10/26/2011 11:48:00 AM PDT · by Hunton Peck · 18 replies · 1+ views
    Associated Press ^ | Wednesday, October 26, 2011 1:58 PM EDT | JIM KUHNHENN
    <p>DENVER (AP) — President Barack Obama urged thousands of enthusiastic college students Wednesday to make their voices heard, telling a boisterous crowd in Denver, "Young people, I need you guys involved."</p> <p>"I need you active, I need you communicating to Congress, I need you to get the word out," Obama said at the University of Colorado, Denver. "Tweet `em. They're all tweeting all over the place, you tweet `em back."</p>