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Thread: Obama to Announce Student Loan Relief Plan

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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by Kandahar View Post
    Not everyone has a sugar mama to mooch off of for nine months.



    I like the qualifier that you have compassion right before you prove that that isn't the case. In any event, it's not really about compassion (although that aspect should not be overlooked). It's about the fact that our economy cannot truly start growing again until we do something about debt overhang. Remember that this isn't an ordinary recession, it's a fundamentally different animal because it involved a financial crisis caused by too much debt. And until we resolve that fundamental problem by helping people deleverage, economic growth will continue to be stagnant. Sure, we might get a brief spurt of economic growth followed by another dip into recession here and there, but on the whole the economy will not grow very much until people deleverage some of their debt.
    I did link the rules for the loans. Don't pretend to be an expert, which is why I linked the loans. Which one of us is assuming?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by KevinKohler View Post
    Most are part time, and most don't make enough to cover the cost of getting a masters, or doctorate. The ones you want to look at are administrators, and in the case of non state schools, the board memebers, shareholders, etc. As in any other business.
    Well, I think it is the professors. Those jobs would seem to be a competitive position. Obviously Harvard has a high tuition because it can pay for the best teachers. College professors are a capitalistic hiring system.
    I'm coming to see that no matter what law we regulate, be it the stand your ground act, there is never an objective morally right answer to any morale question; in fact, since there are multiple objectively right answers to every moral question that leaves us with a lot of grey area and a lot of black area (not in the racial since).
    -Jryan

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    Re: Obama to Announce Student Loan Relief Plan

    Let me ask this....if you take a loan out, from one lender, then that lender goes under, or sells your loan to someone else, and then to someone else, so on and so forth, without any consent from you...how am I supposed to be responsible for that? Maybe I knew the folks I took my loan OUT from, and knew that together, we would always manage to work out a way to make payments. And then, voila, it goes to someone I DON'T know, someone who ISN'T willing to negotiate, etc etc.


    That's the problem with student loans.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by theplaydrive View Post
    Not really. If you have a low-paying job and a family, it's difficult to pay them off.
    Poor choices are no excuse to disregard a contract. No one forced these people to take these loans.

    j-mac
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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by Dickieboy View Post
    But the Stafford Loan program is part of the 'William D. Ford Federal Direct Loan (Direct Loan) Program' in which 'students borrow directly from the U.S. Department of Education (the Department) at participating schools'. From the Federal Student Aid program:

    Repayment Plans—The Direct Loan Program offers several repayment plans that are designed to meet the different needs of individual borrowers. Generally, you’ll have 10 to 25 years to repay your loan, depending on the repayment plan that you choose.

    No mention of 'standard' or 'extended'.
    Which is what I said. 10-25 years. And then said if you've been paying for 25 years, what would you have left. Later he said Obama was considering 20 years. Which still means a lot would likely already been paid.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by Jryan View Post
    Well, I think it is the professors. Those jobs would seem to be a competitive position. Obviously Harvard has a high tuition because it can pay for the best teachers. College professors are a capitalistic hiring system.
    Those would be the 1% folks, though. Largely, college profs are part time, they do it as side work. Sure, at ivy league schools, that charge over 200K for 4 years, and 400K for a masters or more, can pay for a fulltime staff of profs, and handsomely, as well. The rest...can't, and don't.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

  7. #117
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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by KevinKohler View Post
    Let me ask this....if you take a loan out, from one lender, then that lender goes under, or sells your loan to someone else, and then to someone else, so on and so forth, without any consent from you...how am I supposed to be responsible for that? Maybe I knew the folks I took my loan OUT from, and knew that together, we would always manage to work out a way to make payments. And then, voila, it goes to someone I DON'T know, someone who ISN'T willing to negotiate, etc etc.


    That's the problem with student loans.
    The bottom line is that when you took the original contract out to receive the loan, the terms were clearly laid out in that contract. This doesn't change when the loan is sold. As long as you live up to what you said you would by signing it, then there is no problem.

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by KevinKohler View Post
    Let me ask this....if you take a loan out, from one lender, then that lender goes under, or sells your loan to someone else, and then to someone else, so on and so forth, without any consent from you...how am I supposed to be responsible for that? Maybe I knew the folks I took my loan OUT from, and knew that together, we would always manage to work out a way to make payments. And then, voila, it goes to someone I DON'T know, someone who ISN'T willing to negotiate, etc etc.


    That's the problem with student loans.
    That seems like a real issue. I mean when you go to take out a loan, you are looking at the bank's policies.
    I'm coming to see that no matter what law we regulate, be it the stand your ground act, there is never an objective morally right answer to any morale question; in fact, since there are multiple objectively right answers to every moral question that leaves us with a lot of grey area and a lot of black area (not in the racial since).
    -Jryan

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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by Dickieboy View Post
    I'm sorry...disregard the previous post. The link you furnished was not relevent to this discusion. Per the disclaimer at the bottom of the page 'Stafford Loan dot com is not a United States Government website or associated in any way with the William D. Ford Federal Direct Loan Program, the U.S. Department of Education or Federal Student Aid.' My oversight.

    Hence it is not affected by BHO's plan.
    That's where most the loans are, so specify the terms of the laons you're speaking of, what you think Obama is speaking of, and how many are likley to be more than 25 years. Maybe link something supporting that?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by j-mac View Post
    Poor choices are no excuse to disregard a contract. No one forced these people to take these loans.

    j-mac
    Going to college isn't a poor choice. This comment doesn't event make any sense. How do you know people have made poor choices?

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