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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 MrVicchio View Post
    Yes, banks kick you out for not paying your debt, car loan payment failures get your car repo'd, failure to pay your cable bill get's it turned off and the same with electricity.

    Sorry life took a bad turn for you, but that's life, **** happens. DEAL WITH IT.
    Listen, bub, I wouldn't BE in this position if certain people hadn't committed certain crimes, both in washington, and on wallstreet. That's my point. Some shady men made some illegal, shady deals, both representatives, and private business, and THAT is what got all of this started. I was doing JUST fine before the crash. So yeah, when someone comes along and STEALS your lively hood, you have recourse. But if someone comes along and steals MILLIONS of people's lively hood, we have NO recourse. Get it? In that respect, again, I'm not trying to apply legal FORCE to anyone, I just want a tiny ****ing god damn SHRED of common ****ing since to permiate the thick ****ing skulls of some of the dumb bastards around here.

    Of COURSE, I'm not referring to YOU.
    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 conservativeguy View Post
    If those students are too stupid to realize borrowing $50k to $100k to get a degree that pays them a few dollars more than a skilled trait position, and we are relying on them to carry the future economy, we are screwed as a Nation.
    The cost of college is going up and up... so sooner or later you're going to be calling everybody stupid for going to college. ****, a college professor is a PHD and that's potentially 100,000 plus in student loan debt for a job that could pay you from 50,000 to 100,000 a year.

    Damn college profs... .. they are stupid for wasting that money. It's not like we need them or anything.

    Most young doctors and PHDs working in hospitals and ERs are loaded down with debt. The government trying to find out a way to get people through med school with less debt could potentially mean more doctors in our country.

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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by KevinKohler View Post
    Because, for some of these loans, those debts will NEVER be filled at 10% income for some of the owners of those loans. You got people that spent 160K to go to an ivy league school, in order to get, say, a degree in english. Guess what? Demand for teachers is low right now. So they are working at Starbucks. Making 11 bucks an hour. For, let's say, 27 hours a week. You do the math.
    Yes but, without the cap on payments, won't those Starbucks employees end up bankrupt and unable to pay anything altogether?

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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by Kandahar View Post
    I just ran the numbers for myself...and as someone who is currently $150K in debt from college and b-school, it wouldn't help me at all to take advantage of this option to lower my monthly payments. In fact, it would cost over $100K (I'd eventually get $80K of my principle forgiven, but I'd pay $180K in interest). If this plan doesn't even help someone with as much student debt as me, I'm not so sure it will help anyone. Not that this applies to me anyway...as I understand it this plan will only apply to new student loans.

    I like the idea of the government taking action on student debt, as it is indeed one cause of the massive debt overhang facing our economy. But this particular executive order doesn't really seem to do that much.
    The principle on my debt is over 60,000 and the interest makes it nearly 100,000... and I have a masters in accounting. ****. I could own a house for this amount of debt. I am in my 20s, not married, no kids, and being in this situation sucks, especially with the ****ty job market. I am not going to be able to afford buying a home or even having kids for years. I really do think the cost of our education is unbelievably high and ridiculous, and it should be addressed. I'd love to see the political discussion shift to this issue for once.

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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by Boring Bob View Post
    Yes but, without the cap on payments, won't those Starbucks employees end up bankrupt and unable to pay anything altogether?
    Potentially, yes. I think these sorts of things need to be dealt with on an individual basis, not with such a broad brush. When you whip out the big brush, is when you run the risk of having your policy get taken advantage of.
    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 SheWolf View Post
    The cost of college is going up and up... so sooner or later you're going to be calling everybody stupid for going to college. ****, a college professor is a PHD and that's potentially 100,000 plus in student loan debt for a job that could pay you from 50,000 to 100,000 a year.

    Damn college profs... .. they are stupid for wasting that money. It's not like we need them or anything.

    Most young doctors and PHDs working in hospitals and ERs are loaded down with debt. The government trying to find out a way to get people through med school with less debt could potentially mean more doctors in our country.
    I worked my way through college and came out with a BSBA and a MBA and zero debt. I had to work two jobs during the summers and a part time job during the school year. The argument everyone needs to borrow a ton of money to go to schools they can't afford is complete BS. People should attend the schools they or their families can afford. I guess I am very old school since I have always lived within my means.
    I love the smell of burning moonbat in the morning.

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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by muciti View Post
    I have like very few of Obama's plans, but I do like this one.
    Why is it that people can't evolve or adapt past being short sighted and willingly ignorant of the facts?

    You like the SOUND of the plan. Who wouldn't like the sound of a plan that makes it easier for people to be educated? What you are leaving out of your poorly formed opinion is HOW DO WE IMPLEMENT A PLAN LIKE THIS?

    Is it not completely obvious that Obama is trying to buy votes with the only skill he has...Talking? All of thes ideas sound great in theory but they just don't work. We don't need anymore false hope, we need the change he promised and has failed to deliver on entirely.
    "A dictatorship would be a heck of a lot easier, there's no question about it" - George W. Bush
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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by Eighty Deuce View Post
    Like anything, you have to look at options before you, and then plot the course. If you can't afford the full $250K, then you can reduce that with 2 years of Community COllege, many of which have curriculum than then transfer with full credit to the larger state universities. It also keeps you from being someone who goes to college for a year or two, who has no business in college, blowing $100-125K figuring that out. There are other more prudent ways as well.

    The solution is not to do as Obama has. Which is pure politics and vote buying. It is 100% the wrong solution.

    Anyhow, I wish you well moving forward. My choice many moons ago was the military, which ended up being a 7 year stint in some fine units. And then I went to college, as a 25 year-old, amongst 18 year olds, on the GI Bill. Fox in the hen house for sure And I went from having been a mediocre HS student to a straight A student at a very good College in Virginia. Had I attempted college right out of HS, I would have not done as well.

    What Obama has done is all wrong. He has been such a mistake.
    Many are doing that, but will still end up with too much debt. More debt than they can repay.

    What I gave you was a hypothethical, as I said for arguments sake. I'm 53. But I see students every day, and I pay attention. The math simply doesn't add up. And just like the housing crisis, we can bury our heads in the sand, throw around blame mindlessly, or we can start trying to figure out a reasonable and pratical solution. I'm betting we do nothing and then fain being stunned once it happens, because NO ONE saw it coming. Then of course we can throw around some more mindless blaming.

    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 SheWolf View Post
    The principle on my debt is over 60,000 and the interest makes it nearly 100,000... and I have a masters in accounting. ****. I could own a house for this amount of debt. I am in my 20s, not married, no kids, and being in this situation sucks, especially with the ****ty job market. I am not going to be able to afford buying a home or even having kids for years. I really do think the cost of our education is unbelievably high and ridiculous, and it should be addressed. I'd love to see the political discussion shift to this issue for once.
    The point you raise about the cost of higher ed is a good one and should be discussed. That being said there seems to be a lot of choices someone has that greatly impacts the cost of college. In some states if you are able to enter as an honors student then tuition is often free or greatly reduced. Next most of not all states have two year colleges where the tuition is less, they are closer to home so you do not have to live on campus and if you are successful then you can transfer the credits to the 4 year college. Most schools have scholarships both for academics and hardship, not sure why you did not qualify.

    Our best schools usually have "need blind admissions". Thus you get in and then if it found you can't afford the place they work on financial assistance. I feel more sorry for someone like me. We are in the middle class, so our child received no aid. The school he picked is highly ranked but the downside is they did not offer any scholarship dollars.

    Last as an accountant in his/her 20's so let's say 5 years out of school. If you at a big 4 firm you should be making about 50K or so. So yes it sucks to have a loan, but don't you feel a bit queasy about reneging on a pledge you made that allowed you to be an accountant.

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    Re: Obama to Announce Student Loan Relief Plan

    Quote Originally Posted by MrVicchio View Post
    Yes, banks kick you out for not paying your debt, car loan payment failures get your car repo'd, failure to pay your cable bill get's it turned off and the same with electricity.

    Sorry life took a bad turn for you, but that's life, **** happens. DEAL WITH IT.
    sounds like a winning campaign slogan for the republicans. you guys should totally run with that. it will draw in tons* of independents.





















































































    *1% or so

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