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Obama to Announce Student Loan Relief Plan

Boo Radley said:
I agree with your father, but again, it's not all one way or the other. It's a matter of being realisitc, pragmatic. Burdening young people with ecessive debt (the only other option is not free), is foolish. And allowing this problem to grow and crash on all of us isn't smart either. It's about problem solving and not about either debt being oppressive or free.
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then do enlighten.

j-mac
 
conservativeguy said:
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.
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I worked while in college too. But because I have a medical condition, most of the money I earned went towards my medical care and my medicine. When I first started college, I was getting all grants and scholarships... no debt. Then the cost of education went up and up, and the amount of pell grants and state grants down. Believe me, if nothing changed from my freshmen year of college, I'd have no debt either. You are old school, times have changed. College is a lot more expensive and GWB didn't help students out much. He spent more money on foreign countries and wars than he did on helping his own people get an education.
 
washunut said:
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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I did qualify for a lot of pell grants and scholarships. It still wasn't enough to get to go to college for free. I believe my first two years of college were completely free, but I paid for the books and other supplies. I didn't go to an out of state college either.

I worked a part time job on the side, to pay for books, laptop, etc.

My first priority was my medicine, and my second was eating food... and my budget was tight as hell.
 
Kandahar said:
How long ago was this? I think it would be next to impossible to pull this off today.

Even the nearest state school to where I grew up in Ohio (Wright State University) charges $8K per year in tuition, and books are probably another $2K...and this is for a normal public school that isn't particularly highly ranked. No 18-year-old can possibly come up with that much money on his own by working unskilled jobs, especially if he's also paying for his own room and board.
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Of course prices will go up once the government gets more involved because money becomes less of a concern when it thought someone else is paying.. The same will happen with health care.
 
Grant said:
Of course prices will go up once the government gets more involved because money becomes less of a concern when it thought someone else is paying.. The same will happen with health care.
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So, why do nations with UHC spend less?
 
Krhazy said:
Why wouldn't it effectively put a cap on the amount students can get in loans? If loans are to be forgiven after 20 years at payments of 10% of income, you'd think that would eventually cause lenders to refuse to loan more than a certain amount (not sure what it would be, exactly, but should be estimatable).
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Not if those lenders are legally REQUIRED to approve people for those loans, ala the housing market problem.
 
ksu_aviator said:
Doesn't anyone work hard and pay cash any more?

I went to a 4 year school and paid for flight training all while working 2 jobs and paying for an apartment and car. Yes, it sucked. I had no life. I got up at 5:30 in the morning and spent the entire day working or going to classes and would drop dead around 11:30 at night. Only on every other Sunday did I have time to myself. But, I graduated with a 3.4 and zero debt. Yes, I could have had a better GPA and more fun if I had had a loan, but I had no debt.
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As an 18-20 year old highschool grad with zero higher ed, I can think of no legal way to make 30K a year...I think we can all agree that working those crappy 9 an hour burger flipping jobs ain't gonna cut it...
 
j-mac said:
Then maybe instead of trying to take a full course load every semester, the young person scales back. Sure that 4 year degree may take 6 years to complete, but still.

j-mac
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And by the time they graduate, all their knowledge is useless, due to an ever changing world.

I went to school full time, and when I started, digital photography was in it's infancy, and wasn't really taught. 3 months after I graduated, couldn't land even an assistant job without owning your own DSLR. Things change, and FAST, and the longer you spend at school, the farther behind you get left by those that CAN go fulltime.


Remember, college is about leveling the playing field, the means by which a lower class person can change his/her financial fate.
 
Boo Radley said:
So, why do nations with UHC spend less?
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What do you think? Have you really given this any thought at all?

They spend less because the patient care is much poorer.

Do you really expect the first class service Americans have become accustomed to at cut rate prices? Does that make any sense to you at all?

Other countries who have free enterprise medical systems, something Americans have abandoned in several areas. are already gearing up for first class Medical Tourism.
 
KevinKohler said:
And by the time they graduate, all their knowledge is useless, due to an ever changing world.

I went to school full time, and when I started, digital photography was in it's infancy, and wasn't really taught. 3 months after I graduated, couldn't land even an assistant job without owning your own DSLR. Things change, and FAST, and the longer you spend at school, the farther behind you get left by those that CAN go fulltime.


Remember, college is about leveling the playing field, the means by which a lower class person can change his/her financial fate.
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School, after the first eight years, has largely become a waste of time. The exceptions are the medical field, etc. But it is highly over-rated and in many cases has become counter productive.
 
Grant said:
School, after the first eight years, has largely become a waste of time. The exceptions are the medical field, etc. But it is highly over-rated and in many cases has become counter productive.
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I wouldn't say first 8 years....I think general education is a good thing. Granted, I don't use much algebra in my day to day life, I don't regret learning it.
 
KevinKohler said:
I wouldn't say first 8 years....I think general education is a good thing. Granted, I don't use much algebra in my day to day life, I don't regret learning it.
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There are many other things that you might have learned as well, How to make a salad, balance a checkbook, understand quality in clothing, understand a few basic tools. We've been teaching the same things for too long and always in a white collar direction.. Alexis de Tocqueville should be taught rather than algebra..
 
Dickieboy said:
From one of you links:

•25-YEAR CANCELLATION — If you repay under the IBR plan for 25 years and meet certain other requirements, any remaining balance will be canceled.

And I understand BHO has further changed this to 20 years. Is 'canceled' synonymous with 'forgiven'?
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Under the law, federal student loans are already forgiven after 25 years. He's just knocking that period down by five years. Is such a measure liable to mean some students may not repaid their loans in full? I'm sure it will and that does concern me somewhat, but since his immediate repayment proposal is based strictly on how much the "student" earns and would increase his repayment consumate with his future earning (i.e., the student working part-time now as a cashier, waiter/waitress/hostess, landscaper, etc.) won't be doing that same job 3, 4, 5, 20 years from now assuming they're able to work in their degreed career field. I can speak on this because I have three young adult children between the ages of 19-23 who all work and one is attending out-of-state college on a full scholarship in aviation mechanics. The problem all three are facing right now is being able to afford to live on their own without my financial support.

My son whose in college until recently had a difficult time finding work even part-time. My oldest son finally found a job that pays above minimum wage. I'm helping him to better manage his money and encouraging him to invest now while he's young. My daughter is just now beginning to get on her feet after experiencing a few setbacks (poor dear; Murphy's Law just won't leave this poor child alone). So, I understand the struggles these college-bound Occupiers are lamenting. I see it every day in the lives of my children.

I really wish people would stop seeing things in such short-sighted, narrow views. Try to put yourself in someone else's shoes for a change.
 
Objective Voice said:
Under the law, federal student loans are already forgiven after 25 years. He's just knocking that period down by five years. Is such a measure liable to mean some students may not repaid their loans in full? I'm sure it will and that does concern me somewhat, but since his immediate repayment proposal is based strictly on how much the "student" earns and would increase his repayment consumate with his future earning (i.e., the student working part-time now as a cashier, waiter/waitress/hostess, landscaper, etc.) won't be doing that same job 3, 4, 5, 20 years from now assuming they're able to work in their degreed career field. I can speak on this because I have three young adult children between the ages of 19-23 who all work and one is attending out-of-state college on a full scholarship in aviation mechanics. The problem all three are facing right now is being able to afford to live on their own without my financial support.

My son whose in college until recently had a difficult time finding work even part-time. My oldest son finally found a job that pays above minimum wage. I'm helping him to better manage his money and encouraging him to invest now while he's young. My daughter is just now beginning to get on her feet after experiencing a few setbacks (poor dear; Murphy's Law just won't leave this poor child alone). So, I understand the struggles these college-bound Occupiers are lamenting. I see it every day in the lives of my children.

I really wish people would stop seeing things in such short-sighted, narrow views. Try to put yourself in someone else's shoes for a change.
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Wait a minute here. Did I just read you right? You are teaching your children to invest, while understanding the OWS'ers plight? Look we all pay our dues. Life is hard. My kids have a hard time as well. As do i, as do we all thanks to progressive policies that are the problem.

J-mac
 
Objective Voice said:
I really wish people would stop seeing things in such short-sighted, narrow views. Try to put yourself in someone else's shoes for a change.
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I understand and feel for your's plight but consider the 'long-sighted' view in which most of us have passed. When these outstanding balances are forgiven someone has to pay for them. Remember we will be gone leaving this to your children and THEIR children to pay for thus making their chore more difficult than you see it is today.
 
Grant said:
What do you think? Have you really given this any thought at all?

They spend less because the patient care is much poorer.

Do you really expect the first class service Americans have become accustomed to at cut rate prices? Does that make any sense to you at all?

Other countries who have free enterprise medical systems, something Americans have abandoned in several areas. are already gearing up for first class Medical Tourism.
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That's simply not true. They compare quite favorably with us, and have better access for more.

And nothing will stop the rich from spending more for useless things. They will always be free to overspend. But that isn't where the real problem is. We have such a poor system that we pay more on the whole and with less access.
 
This is a thread about Obama buying votes through supposed student loan relief, not health care....Could you stick to the subject please?

j-mac
 
j-mac said:
This is a thread about Obama buying votes through supposed student loan relief, not health care....Could you stick to the subject please?

j-mac
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Buying votes? Lord you guys are funny.

Anyway, perhaps the other fellow shouldn't have borught up health care. True, and I'd be happy to move to another thread. But I try to answer what is actually said. ;)

Now, if Obama were buying votes, then the effort is laughable as he clearly has not done enough to accomplish that. :coffeepap
 
Boo Radley said:
Buying votes? Lord you guys are funny.

Anyway, perhaps the other fellow shouldn't have borught up health care. True, and I'd be happy to move to another thread. But I try to answer what is actually said. ;)

Now, if Obama were buying votes, then the effort is laughable as he clearly has not done enough to accomplish that. :coffeepap
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That is IMHO his aim here.

j-mac
 
The latest atrocity by the Obama administration is the blatant vote-buying scheme, a “student loan forgiveness program” courtesy of the U.S. taxpayer.

snip

This latest squandering of taxpayer money for votes is by presidential fiat. The list is endless, and until we get responsible adults running the government, the children will vote for candy, candy, candy to our detriment!

Student-loan program is just Obama's way to buy votes | The Tennessean | tennessean.com
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the AP even thinks so...

WASHINGTON (AP) — Seeking to shore up support among cash-strapped college graduates and students struggling with rising tuition costs, President Barack Obama is outlining a plan to allow millions of student loan recipients to lower their payments and consolidate their loans.

Obama Buys Votes By Easing College Loans | Sweetness & Light
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So the question is do liberals think it is perfectly fine for a liberal democrat to use fiat to buy votes for his campaign using tax payer funds?

j-mac
 
Boo Radley said:
Buying votes? Lord you guys are funny.

Anyway, perhaps the other fellow shouldn't have borught up health care. True, and I'd be happy to move to another thread. But I try to answer what is actually said. ;)

Now, if Obama were buying votes, then the effort is laughable as he clearly has not done enough to accomplish that. :coffeepap
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Except, we aren't laughing.

We have a near-bankrupt country, floundering in a near-bankrupt flat ecomony, being run by an ethically bankrupt President, running an ethically bankrupt campaign, who is guaranteeing that the next generation will be bankrupt before they are born.

Its frikkin hilarious.
 
Eighty Deuce said:
Except, we aren't laughing.

We have a near-bankrupt country, floundering in a near-bankrupt flat ecomony, being run by an ethically bankrupt President, running an ethically bankrupt campaign, who is guaranteeing that the next generation will be bankrupt before they are born.

Its frikkin hilarious.
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What makes it funny is that it isn't likely true.

Now, as for being bankrupt, having student debt that CAN'T be paid won't help. In some practical fasion that should be addressed. Partisan silliness won't help much.
 
Boo Radley said:
That's simply not true. They compare quite favorably with us, and have better access for more.

And nothing will stop the rich from spending more for useless things. They will always be free to overspend. But that isn't where the real problem is. We have such a poor system that we pay more on the whole and with less access.
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I'm Canadian and grew up with the Canadian Medical system. I have lived many years in Costa Rica where both systems exist side by side. I'm familiar with the British Australian and New Zealand systems, having lived and worked in all those countries,

And you presume to tell me about government run health care systems? Where were all the wealthy Canadians go to seek good health care, Who will now be the great innovator in medical breakthroughs. The US will be farming that out for sure.
 
Boo Radley said:
Buying votes? Lord you guys are funny.

Anyway, perhaps the other fellow shouldn't have borught up health care. True, and I'd be happy to move to another thread. But I try to answer what is actually said. ;)

Now, if Obama were buying votes, then the effort is laughable as he clearly has not done enough to accomplish that. :coffeepap
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He doesn't seem to have accomplished much of anything, unless his intent was to get the United States hopelessly into debt.
 
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