Obama to take Executive Steps on Student Loans.....

MMC · Jun 8, 2014

Hi Everybody......Guess Who?

WASHINGTON (AP) — President Barack Obama is prepping new executive steps to help Americans struggling to pay off their student debt, and throwing his support behind Senate Democratic legislation with a similar goal but potentially a much more profound impact.

Obama on Monday will announce he's expanding his "Pay As You Earn" program that lets borrowers pay no more than 10 percent of their monthly income in loan payments, the White House said. Currently, the program is only available to those who started borrowing after October 2007 and kept borrowing after October 2011. Obama plans to start allowing those who borrowed earlier to participate, potentially extending the benefit to millions more borrowers.

Obama also plans to announce he's directing the government to renegotiate contracts with federal student loan servicers to encourage them to make it easier for borrowers to avoid defaulting on their loans. And he will ask the Treasury and Education departments to work with major tax preparers, including H&R Block and the makers of TurboTax, to increase awareness about tuition tax credits and flexible repayment options available to borrowers.....snip~

Obama to take executive steps on student loans - AP News 6/7/2014 7:52 PM

How is this reducing their costs? Where is he stepping? What say ye?

anatta · Jun 8, 2014

Student loans are a bottomless pit /a good reason college tuitions are so high -no impetus for any reason to control costs, just borrow more. need some kind of caps/regs.

MMC · Jun 8, 2014

annata said:
Student loans are a bottomless pit /a good reason college tuitions are so high -no impetus for any reason to control costs, just borrow more. need some kind of caps/regs.

Mornin' AT. :2wave: Yeah and he knows the Senate is working on something to. But they wont get it passed. Their always talking about Education and the cost.

Yet what are they doing to lower the Cost or even attempt to control it.....its not like they have jobs for these people to work off their debt.

Rainman05 · Jun 8, 2014

The problem with student loans is that they're guaranteed by the government in multiple ways.

There was this brilliant documentary that explained this very well saying that there is no way the bank loses when it gives out a student loan because even if it has to take your social security, it can under the rules of the student loan.

A simple way to fix this is to un-guarantee them. Say that the banks are on their own. Put student loans under the same idea as investment loans, if you file for bankruptcy and indeed, you are bankrupt, your debt gets removed. if you do this you solve many problems:
a) you stop inflating the damn student debt bubble that is huge.
b) a lot of colleges go away. Obsolete and stupid courses will go away (womens studies, african american studies[like those as berkleys], poetry study, <generic bs study>, social sciences, feminist studies, most arts, bible studies, etc) because most banks won't give someone a loan to go to those colleges because they're stupid and the chances of you getting a job that pays the bills is so low it's a joke. A lot of colleges that are worthwhile (medicine, engineering of all kinds, computer sciences, law, arhitecture, economics, psychology, etc) will get better because there is more competition for them.
c) you take the government out of the business of being basically the guy who knee-caps you if you don't pay the loan sharks their fees.

Now the cost of college.
The govt should intervene and get colleges out of the business of professional sports. College football, college basketball, etc, need to go. Sorry but they need to become their own thing that are not tied into college per se, no, not even sports college. A lot of the money from the fees go into funding these absurdities where colleges go and compete for prestige. Build stadiums and what naught. It also will get rid of this abuse of young people to make them play like professionals and not get paid.
The other thing it should do is make them pay a tax on earnings and do a profit cap and a salary cap. Colleges and universities aren't companies. They aren't in the business of making the big bucks to pay off old professors with golden parachutes. In exchange for this, the state will make a deal and offer more money to subsidize research in universities based on the number of people who are doing their doctorate thesis at each department.

APACHERAT · Jun 8, 2014

Have to keep the universities coffers full to make payroll.

Janet Napolitano, that's right Obama's former leftist Secretary of Department of Homeland Security must be concerned and dropped a dime calling the Oval Office.

The University of California has leased an Oakland residence for incoming system president Janet Napolitano for $9,950 a month, officials said Monday. Napolitano, the former (incompetent) U.S. secretary of Homeland Security and former governor of Arizona, will be provided the housing plus an annual $570,000 salary, $8,916 a year for car expenses and $142,500 for one-time relocation costs.

UC leases housing at $9,950 a month for president Napolitano - Los Angeles Times

votemout · Jun 8, 2014

Ok i agree with this, I also think we need a better system. I mean it was great until the .gov got involved. now look we have idiots that play sports reading at less then high school levels. I mean really?

CalGun · Jun 8, 2014

You know it reminds me of the lefts hew and cry about big oil in the White House with Bush. Academia is bummers big oil. Look at his donor list. Teachers unions, college faculty and of course administration lead the demand for bummer and he will repay them anyway he can.

MMC said:
Hi Everybody......Guess Who?

WASHINGTON (AP) — President Barack Obama is prepping new executive steps to help Americans struggling to pay off their student debt, and throwing his support behind Senate Democratic legislation with a similar goal but potentially a much more profound impact.

Obama on Monday will announce he's expanding his "Pay As You Earn" program that lets borrowers pay no more than 10 percent of their monthly income in loan payments, the White House said. Currently, the program is only available to those who started borrowing after October 2007 and kept borrowing after October 2011. Obama plans to start allowing those who borrowed earlier to participate, potentially extending the benefit to millions more borrowers.

Obama also plans to announce he's directing the government to renegotiate contracts with federal student loan servicers to encourage them to make it easier for borrowers to avoid defaulting on their loans. And he will ask the Treasury and Education departments to work with major tax preparers, including H&R Block and the makers of TurboTax, to increase awareness about tuition tax credits and flexible repayment options available to borrowers.....snip~

Obama to take executive steps on student loans - AP News 6/7/2014 7:52 PM

How is this reducing their costs? Where is he stepping? What say ye?

MMC · Jun 8, 2014

APACHERAT said:
Have to keep the universities coffers full to make payroll.

Janet Napolitano, that's right Obama's former leftist Secretary of Department of Homeland Security must be concerned and dropped a dime calling the Oval Office.

The University of California has leased an Oakland residence for incoming system president Janet Napolitano for $9,950 a month, officials said Monday. Napolitano, the former (incompetent) U.S. secretary of Homeland Security and former governor of Arizona, will be provided the housing plus an annual $570,000 salary, $8,916 a year for car expenses and $142,500 for one-time relocation costs.

UC leases housing at $9,950 a month for president Napolitano - Los Angeles Times

Should Professors and Teachers be given like an average middle class home. As part of their retirement package. Reg 2-3 bdr Normal middle class home. Owned outright! Some Reduced tax. Right there by those in their community? If costs are put onto the teachers. Who don't pay into social security. What if they have no taxes upon their homes or some miminal tax only. How much is knowledge worth?

How do you stop the Rise of Education? How do you stop the Universities and Professors from Increasing the Price for their time?

ttwtt78640 · Jun 8, 2014

Yep. More gov't taking care of gov't using other people's money to do so. Once the gov't gives itself a power it will grow to absurd levels. Ever bigger loans at ever slower repayment schedules means ever more taxpayer subsidized interest; banks and colleges love their big gov't partner.

anatta · Jun 8, 2014

Rainman05 said:
The problem with student loans is that they're guaranteed by the government in multiple ways.

There was this brilliant documentary that explained this very well saying that there is no way the bank loses when it gives out a student loan because even if it has to take your social security, it can under the rules of the student loan.

A simple way to fix this is to un-guarantee them. Say that the banks are on their own. Put student loans under the same idea as investment loans, if you file for bankruptcy and indeed, you are bankrupt, your debt gets removed. if you do this you solve many problems:
a) you stop inflating the damn student debt bubble that is huge.
b) a lot of colleges go away. Obsolete and stupid courses will go away (womens studies, african american studies[like those as berkleys], poetry study, <generic bs study>, social sciences, feminist studies, most arts, bible studies, etc) because most banks won't give someone a loan to go to those colleges because they're stupid and the chances of you getting a job that pays the bills is so low it's a joke. A lot of colleges that are worthwhile (medicine, engineering of all kinds, computer sciences, law, arhitecture, economics, psychology, etc) will get better because there is more competition for them.
c) you take the government out of the business of being basically the guy who knee-caps you if you don't pay the loan sharks their fees.

Now the cost of college.
The govt should intervene and get colleges out of the business of professional sports. College football, college basketball, etc, need to go. Sorry but they need to become their own thing that are not tied into college per se, no, not even sports college. A lot of the money from the fees go into funding these absurdities where colleges go and compete for prestige. Build stadiums and what naught. It also will get rid of this abuse of young people to make them play like professionals and not get paid.
The other thing it should do is make them pay a tax on earnings and do a profit cap and a salary cap. Colleges and universities aren't companies. They aren't in the business of making the big bucks to pay off old professors with golden parachutes. In exchange for this, the state will make a deal and offer more money to subsidize research in universities based on the number of people who are doing their doctorate thesis at each department.

small point, but "professional sports" do bring lots of income to colleges,, no need to post how, sure you know

Sababa · Jun 8, 2014

I remember all my right wing friends using all kinds of tricks to not pay back their student loans. It was pathetic and of course they just said that the government will take care of it. Same with the housing crunch it was right wingers telling people to walk away from bad mortgages. So when THIS PRESIDENT looks for relief the right wings go nuts.

mtm1963 · Jun 8, 2014

MMC said:
Hi Everybody......Guess Who?

WASHINGTON (AP) — President Barack Obama is prepping new executive steps to help Americans struggling to pay off their student debt, and throwing his support behind Senate Democratic legislation with a similar goal but potentially a much more profound impact.

Obama on Monday will announce he's expanding his "Pay As You Earn" program that lets borrowers pay no more than 10 percent of their monthly income in loan payments, the White House said. Currently, the program is only available to those who started borrowing after October 2007 and kept borrowing after October 2011. Obama plans to start allowing those who borrowed earlier to participate, potentially extending the benefit to millions more borrowers.

Obama also plans to announce he's directing the government to renegotiate contracts with federal student loan servicers to encourage them to make it easier for borrowers to avoid defaulting on their loans. And he will ask the Treasury and Education departments to work with major tax preparers, including H&R Block and the makers of TurboTax, to increase awareness about tuition tax credits and flexible repayment options available to borrowers.....snip~

Obama to take executive steps on student loans - AP News 6/7/2014 7:52 PM

How is this reducing their costs? Where is he stepping? What say ye?

its all about getting votes for this administration.

these people do not deserve any more relief then anyone else in terms of their loans/debt.

its about responsibility.

Thrilla · Jun 8, 2014

Sababa said:
I remember all my right wing friends using all kinds of tricks to not pay back their student loans. It was pathetic and of course they just said that the government will take care of it. Same with the housing crunch it was right wingers telling people to walk away from bad mortgages. So when THIS PRESIDENT looks for relief the right wings go nuts.

stop fooling around...you don't have right wing friends.

APACHERAT · Jun 8, 2014

MMC said:
Should Professors and Teachers be given like an average middle class home. As part of their retirement package. Reg 2-3 bdr Normal middle class home. Owned outright! Some Reduced tax. Right there by those in their community? If costs are put onto the teachers. Who don't pay into social security. What if they have no taxes upon their homes or some miminal tax only. How much is knowledge worth?

How do you stop the Rise of Education? How do you stop the Universities and Professors from Increasing the Price for their time?

The $9,950 per month house for Napolitano is just a temporary housing while the tax payers spend $3.5 to $6 million to renovate the 13,000 square foot "Blake House" that she will soon be moving into.

Cash-Strapped University of California May Spend Millions To Fix Up A House For New President Janet Napolitano

>" Since the first discussions of repairs years ago, critics have said that UC would be spending money it doesn't have or that could serve a better purpose. "Cuts of nearly $1 billion over the last five years have led to tuition increases and class shortages, and have strained relations with faculty and staff through the imposition of furlough days and hiring freezes," according to Reuters..."<

Read more: University California May Spend Millions On Napolitano's Home - Business Insider

MMC · Jun 8, 2014

APACHERAT said:
The $9,950 per month house for Napolitano is just a temporary housing while the tax payers spend $3.5 to $6 million to renovate the 13,000 square foot "Blake House" that she will soon be moving into.

Cash-Strapped University of California May Spend Millions To Fix Up A House For New President Janet Napolitano

>" Since the first discussions of repairs years ago, critics have said that UC would be spending money it doesn't have or that could serve a better purpose. "Cuts of nearly $1 billion over the last five years have led to tuition increases and class shortages, and have strained relations with faculty and staff through the imposition of furlough days and hiring freezes," according to Reuters..."<

Read more: University California May Spend Millions On Napolitano's Home - Business Insider

Well Someone should ask her.....why she needs to live in a Million dollar home? Whats the matter with a 60K Home she can Own outright and have no Mortgage or taxes? How does that reflect being just one of the people. Helping the community out with which she is serving still.

APACHERAT · Jun 8, 2014

MMC said:
Well Someone should ask her.....why she needs to live in a Million dollar home? Whats the matter with a 60K Home she can Own outright and have no Mortgage or taxes? How does that reflect being just one of the people. Helping the community out with which she is serving still.

Napolitano prefers public housing. It's free stuff.

MMC · Jun 8, 2014

APACHERAT said:
Napolitano prefers public housing. It's free stuff.

FEMA has mobile homes I hear. :lol:

Dittohead not! · Jun 8, 2014

It sounds all well and good, and is no doubt well intentioned, but making student loans easier to pay off just encourages more loans, which in turn encourages higher costs at the universities.

College used to be affordable, back before student loans were so easy to get.

MMC · Jun 8, 2014

Dittohead not! said:
It sounds all well and good, and is no doubt well intentioned, but making student loans easier to pay off just encourages more loans, which in turn encourages higher costs at the universities.

College used to be affordable, back before student loans were so easy to get.

Heya DH. Moreover it doesn't get them out of the debt. Will it show on their credit?

Dittohead not! · Jun 8, 2014

MMC said:
Heya DH. Moreover it doesn't get them out of the debt. Will it show on their credit?

Good question. If their student loans take up more than 10% of their income, their credit probably isn't too good anyway.

MMC · Jun 8, 2014

Dittohead not! said:
Good question. If their student loans take up more than 10% of their income, their credit probably isn't too good anyway.

Well, if it is extended out for a few more years one would think it would show. Where is BO getting the money for this?

He doesn't have the money to pay for his BO Care.....let alone try and act like he has a checkbook or wallet.

Dittohead not! · Jun 8, 2014

MMC said:
Well, Where is BO getting the money for this?

First, check your mirror, then take a look at pictures of the grandkids if you have any.

MMC · Jun 8, 2014

Dittohead not! said:
First, check your mirror, then take a look at pictures of the grandkids if you have any.

What about all these states that are kicking Common Core out, and throwing away the alleged money the Fed was going to give. Since those states wont take the money.

Dittohead not! · Jun 8, 2014

MMC said:
What about all these states that are kicking Common Core out, and throwing away the alleged money the Fed was going to give. Since those states wont take the money.

No problem. They'll find other ways to spend it. In fact, they probably already have.

MMC · Jun 8, 2014

Dittohead not! said:
No problem. They'll find other ways to spend it. In fact, they probably already have.

Well lets see they are kicking out Common Core.....MO's munch Program. I would says that's a good chunk of money Right there they are dropping. Also lets not forget BO's regulations to strip the states of a little more.

Obama to take Executive Steps on Student Loans.....

MMC

anatta

MMC

Rainman05

APACHERAT

votemout

CalGun

MMC

ttwtt78640

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anatta

Sababa

Well-known member

mtm1963

Thrilla

APACHERAT

MMC

APACHERAT

MMC

Dittohead not!

master political analyst

MMC

Dittohead not!

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MMC

Dittohead not!

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MMC

Dittohead not!

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