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

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

    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?

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

    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.

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

    Quote Originally Posted by annata View Post
    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. 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.

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

    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.

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

    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

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

    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?

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

    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.


    Quote Originally Posted by MMC View Post
    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?

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

    Quote Originally Posted by APACHERAT View Post
    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?

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

    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.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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

    Quote Originally Posted by Rainman05 View Post
    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
    Oṃ maṇi padme hūṃ

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