Obama Tackles College Loan Relief

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Obama Tackles College Loan Relief

Post by Schneibster » Tue Oct 25, 2011 11:43 pm

The plan, consisting completely of actions the executive branch can take without further Congressional interference, continues. This time college loans come under scrutiny; Obama will allow loans to be combined at lower interest rates (reasonable since interest rates are now lower) and start forgiving loans older than 20 years rather than 25; and reduce the required repayment from 15% to 10% of discretionary income yearly. Since college students are generally low-income, they will spend the money soon, overall, and the velocity of this money will therefore be high, improving the economy. Best of all, it costs nothing. That's why Congress doesn't get to interfere.

Read all about it in the no-doubt highly controversial and left-wing slanted Associated Press.
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Re: Obama Tackles College Loan Relief

Post by maiforpeace » Tue Oct 25, 2011 11:44 pm

Schneibster wrote:The plan, consisting completely of actions the executive branch can take without further Congressional interference, continues. This time college loans come under scrutiny; Obama will allow loans to be combined at lower interest rates (reasonable since interest rates are now lower) and start forgiving loans older than 20 years rather than 25; and reduce the required repayment from 15% to 10% of discretionary income yearly. Since college students are generally low-income, they will spend the money soon, overall, and the velocity of this money will therefore be high, improving the economy. Best of all, it costs nothing. That's why Congress doesn't get to interfere.

Read all about it in the no-doubt highly controversial and left-wing slanted Associated Press.
:hehe:
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Re: Obama Tackles College Loan Relief

Post by Schneibster » Wed Oct 26, 2011 12:00 am

Da Schneib hates on da propaganda.
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Re: Obama Tackles College Loan Relief

Post by Feck » Wed Oct 26, 2011 12:02 am

It's time Nations got back to the idea that an educated population benefits everyone and should not be funded on the basis of how much money a graduate can make and how soon we can grab back loans from them .
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Re: Obama Tackles College Loan Relief

Post by maiforpeace » Wed Oct 26, 2011 12:05 am

Schneibster wrote:Da Schneib hates on da propaganda.
You lie. You read Alternet. :hehe:
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Re: Obama Tackles College Loan Relief

Post by Schneibster » Wed Oct 26, 2011 12:30 am

maiforpeace wrote:
Schneibster wrote:Da Schneib hates on da propaganda.
You lie. You read Alternet. :hehe:
I read the Asia Times, too. Don't mean I don't hate on it. :zilla:
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Re: Obama Tackles College Loan Relief

Post by Schneibster » Wed Oct 26, 2011 12:33 am

Feck wrote:It's time Nations got back to the idea that an educated population benefits everyone and should not be funded on the basis of how much money a graduate can make and how soon we can grab back loans from them .
Bucky Fuller proved that if you just had the government acquire patent rights after the ordinary expiration for the patent holder, instead of releasing them to the public domain, for an additional seven years, you could fund education for everyone from the profits.
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Re: Obama Tackles College Loan Relief

Post by mozg » Wed Oct 26, 2011 6:29 pm

Well fuck me, perhaps i shouldn't have paid my loans back like a responsible person.
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Re: Obama Tackles College Loan Relief

Post by Schneibster » Wed Oct 26, 2011 10:08 pm

There's a recession on in case you hadn't noticed.
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Re: Obama Tackles College Loan Relief

Post by Ian » Wed Oct 26, 2011 10:15 pm

Schneibster wrote:There's a recession on in case you hadn't noticed.
Not true, but it may as well be for recent graduates. They're hit especially hard.

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Re: Obama Tackles College Loan Relief

Post by Schneibster » Wed Oct 26, 2011 10:44 pm

Ian wrote:
Schneibster wrote:There's a recession on in case you hadn't noticed.
Not true, but it may as well be for recent graduates. They're hit especially hard.
:what:

I should maybe have qualified it, "there's a recession on, on Earth?"
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Re: Obama Tackles College Loan Relief

Post by Gawdzilla Sama » Wed Oct 26, 2011 11:08 pm

mozg wrote:Well fuck me, perhaps i shouldn't have paid my loans back like a responsible person.
I just had $97,000+ in student loans written off. That dollar a year shit actually paid off.
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Re: Obama Tackles College Loan Relief

Post by pcCoder » Wed Oct 26, 2011 11:22 pm

I owe loans and got mine consolidated several years ago under one lender. To be honest I think it is worse. I think the interest on the consolidated loans are higher than what the originals were. I don't see how I can ever repay the loans.

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Re: Obama Tackles College Loan Relief

Post by Gawd » Wed Oct 26, 2011 11:43 pm

The solution to this is war.

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Re: Obama Tackles College Loan Relief

Post by Gawdzilla Sama » Wed Oct 26, 2011 11:50 pm

...against the Joos!
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