With YOUR money.
The federal government, under obama’s direction, took over student loans from banks and other lending institutions last year.
Now there’s a new, more libaral plan…
The new scheme caps student loan payments at 10% of discretionary income and forgives debt after 20 years. Previously the cap was 15% and debt forgiveness after 25 years.
The problem here is that Obama can only relax repayment schedules for direct loans, where the federal government loaned the money directly to students. Until last year, most loans came from the private sector, guaranteed by the federal government but still managed by the private lenders. Obama and a Democratic Congress eliminated the guarantees in their “reform” of the student-loan industry, a reform that wipes out the “industry” entirely and forces students to deal directly with government instead. Without getting Congress involved, Obama can’t do anything about the private-sector loans.
Hot AirYour children: Snagged, Bagged and Tagged.
28. October 2011 at 11:06 am
http://www.theblaze.com/stories/teachers-union-offered-grant-to-create-activists-out-of-1st-2nd-graders/
doomed
28. October 2011 at 11:08 am
Holy moly!
“The National Education Association (NEA), the largest labor union in the country, offered a $5,000 Learning and Leadership Grant to two Wisconsin teachers who intended to use the funds to “help first and second grade students” become “activists.””
28. October 2011 at 2:16 pm
Kind of sums it all up.
28. October 2011 at 11:12 am
snagged, bagged, and tagged
28. October 2011 at 11:31 am
These are people funded by taxpayers!
28. October 2011 at 2:37 pm
You want to really lose your minds, check out “Brave New World” by Aldous Huxley which was published in 1932 (and wound up on the banned book list – here’s a wiki link: http://en.wikipedia.org/wiki/Brave_New_World).
It’s frightening with what he nailed, so to speak. That natural reproduction is gone and children are created. People are programmed to their caste and have no desire to achieve more. That it’s better to buy new and replace versus fixing it. Constant consumption is the way to go. No one goes to sleep on their own, they use a drug called “soma” to make them sleep. It’s just scary.
28. October 2011 at 4:55 pm
Is it anything like 1984? That scared the crap outta me.
28. October 2011 at 10:49 pm
The good news is that the bright kids can smell bullshit. And the wind is right for today’s kids to smell it.
That’s why so many in my generation turned left in their late teens and early twenties. Most, however, came back to center and center right. That is, after all, where the real world is.
University administrators today are scratching their heads and wailing about how many young republican clubs are erupting all throughout academia. Just like us, the smart kids can smell the bullshit. The stupid kids? Who cares. Let them bring their Black Studies and Women’s Studies degrees out into the real world. So, fuck ‘em, they’ll be lucky to make assistant manager of Buford’s Burger Bard by the time they’re thirty-five.
29. October 2011 at 6:29 am
I can almost predict which of the grandchildren will realize the truth and which will be campaigning for obama’s replacement…
It’s certainly not their fault that from his nomination they’ve come home chanting ‘obama, obama, obama’ like mindless drones. Telling everyone before the election that he was our HOPE and to vote for him… asking afterward if you DID vote for obama…If I was their mother I’d have been at that school to see for myself what was going on…
29. October 2011 at 9:37 am
They can pay off my loans. I’m still paying for undergrad and I graduated 20 years ago.
29. October 2011 at 10:22 am
You should be eligible, then.
29. October 2011 at 12:12 pm
Nope. I’m Caucasian, over 40 and employed. I am the 1%…