Obama To Announce Student Loan Relief Plan
CF
(Neanderthal, 2,218
Points)
on 10/26/11 at 8:31am
http://www.foxnews.com/politics/2011/10/26/obama-t...
I thought it would be interesting to hear what some of you have to say about this.
You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.





So basically payments are
So basically payments are reduced and after 20 years balances are forgiven. For some reason I don't think these protesters are going to be satisfied by that.
Also, thanks to the US Congress for passing this ALREADY. Obama is simply implementing it faster.
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Too many people attend
Too many people attend college.
Someone who is 200k in debt
Someone who is 200k in debt for an art degree deserves their debt. No sympathy here for that.
Obama could also draw
Obama could also draw attention to an already existing program:
http://studentaid.ed.gov/PORTALSWebApp/students/en...
http://studentaid.ed.gov/PORTALSWebApp/students/en...
But alas, these unemployed kids have a clear and existing path to loan forgiveness, unfortunately it involves working and effort.
If only they could get something for nothing. Oh wait, Obama is president.
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Why should we encourage
Why should we encourage people to underachieve and provide cop outs for kids who can't afford to repay their debt?
There are definitely programs
There are definitely programs from the government to deal with too much loan debt vs. income. It is the Income based repayment plan and the payments are based upon your income, readjusting each year. After a certain number of years the loans are forgiven.
By lowering the % that loan payments are of income, it just increases the amount of money the government will end up forgiving over time. With all the student loan debt out there its not the best idea.
"yeah, thats right" High-Five
LMAO @ some of the dbag
LMAO @ some of the dbag replies in this thread. How about for the student who are unemployed against their will and trying to find work but stuck working at Walmart.
'We're bigger than U.S. Steel"
Wasserstag526 wrote: LMAO @
LMAO @ some of the dbag replies in this thread. How about for the student who are unemployed against their will and trying to find work but stuck working at Walmart.
Walmart is number 1 on the Fortune 500 and Global 500 list.
*Troll Face*
You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.
Wasserstag526 wrote: LMAO @
LMAO @ some of the dbag replies in this thread. How about for the student who are unemployed against their will and trying to find work but stuck working at Walmart.
Then they should have learned something more useful or worked harder. You have no control over your intelligence, but how hard you work is totally up to you. Anyone can get a job through hard work.
R5A7B wrote: Wasserstag526
LMAO @ some of the dbag replies in this thread. How about for the student who are unemployed against their will and trying to find work but stuck working at Walmart.
Then they should have learned something more useful or worked harder. You have no control over your intelligence, but how hard you work is totally up to you. Anyone can get a job through hard work.
Believe it or not, not everyone has the same set of opportunities. I agree with you to a point, but it's not as cut and dry as you're making it out to be. Everyone on this board works in an industry where you have to be super ambitious and aggressive just to survive. It's not the same in other industries... I seriously doubt there are people getting degrees in nursing or criminal justice that no anything about networking for a job lol.
'We're bigger than U.S. Steel"
Wasserstag526][quote=R5A7B][q
[quote=Wasserstag526][quote=R5A7B]
I seriously doubt there are people getting degrees in nursing or criminal justice that no anything about networking for a job lol.
Those are completely different worlds
You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.
I understand your point, but
I understand your point, but even people with great opportunities can be lazy about. My brother, for example, had the same set of opportunities I did. He is graduating this Dec and is screwed for getting a job (studied hard sciences). He was lazy about grades, lazy about getting contacts, lazy about finding a job. He is intelligent enough to succeed in what he does, but just doesn't work hard. I have zero pity for him.
I think the networking mentality has spread, but perhaps the know-how of being good at it has not. People need to figure out that it doesn't matter what field you are in, you still have to be ambitious to succeed.
Man, I feel like a chump
Man, I feel like a chump making student loan payments.
I notice that the older I am the more I sound like Illini Programer
- accountingbyday
It's all about being
It's all about being aggressive in this economy and putting yourself in front of the people in charge of hiring in a tactful manner. Most people don't grasp this concept or are too shy to do it.
'We're bigger than U.S. Steel"
We cannot know what an other
We cannot know what an other person is thinking or doing. Maybe some are lazy, maybe some chose the wrong major or school, maybe some were responsible and maybe some maxed out loans to party.
Because we do not know the individual choice, we should not be involved with the outcome. The government should not help these people with other peoples money.
Freedom to succeed and freedom to fail.
I also don't think the government should be in business of helping banks or lenders by making student loans bankruptcy proof..
Bankruptcy is and was pretty revolutionary. It allows you to take risks and be more entrepreneurial. It also allows people to get knocked down and recover from a bad decision. With student loans being unable to be forgiven, you simply can never fix your situation.
Allow them to be discharged. Most people will still repay. Some will default. Banks will have better lending standards or caps on loans and we won't have this issue. Unemployed medieval arts grads will claim bankruptcy, ruin their credit, but move forward in life and become productive citizens. Banks will stop lending to these bullshit majors and market forces will provide a strong signal to young students on which degree is marketable.
Government influence will decline, agencies will be disbanded and taxes would decline because of a lower overhead cost.
But no. Let's keep fucking with the system and having government control. Merry Christmas kids. You can now be miserable and fucked for 20 years, not 25. Thanks Comrade Obama.
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Wasserstag526 wrote: Believe