Suprised I haven't seen this on here yet.
http://my.barackobama.com/page/share/student-loan…
Are any of you wanting to spend some time in college to find yourself? Want to switch from your Women studies degree to art then maybe Chicano studies? Dont worry about the bill, Comrade Obama is going to pick up the tab for all of you!
As an article on Fox News put it, Take this example: If Suzy Creamcheese gets into George Washington University and borrows from the government the requisite $212,000 to obtain an undergraduate degree, her repayment schedule will be based on what she earns. If Suzy opts to heed the president’s call for public service, and takes a job as a city social worker earning $25,000, her payments would be limited to $1,411 a year after the $10,890 of poverty-level income is subtracted from her total exposure.
Twenty years at that rate would have taxpayers recoup only $28,220 of their $212,000 loan to Suzy."
Even better according to Obama's Ad (see link), if you follow Comrade Obama and pick up a public service position, you will only have to pay for up to 10 years.... tis a dream my friends... tis a dream for all our OWS breather in. I can now occupy the local coffee shop on campus for a little bit longer.
Uh, I'm sure you know that most of these programs have existed for a while, right? Totally don't agree with them but please take the blinders off.
http://studentaid.ed.gov/PORTALSWebApp/students/english/IBRPlan.jsp http://studentaid.ed.gov/PORTALSWebApp/students/english/PSF.jsp
http://www.finaid.org/loans/ibr.phtml
So expanding something Bush signed into law is what you should be complaining about.
This.
This is news because as it was passed last year, it would not start until 2014. He has come out today noting the new changes -- which are not currently happening now -- 1) 20 year repayment 2) 10% of income and he has said he is going to get this to start in 2012, not 2014 as it was passed by congress.
goddamnit can someone comment as to how make money of the college bubble?
Go to school - not only can you learn yourself how to profit OFF the college bubble, but you can also profit by not having to pay back your loans.
I posted this yesterday morning
This is only for government loans apparently. They tap out pretty quickly. Private loans don't apply.
The government should simply get out of this business. The Dept of Education costs $80 billion a year. Shut it down, fire everyone and save Americans some real money. The only way to fix this country is to shrink the cancer in Washingon DC.
Does anyone know just what in the fuck the department of education actually does in terms of adding value?
From their website:
The Department does not:
1) establish schools and colleges; 2) develop curricula; 3) set requirements for enrollment and graduation; 4) determine state education standards; or 5) develop or implement testing to measure whether states are meeting their education standards.*
http://www2.ed.gov/about/overview/focus/what_pg3.html#doesnot
The Department does:
1) establishes policies relating to federal financial aid for education, administers distribution of those funds and monitors their use. 2) collects data and oversees research on America’s schools and disseminates this information to Congress, educators and the general public. 3) identifies the major issues and problems in education and focuses national attention on them. 4) enforces federal statutes prohibiting discrimination in programs and activities receiving federal funds and ensures equal access to education for every individual.
http://www2.ed.gov/about/overview/focus/what_pg2.html#howdoes
Number 3 on their list of what the department does do is my favorite.
$80 billion PER YEAR to do essentially nothing. Bang. Cut that immediately.
Since the super committee is looking to cut $3 trillion over 10 years I basically got them 1/3rd of the way there, without touching an entitlement or raising taxes.
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