Odumbo and Student Debt

Scataphagos said:
I don't get it. College students signed a contract to receive loans... then along comes Odumbo and abrogates the terms of Millions(?) of contracts by presidential decree?

Should be law suits about this...
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Maybe Odumbo will extend it ... to mortgages, credit cards, car payments .... so let's forgive a mortgage balance after "x" years. Same with credit cards ... and car loans.

The problem is that people love to borrow $$$$ but then when the reality hits of how much they have to pay back with interest they bitch and moan.
 
DHOHHI said:
After he leaves office I wonder if he'll write a book ..... "How to Bankrupt the Country"
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It's already written. Search Cloward and Piven.

http://en.wikipedia.org/wiki/Cloward–Piven_strategy

"The Cloward–Piven strategy is a political strategy outlined in 1966 by American sociologists and political activists Richard Cloward and Frances Fox Piven that called for overloading the U.S. public welfare system in order to precipitate a crisis that would lead to a replacement of the welfare system with a national system of "a guaranteed annual income and thus an end to poverty". Cloward and Piven were a married couple who were both professors at the Columbia University School of Social Work. The strategy was formulated in a May 1966 article in liberal[1] magazine The Nation titled "The Weight of the Poor: A Strategy to End Poverty"...
 
Wow. If somebody is in their late 50s and loses their job, they should just take out a huge student loan, go to school for a few years then retire. That student loan will pay for the few years you need to get to SS while you flirt with all the young college kids and party away.

Maybe the institutions of higher learning should start marketing to the geezer crowd, publishing "score" rates for older folks. ;)
 
Tsing Tao said:
Seen on C-SPAN2: U.S. Senate blocks bill to allow refinancing of Student Loans, 56-38
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I wouldn't mind if they could refinance their debt, just as people with mortgages can. But ..... I would not allow under any circumstances this crap of forgiving the remaining balance after 10 or 20 years. And if Republicans came back with that kind of proposal I'd think it would help with younger voters.
 
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