WASHINGTON -- More Americans are falling behind on student loans, threatening their ability to obtain mortgages and other credit in the future. The Federal Reserve Bank of New York says more than 31 percent of people with student loans at the end of last year were 90 or more days delinquent. That compares with less than 25 percent at the end of 2008. Student loans were the only type of credit to increase through the Great Recession and afterward. Student debt amounted to $966 billion at the end of last year, up 34 percent from four years earlier.
Comments: America transformed - into a house of debtors.
In Bay Area, there are adss run directed to "students", especially junior college and tech schools, encouraging to get loans and assuring them that part of it can be used for living expenses including rent.
The juco scam is simple; the juco´s use financial aid office to sign up the victim, the victim pretends they will enroll in certain classes, the jucos skim tuition and fees, the willing victim receives the remaineder and usually fails to complete the course work - often lacking intent to even start or lacking skills to pass. Take the cash, deal with consequences later. What does non dischargeable mean? Doesn´t matter, all will be forgiven if you´re a victim.
One of the unintendedd consequences is flooding courses and making it impossible for legitimate students to get into all requiredd classes in a timely manner. Takes an extra semester or two to get all transfer credits completed.
I thought a lot of boomers were spoiled. At my old undergraduate school, students expect a luxury suite with free WiFi and rec area. Party today and whine about the student loan debt that paid for an apt you couldn´t afford, later. Some parents walked into this with eyes wide open. Many can look to liberal policies for killing the job market and having junior back home only this time he has a LOT of debt.
Barack Obama, fundamentally changing America from a great nation to a third-world republic. Doing exactly what he promised he would do if elected. Now this community organizer is laughing his ass off and "living high on the hog" at the expense of all of us while we complain and do nothing to stop this fraud from destroying our beloved country. Why should one imbecile be allowed to destroy the future for 360 million Americans and the life of the yet unborn?
Do not forget that the kenyan klown, shortly after he occupied the presidency, had the federal government take over the student loan program. So the federal goverment can selectively ignore those who default on their loans. And here is a hint - historically black colleges/universities have incredibly high default rates. So enforcement of student loan debt will be like enforcement of illegal immigrants. The feds can essentially ignore the mess.
Many schools accept virtually any warm body. Any warm body is allowed to run up an unsecured student loan debt that wont ever be repaid. A stinging irony to low admission standards is that schools whine and cry that many students need remediation to qualify for college level coursework.
What is it going to take for people to realize that colleges and universities are businesses. They make money by charging tuition and fees, for which they grant degrees. Very many degrees are not worth the paper upon which they are printed. Everyone expecting to attend a college or university has to evaluate what a degree is really worth before going into debt to get it. Knowledge is no longer power, Skills are.
If these unsecured government insured student loans keep going South, the government may have no recourse but to forgive a lot of those student loans and change the non-chargeable status of the loans in bankruptcy law, for if they don´t, you could have many millions of young adults unable to purchase new automobiles or houses, and that will not do anything for the economy. If they do that, they will have to tighten up on who gets future loans, and that means if a student is not a member of a favored ethnic or racial group, or just very poor, it will be impossible for just plain Joe to get a loan unless it is a secured loan.
I am so tired of these students whining about not wanting to pay back the money they owe on their student loans. They spent the money; they all have big tv´s, new cars, tattoos and body piercings, but they just can´t find it in their heart of pay back what they owe. They need to pay back the money they owe. Period.
House Speaker John Boehner and GOP leaders today accused the Obama administration of misleading the public on the effects of the Affordable Care Act, which they claim has forced hundreds of thousands of Americans off their preferred health insurance plans. (Snip) President Obama also repeatedly promised in his campaign to enact the health insurance overhaul that, “If you like your insurance plan, you will keep it. No one will be able to take that away from you.” Today, House Republicans trained their fire directly at Obama, claiming he deliberately misled Americans with his statements. “The president knew that these letters
DENVER — Colorado´s state-run health exchange has been largely free of the headaches seen on the federally run shopping portal. But some exchange overseers say enrollments should be picking up at a faster pace. State health insurance exchange officials said Monday they have 3,164 enrollments through Connect For Health Colorado. Exchange officials have insisted they´re on pace to meet the goal of enrolling 136,000 people by the end of 2014. (Snip) State Medicaid officials, who also serve on the board, are happier with their 25,000 approved applicants who will be enrolled Jan. 1 under expanded Medicaid eligibility, another key feature
Before the Affordable Care Act became law in 2010, President Obama promised Americans they could keep their healthcare plan if they liked it. But already hundreds of thousands of citizens are receiving notification that their plans are being cancelled because they don´t comply with the new law, and, according to NBC News, the Obama administration has known for at least three years the cancellations were coming. (Snip) According to NBC News, approximately 50 to 75 percent of the 14 million Americans who buy their health insurance individually should expect to receive a cancellation letter over the next year "because their
Amid a furious global controversy over the National Security Agency´s spying on U.S. allies, Federal Bureau of Investigation Director James Comey said on Monday he will order all new FBI agents to visit the Rev. Martin Luther King Jr. Memorial to reflect on past “abuse and overreach” by the agency. Comey noted that former FBI Director Louis Freeh had ordered all new agent classes to visit the Holocaust Museum “so they could see and feel and hear in a palpable way the consequences of abuse of power on a massive, almost unimaginable scale.” That will continue, Comey said. But “I´m
New York City - Democratic Party candidate Bill de Blasio is on track to win a historic victory as mayor of New York next week, according to a new poll published Monday.(Snip) He promises to increase taxes on New Yorkers earning more than $500,000 to expand after-school programs for middle school students and to create universal pre-kindergarten programs from the age of four. He has also campaigned hard against stop-and-frisk -- a police tactic loathed by minority communities who see themselves as unfairly targeted. His African-American wife, Chirlane, an outspoken former lesbian, has featured prominently in his campaign. So have
We’re not complaining. We battened down the hatches at Houston´s Severe Weather Station KTRH and were rigorously put through our paces at the KTRH 24 hour Weather Center, prepared to drop everything and return from vacations if necessary should winds shift and a tropical storm enter the Gulf, or should one of those multi-colored spaghetti lines aim toward Galveston/Houston. Dr. Phil Klotzbach and Dr. Bill Gray of Colorado State University, two guys who really know this stuff, called for a 2013 Atlantic hurricane season with 18 named storms, 9 hurricanes, and 4 intense hurricanes (cat 3 or greater). The National
U.S. factories barely boosted their output in September, adding to other signs that the economy was slowing even before the government shutdown began on Oct. 1. Manufacturing production rose only 0.1 percent, the Federal Reserve said Monday. That´s down from a 0.5 percent gain in August, which was slightly lower than previously reported. Automakers boosted their output in September, but the gain was offset by declines at makers of computers, furniture and appliances. Overall industrial production increased 0.6 percent in September, mostly because of a 4.4 percent jump in utility output. Utilities had fallen for five months. But September was
President Obama and his family attended Sunday services at St. John´s Episcopal Church, which is across Lafayette Park from the White House. It is a day for reflection, not politics. When a pool reporter asked if the Obamacare website can be fixed by the end of November, Obama responded: "C´mon guys. I´m going to church." During the service, seminarian Sarah Taylor offered prayers "for Barack, our president, the leaders of Congress, the Supreme Court, and all who are in authority, for Afghanistan, and the Middle East, for this community, the nation and the world." After church, in the afternoon, Obama took
As a powerful storm makes its way towards England and Wales, drivers, homeowners, and commuters are being urged to be vigilant in dealing with ‘potentially significant travel disruption’ on the first day of the half-term period. The Met Office has issued an amber warning – meaning ‘be prepared’ – for winds of up to 80mph in Wales, the west and east Midlands, east and south-west of England, and London and the south-east. The gale force gusts are expected to hit just as thousands of families around the country begin their half-term break. The winds coupled with a yellow warning for
A Colorado court on Friday released a long-sealed 1999 grand jury indictment of JonBenet Ramsey´s parents for child abuse resulting in death, but it gave no specifics and did not accuse them of killing her. Prosecutors declined to act on the indictment and charge John or Patsy Ramsey at the time, and years later they publicly exonerated the couple and suggested an unknown intruder was the culprit. Yet the Boulder Police Department — which put the Ramseys under an "umbrella of suspicion" soon after the 6-year-old beauty queen´s slaying in 1996 — portrayed the belated document release as a vindication
The Affordable Care Act was signed by President Obama in 2010 and since then he has repeated one reassuring phrase: "If you like your insurance plan you will keep it. No one will be able to take that away from you. It hasn´t happened yet. It won´t happen in the future." (Snip) "Before I had a plan that I had a $1,500 deductible," she said. "I paid $199 dollars a month. The most similar plan that I would have available to me would be $278 a month. My deductible would be $6,500 dollars, and all of my care after that
If House lawmakers wanted a clear admission of guilt during today’s testimony from four government contractors behind the botched healthcare.gov launch, they must have been sorely disappointed. Instead, the committee hearing offered a daisy chain of blame and interconnected responsibilities—a reflection of just how convoluted the massive effort became. An official from CGI Group (GIB/A:CN), the main contractor for the Obamacare health exchanges, described 55 different subcontractors who worked on the site, which consisted of six main “complicated systems” and interacted with numerous
"All we´ve been hearing the last three years is if you like your policy you can keep it.... I´m infuriated because I was lied to," one woman told this newspaper, as part of a story on how some middle-class Californians have been stunned to learn the real costs of Obamacare. And that lie looks like the biggest lie about domestic policy ever uttered by a U.S. president. The most famous presidential lies have to do with misconduct (Richard Nixon´s "I am not a crook" or Bill Clinton´s "I did not have sexual relations") or war. Woodrow Wilson campaigned on the slogan "He kept us out of war" and then plunged
The following script is from "Benghazi" which aired on Oct. 27, 2013. The correspondent is Lara Logan. Max McClellan, producer.When Chris Stevens was killed in Benghazi, Libya, on the anniversary of September 11th last year, it was only the sixth time that the United States had lost an ambassador to its enemies. The events of that night have been overshadowed by misinformation, confusion and intense partisanship. But for those who lived through it, there´s nothing confusing about what happened, and they share a sense of profound frustration because they say they saw it coming. Tonight, you will hear for the
President Obama repeatedly assured Americans that after the Affordable Care Act became law, people who liked their health insurance would be able to keep it. But millions of Americans are getting or are about to get cancellation letters for their health insurance under Obamacare, say experts, and the Obama administration has known that for at least three years. Four sources deeply involved in the Affordable Care Act tell NBC News that 50 to 75 percent of the 14 million consumers who buy their insurance individually can expect to receive a “cancellation” letter or the equivalent over the next
Food stamp recipients face a massive benefit cut set to kick in when stimulus funds expire Friday. The nationwide cut “is equivalent to about 16 meals a month for a family of three,” according to a Center on Budget and Policy Priorities analysis using the USDA’s “Thrifty Food Plan.” CBPP called the roughly $5 billion annual cut to the Supplemental Nutrition Assistance Program “unprecedented” in “depth and breadth.” “If you look across the world, riots always begin typically the same way: when people cannot afford to eat food,” Margarette Purvis, the president and CEO of the Food Bank..
"There´s a mental health problem in Congress," says actor and liberal activist Sean Penn. The president could solve the problem "by committing them by executive order," Penn told CNN´s Piers Morgan Monday night. Asked if Penn would have "people like Ted Cruz" committed, Penn said, "He is my American brother. I won´t -- I think we should take care of him, he is in, he´s the trouble." "Well, actually have him committed," Morgan followed up. "Yeah, I think it´s a good idea," Penn said. Penn, in a rambling way, also identified a "lack of education" as a "huge problem that we´re dealing with
President Barack Obama personally authorised the phone tapping of Chancellor Angela Merkel’s mobile because he wanted to ´know everything´ about the world’s most powerful woman, it was claimed on Sunday. (Snip) ‘Obama did not stop the action at that time but allowed it to continue,’ said an intelligence official familiar with the NSA operation against Merkel image on Sunday. ´Obama did not stop the action but rather furthered it,´ said the Bild informant. ´The reason for the action?´ said Bild. ´Obama wanted to know exactly who this woman was.´ German handling of the eurozone crisis and its refusal to get involved
First Lady Michelle Obama and her Princeton classmate whose company received the no-bid government contract to build the HealthCare.gov Obamacare website were both members of a black student organization that caused a tense scene on campus by inviting a PLO leader who advocated for terrorism. Michelle Obama ’85 and her classmate Toni Townes-Whitley ’85, a senior vice president at CGI Federal, were both students at the university when their groups the Organization of Black Unity (OBU) and the Third World Center (TWC) engaged in a confrontation with Jewish students on campus. Michelle Obama was a member of both the OBU and TWC
Meghan McCain said she’s already defied the odds by not disappearing from the public stage after her father’s failed 2008 presidential campaign, and that part of the reason is some regard her as the new face of the Republican Party. “People project onto me what they want me to be,” said Ms. McCain, the daughter of Arizona Sen. John McCain, in Politico. “If they want me to be this spoiled, crass senator’s daughter, then they will create that and say that to be on Twitter and write articles on me.” Others, meanwhile, “think I’m the second coming of the new
In sad news from the land of McCain, “Raising McCain” host and McCain family scion Meghan McCain said in an interview with ABC and Yahoo News that her father, Senator John McCain (R-AZ), was “frustrated” and “depressed” by the Tea Party. Meghan termed the Tea Party the “hyper-conservative wing.” She said, “We’re both frustrated with the idea that only the hyper-conservative wing of the party is going to represent the masses.” The last time dad was this depressed, Meghan reported, was after he lost the presidency to then-Senator Barack Obama. Meghan said, “He is so depressed. He is so downtrodden. The way
We all expect presidents to be "economical with the truth" at least once in their career--but in the last few days Barack Obama´s administration has been charged with telling no fewer than three fibs on three separate subjects. [Snip] 1. CBS says that the Obama administration knew all along that what happened at Benghazi was a planned terrorist attack. Its 60 Minutes news show discovered two security advisers who say that months before the attack on the US embassy, al-Qaeda threatened to assault the Red Cross, the British and then the Americans. And--surprise, surprise--they went on to assault the Red
On Monday, NBC News reported that President Obama’s administration knew for three years that Americans would lose their current insurance under Obamacare. The story quickly became the lead at the Drudge Report, making it the hottest political story on the Internet immediately. For several hours, there was no problem. Then, late at night, the story was pulled, the link was changed thereby breaking the Drudge link, and stealth edits were made to the piece. In particular, one key paragraph met the cutting room floor: None of this should come as a shock to the Obama administration. The law states that
It’s just one tweet, but the sheer mendacity requires its own post. With the media finally in “now it can be told” mode since Obamacare passed and President Obama was reelected, pretty much everyone is admitting what all of us knew four years ago— that no, not everyone would be able to keep their plans if they liked their plans. And, yes, the Obama administration knew it just as sure as its critics did. It was a lie and an obvious one, but the administration, much of the media, and Obamacare supporters happily acted as if it were true and happily