Education: President Obama had a great idea back in 2010: nationalize the student loan program, and its problems would soon go away. It didn´t happen. Instead, more people are refusing to pay their student loans than ever before. In a study released last week, the Consumer Federation of America found that millions of people were in arrears on $137 billion in federal student loans in the first nine months of 2016, an increase of 14% from 2015. All told, the federal government´s portfolio of student loans now stands at a whopping $1.3 trillion. As the Washington Post notes, "What´s striking about the
I know a young 20-something couple, both just received their Masters after four years living on student loans. Drove a nice car, lived in an up-scale apartment all during their schooling. Now they both have pretty good jobs and are shocked they each have $600 a month student loan payments to make on a (combined) $200,000 student loan. It will take them 30 years to pay it off! if then! Speaking of screwing up your life!!!
Reply 3 - Posted by:
Rather Read, 3/20/2017 8:45:54 AM (No. 11195441)
When my daughter went to college, she got a job and I got a second job. She also got a grant. With all that, she graduated not owing anything (although we were both worn out at the end of it). Her husband isn´t so lucky. He still has his student debt. It isn´t HUGE, but it´s still there and will be for a while.
To a large extent, it´s as much the fault of the educational system as the deadbeat students it so eagerly recruited. By grossly overcharging for tuition with the complicity of the student-loan program (hey, it´s only somebody else´s money - isn´t it??) they´re as much to blame for the massive debt as those who took out the loans. The universities should be responsible for paying back half the loan money that they charged for the mediocre education they provided.
Getting a student loan should parallel that of business or any other loans. STEM majors, who stand a better chance of obtaining decent employment and repaying the loans should be given preference. Black Lesbian Studies? Sorry.
As the dad of multiple kids, I was on intimate terms with Sallie Mae. Other than the confusing loan application forms the payback process was reasonably straight-forward. But once the federal camel stuck its nose under the tent, the process became unbearable. Thank God, I am out from under but I pray for those still in thrall to a government process that is every bit as inefficient as everything else the feds try to manage.
Banks used to never loan money to ´credit risks´ and students for sure fit that category. What the Feds REALLY wanted was to have every kid on the big fat hook financially, along with health-wise in order to turn us into a totally Orwellian State. Total domination and control was the objective, and it´s almost achieved.
Oh, by the way, if those kids with massive student loan debt just ´submit´ and go work for the Federal Government, then they can write off the debt faster than if they were working in the private sector. Whatever happened to that silly little "Equal Protection" clause of the Constitution??
The years when all we heard was that kids had to have a college education and they beleived it. So the borrowing began. My son one of them. He was learning on the job and hardly any of the college experience helped him as he already knew how to do the jobs. But he couldn´t get a job without that degree. We were not financially able to help him so he went with the loans. After the degree he got a job but it not paying what he needed to live and make the payments. And so it goes. He was a younger one hired so they didn´t have to pay one that had worked their way up to top wage. Now he´s bound by loans that will take many years to pay off. A good chance he too will be replaced some day for someone cheaper.
Welfare recipient took their family(4) on a trip to Disneyland using student loan. ...from HAWAII! Also used the student loan to see their kids baseball tournament out of state! And you and I paid for it!!!
At our local (very good btw) community college, students apply for the loan, sign up for the minimum number of units to qualify for the loan, rarely attend class (never for classes that have no sign-in sheet), wait till they get their loan check, drop all their classes, and then repeat the next semester. They are sort of living on their loans, doing very little (some get part time jobs) but doing a lot of traveling, hanging out, going to rock shows, having fun. And not worrying about their futures.
The moment I heard about Obama´s scheme to have the feds take over the student loan program, everything that has happened since: increased fraud, more corruption, tuition increases, increased rates of non-repayment of these loans, enormous spike in debt being carried by the govt.(i.e. taxpayers) was pre-ordained. Do Democrats do anything good for the people or for America? Absolutely not.
Regulation: "Net neutrality" has become the Holy Grail of various so-called consumer organizations. But government regulation isn´t what consumers need. Competition is. And there would be more of that if the government would get out of the way. On Thursday, the Federal Communications Commission voted 2-1 to start undoing the massive expansion of the FCC´s regulatory control over the internet, enacted two years ago by the Obama administration under the guise of protecting "net neutrality." From the reaction — or more accurately, the overreaction — from advocacy groups and know-nothing pundits, you´d think they´d just voted to exterminate the internet. Let´s leave aside
Russian Connection: The naming of former FBI head Robert Mueller to look into allegations of improper Russian influence on the last election should have a clarifying effect — and not just for President Donald Trump, who is the main target of the probe. President Obama´s and Hillary Clinton´s Russian ties will come under the legal microscope, too. Mueller, who was named by Deputy Attorney General Rod Rosenstein to act as special counsel, has a reputation for being a competent straight shooter. After all, he was able to get along with both President George W. Bush and President Barack Obama. We hope
Politics: The fact that some Democrats are already calling for the impeachment of President Trump is hardly news. What is news is the fact that even some ardent liberals are worried that reflexively jumping on the impeachment bandwagon is folly. According to a list compiled by CNN, 27 Democrats have so far come out in favor of impeaching Trump. What they don´t provide is context. For 36 years, Democrats have routinely called for impeaching Republican presidents at the drop of a hat. Here is a sampling: On May 1, 1981, thousands of protesters marched in Washington to denounce President Reagan´s economic and social
While there´s much to recommend about Donald Trump´s recently floated tax-reform proposal, we think the President and his team erred by not seeking to abolish the charitable deduction. We say this in full consideration of the health of nonprofits. About the deduction, it´s frequently argued that if it shrinks or goes away altogether, donations to charities will dry up. Such worries are overdone, not to mention that the deduction itself is arguably immoral. Fear of reduced giving is overstated simply because charitable donations aren´t driven by the tax preference nearly as much as many presume. As American Enterprise Institute President Arthur Brooks
Climate Deceit: Just when you think the climate change lunacy couldn´t get any worse, the U.N.´s climate-crats up the ante. Meeting in Bonn, Germany, for yet another unneeded climate conference, attendees are now demanding $300 billion a year more to help less-developed nations cope with anticipated climatic warming. Are they kidding? By the way, that $300 billion is in addition to the $100 billion that the world´s governments have already promised to deliver under the Paris Climate Agreement. So now they´re asking for a total of $400 billion a year in climate welfare for the developing world. No sane government would
Priorities: President Trump finds himself embroiled in a number of controversies at the moment. Blame whomever you want for the scandal-of-the-day, someone needs to tell Trump that the only thing he should be talking and tweeting about is getting the economy back on track. Yes, there have a been some good economic reports recently. Industrial output rose sharply in April, the Federal Reserve said on Tuesday. The 1% monthly gain was the biggest jump in more than three years. And unemployment dropped last month to the lowest it´s been since 2007. Surveys of businesses show them to be optimistic. But GDP growth
Media Anti-Trump Bias: The Washington Post now reports that President Trump revealed U.S. secret intelligence about terrorist plots to the Russians. While the story is likely mostly true, our only question is: So what? The Post, for its part, cited as sources for its story "current and former U.S. officials," who said that intelligence that Trump shared had "been provided by a U.S. partner through an intelligence-sharing arrangement considered so sensitive that details have been withheld from allies and tightly restricted even within the U.S. government." We have no reason to disbelieve the basic story that Trump shared some intelligence with the
Scandal: Here´s a story that would seem ripe for media bloodhounds to pursue. A disgruntled insider may have leaked damaging information about his employers, and was later murdered on his way home by two unidentified assailants. Put President Trump´s name somewhere in the mix and it would be the latest scandal-to-end-all-scandals, capturing wall-to-wall coverage, eliciting new calls for independent prosecutors and impeachment, and probably making Jimmy Kimmel cry again. But since the person involved worked for the Democratic National Committee, it´s being ignored by everyone in the press except a cadre of conservative reporters. The story involves Seth Rich, a DNC staffer who
Debt: Yes, Puerto Rico is broke, and has declared the equivalent of bankruptcy in a federal court. But U.S. states, cities and counties have no reason to feel superior. They, too, are nearly insolvent, running deficits as soaring pension costs threaten the nation´s fiscal health, a new report says. The study by Hoover Institution Senior Fellow Joshua Rauh, "Hidden Debt, Hidden Deficits," is an update of a report issued last year. It should sound an alarm across the U.S. about the growing crisis of underfunded pensions at the state and local level. Instead, sadly, it will likely be ignored. To put it
Income Inequality: Every year the AFL-CIO puts out a grossly misleading but widely covered report on "excessive" CEO pay. But what about top union bosses? Turns out their salaries are actually bigger than that of the average CEO. The latest report from the AFL-CIO claims that the CEO-to-worker pay ratio in 2016 was 347 to 1. In other words, for every dollar the average worker makes, the top CEOs in the country make $347. That´s up from 123 to 1 in the mid-1990s, and 20 to 1 in the 1960s. That´s the story anyway. And every year, the statistic gets extensively reported
The drug lords, street thugs, and Mugabe wannabes running Venezuela these days are trembling in their boots this morning. Seems the European Union has issued a Stern Warning to them about violence against protesters. This being the E.U., I will have to clarify: the E.U. is against it. That´ll fix ´er. Which brutal dictatorship doesn´t listen eagerly and take heed dutifully when the august bodies of the European Union issue their pronunciamientos? EU foreign ministers said in a statement Monday that "violence and the use of force will not resolve the crisis in the country." They said people´s rights "must be respected, including
Supporters of the American Health Care Act (AHCA) claim an unparalleled victory, a promise fulfilled, and a cure for our failing health care system. Detractors see the end of the world: "thousands will die" from lack of health insurance. Let´s all step back from the ledge, take a deep cleansing breath, eschew the hyperbole, and consider six facts followed by a suggestion. Fact #1: Nothing has happened, nothing at all. Despite the shock and awe, regardless of proclamations of "insurance for everybody" on the one hand or doomsday on the other, the AHCA has not impacted the health care of a single
While former president Barack Obama hit the links on the first day of their Tuscany vacation, his wife Michelle was spotted taking in the sights in Montalcino almost 70 miles away. The former first lady wore an off-the-shoulder pink top, with white ripped jeans and white sandals as she wandered around the stunning Italian hill town on Saturday, accompanied by members of her security team. Michelle was later seen tucking into some Italian gelato before she climbed into her waiting car. Meanwhile her husband Barack enjoyed a day of golf at the exclusive Castiglion del Bosco course, during the Obamas´
Two leading Republican senators on Sunday said President Trump is making a mistake by failing to more forcefully confront Saudi Arabia over the country’s treatment of women and other human rights issues in the Middle Eastern nation. Mr. Trump’s highly anticipated address in Saudi Arabia on Sunday will focus heavily on the fight against terrorism but will include little in terms of human rights. While administration officials say the topic has been discussed in private settings, critics say that’s simply not enough. “America is the unique nation in history, with all of our errors and failings and mistakes we’ve made
Notre Dame students are planning to walk out during the Vice President´s commencement address. The students are planning to leave ´respectfully and quietly´ before Mike Pence delivers his speech on Sunday, and are organizing the walkout because they disagree with his administration´s stance on immigration, gay rights and the criminal justice system. The organizers of the walk out are a part of a student group in Notre Dame called We Stand For ND. For four days, this group has galvanized support for their plan through Twitter and Facebook, to stand with the ´vulnerable´ members in their community. ´The participation and
SOUTH BEND — Vice President Mike Pence on Sunday delivered a call for leadership to the University of Notre Dame´s newest graduates, urging them "to be men and women of integrity and values" and to stand up against the suppression of free speech. "Notre Dame is a campus where deliberation is welcomed, where opposing views are debated, and where every speaker, no matter how unpopular or unfashionable, is afforded the right to air their views in the open for all to hear," Pence told students at the commencement ceremony. But about 150 people, about half students and the other half
Ex-Vice President Joe Biden slammed Trump for his ´coarse rhetoric´ and causing ´political chaos´ during a college commencement speech on Sunday. Biden was speaking to the 480 students of Maine liberal arts institution Colby College when he launched the attack on the current administration. He complained that the GOP had spent the election appealing to the ´baser instincts´ and fears of the electorate, stoked ´our darkest emotions,´ and turned Muslims, immigrants and transgender people into scapegoats for a struggling working class. After calling on students to return to the ´basic principles´ of the Constitution, he then congratulated them one by
While Barack was hitting the links in Tuscany, Michelle Obama was hitting the sights about 67 miles away ... and looking good in pink doing it. The former First Lady was strolling around in Montalcino, Italy this weekend -- and she appeared to be the talk of the small town. You can´t blame the locals ... she kinda stood out with the pink and white. Plus ... it´s Michelle Freakin´ Obama. She´ll always turn heads. Michelle snagged a second for herself during a food break, but then it was right back into the international spotlight. Togliti di mezzo!
Michelle Obama has been enjoying her Italian vacation in style—and got a welcome fit for a star as she and her husband visited the city of Siena, Tuscany today. The former First Lady looked especially glamorous as she stepped out in a flirty shoulder-baring top, paired with a high-waisted khaki-colored pants. Her husband, who previously went out for a scenic bike ride in the countryside, had ditched his sporty outfit for a polished shirt and pants. A massive crowd cheered after spotting the former presidential couple, with some fans yelling: ´President Obama!´ Scroll down for video The pair, who arrived in Italy Friday
On July 8, 2016, 27 year-old Democratic staffer Seth Conrad Rich was murdered in Washington DC. The killer or killers took nothing from their victim, leaving behind his wallet, watch and phone. Shortly after the killing, Redditors and social media users were pursuing a “lead” saying that Rich was en route to the FBI the morning of his murder, apparently intending to speak to special agents about an “ongoing court case” possibly involving the Clinton family. Seth Rich’s father Joel told reporters, “If it was a robbery — it failed because he still has his watch, he still has his
Fox News staffers are growing increasingly dismayed as network star Sean Hannity and others continue to promote the unfounded conspiracy theory that Seth Rich, a Democratic National Committee staffer was murdered last year for talking to WikiLeaks. The Daily Beast spoke to nearly a dozen reporters, pundits, and hosts inside Fox News who all conveyed the same sentiment: Hannity is “embarrassing” the network, and the promotion of the Rich conspiracy theory is senselessly cruel to a grieving family. “ARE WE STILL AIRING THAT SH*T?!” one Fox News political reporter, who says they are furious that the conservative cable-news giant is
China killed or imprisoned 18 to 20 CIA sources from 2010 to 2012, hobbling U.S. spying operations in a massive intelligence breach whose origin has not been identified, the New York Times reported on Saturday. Investigators remain divided over whether there was a spy within the Central Intelligence Agency who betrayed the sources or whether the Chinese hacked the CIA´s covert communications system, the newspaper reported, citing current and former U.S. officials. The Chinese killed at least a dozen people providing information to the CIA from 2010 through 2012, dismantling a network that was years in the making, the newspaper
Riyadh, Saudi Arabia - First lady Melania Trump´s fashion choices got rave reviews in local Saudi Arabian press Sunday, despite forgoing the customary headscarf. Both the first lady and first daughter Ivanka Trump have been closely watched in Saudi Arabia for both style and substance. [snip] On Sunday, the first lady conducted a few solo events while her husband continued bilateral meetings with the Gulf Cooperation Council. She visited the American International School in Riyadh and an all-women General Electric service center, tweeting out images from both visits, calling the visits an "honor" and praising "international perspective and education to
UPDATED: June 14, 2016: The Washington Post reports "Russian government hackers penetrated the computer network of the Democratic National Committee." On what did the paper base this claim? The Post cites "committee officials and security experts who responded to the breach." These "security experts" are with CrowdStrike, a private cyber security firm hired and paid by the DNC. While reading the following chronology, it is important to bear in mind that the FBI has never examined the DNC computer network because the DNC prohibited the FBI from doing so. Also, that the FBI, under former Director Comey, not to mention President Obama and