Obama college loan plan aims at an old voting bloc, page 1

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Topic started on 26-10-2011 @ 06:53 AM by haarvik

Obama Targeting Voting Bloc

Absolutely disgusting how this man uses his office to try and buy his votes. He can't do it on his own merit, so he comes up with ways to influence the people who voted for him, but are no longer supportive. I hope people see through this and continue to support alternative candidates.

reply posted on 26-10-2011 @ 06:58 AM by The Sword

reply to post by haarvik

News Flash: He's a politician. They do stuff like this.

Why haven't you actually commented on the story instead of just posting a link and what passes for your opinion?

reply posted on 26-10-2011 @ 06:59 AM by watcher3339

reply to post by haarvik

I have mixed feelings on this one. I certainly believe that people should pay their bills, and, given the state of the economy I can certainly understand fresh grads feeling that they got the short end of the stick. However, kids taking out these huge loans seem to be unaware of the real implications of doing so.

I am still paying back my grad school loan so I feel the pain, but, we need more jobs not loan modification.
The kids should be given an extended no pay window though until the economy improves.

And colleges should stop charging so much, who are they paying? Not the increasing number of adjunct faculty members who make peanuts for teaching an increasing number of classes at many colleges and universities.

Honestly, while I believe everyone who wants to go to college should be encouraged to do so, we need more manufacturing jobs and fewer college degrees in this country. Get that equation rebalanced and life will look better.

reply posted on 26-10-2011 @ 07:18 AM by haarvik

If you read between the lines, he only did this to regain that voting bloc. Had OWS not happened, he would not have done this. He is trying to appease his voting base due to his failure as a leader carrying him through the next election. He is playing the 1% game. This amounts to little more than bribery to get votes.

reply posted on 26-10-2011 @ 09:45 AM by xuenchen

The same game of only targeting a segment of the population.

It seems most legislation is like that.

The vast majority gets a negative impact.

and even this seems to ignor many borrowers?

The White House said Obama will use his executive authority to provide student loan relief in two ways.

First, he will accelerate a measure passed by Congress that reduces the maximum repayment on student loans from 15 percent of discretionary income annually to 10 percent. The White House wants it to go into effect in 2012, instead of 2014. In addition, the White House says the remaining debt would be forgiven after 20 years, instead of 25. About 1.6 million borrowers could be affected.

Second, he will allow borrowers who have a loan from the Federal Family Education Loan Program and a direct loan from the government to consolidate them into one loan. The consolidated loan would carry an interest rate of up to a half percentage point less than before. This could affect 5.8 million more borrowers.....

Today, there are 23 million borrowers with $490 billion in loans under the Federal Family Education Loan Program. Last year, the Education Department made $102.2 billion in direct loans to 11.5 million recipients.

reply posted on 26-10-2011 @ 10:21 AM by netwarrior

this is the equivalent of putting a dollar-store brand band-aid on a sucking chest wound.

Nothing else to be said. 2nd.

reply posted on 26-10-2011 @ 04:18 PM by jibeho

The student loans are NOT the problem. Blame the colleges!!! Funny, that no one wants to tackle the skyrocketing college tuition rates in this country. How can colleges continually jack up tuition rates from 4 to 10 % every year? What is the rationale behind the increases? My alma mater is turning away applicants, building new dorms, tearing down dorms and building new academic buildings like wildfire. Since I graduated from there in 1994 tuition has more than doubled nearly tripled,.

Tuition skyrockets to the point where working multiple part time jobs as a full time student won't even earn you enough to make a dent in your tuition.

Obama is just throwing a band aid on a festering wound that is about to turn green. He is not solving the problem. He is just appeasing long enough to earn a vote.

Tuition is skyrocketing under the watchful eye of the Obama administration

The numbers don't lie and are quite mind numbing when compared to inflation rates and general spikes in the average cost of living.

Here is your problem once again! Twice the core rate of inflation.

Tuition and fees at public four-year colleges and universities jumped 8.3 percent nationwide for the 2011-2012 school year, the organization said. The numbers were skewed by California, which raised in-state tuition and fees by a whopping 21 percent this year. But even without California, costs rose seven percent, according to the College Board’s annual “Trends in College Pricing” report released on Wednesday.

“State budgets are still tight, and states are appropriating less money per student than they were a year ago—much less than they were after adjusting for inflation a decade ago,” said Sandy Baum, an independent policy analyst for the College Board.

Private, non-profit colleges raised prices as well according to the report, but not nearly as much as their budget-strapped public counterparts. Tuition and fees rose 4.5 percent, which is still more than twice the core rate of inflation.

www.cnbc.com...

Please share this with Obama and anyone else who thinks his latest scheme and congressional sidestep is a good idea. The student loan bubble will burst just like the mortgage bubble did. All with the help of your interfering government.

edit on 26-10-2011 by jibeho because: (no reason given)

reply posted on 26-10-2011 @ 05:20 PM by neo96

Anything the government touches it destroy's when will people figure this out ever single government backed programs is screwed.

Yes this is pandering buying vote's that generation was the one who elected them in the first place and now he is counting on their ignorance.

Pick any group and the only thing he has done is try to buy them.

I am not for sale wish more people would wake up to that as well.

edit on 26-10-2011 by neo96 because: (no reason given)

reply posted on 26-10-2011 @ 05:26 PM by jibeho

reply to post by neo96

Hey, go easy on the integrity thing

You're speaking an ever increasing foreign language around here lately.

reply posted on 27-10-2011 @ 01:34 AM by Vikus

Originally posted by jibeho
Please share this with Obama and anyone else who thinks his latest scheme and congressional sidestep is a good idea. The student loan bubble will burst just like the mortgage bubble did. All with the help of your interfering government.
edit on 26-10-2011 by jibeho because: (no reason given)

The Federal Reserve banking bubble will probably give us massive hyperinflation first. Once that happens, student loans payments that need to be paid back in inflated dollars will be super easy to pay back. Unfortunately this also would mean that a loaf of bread would be far less affordable than paying off a student loan....

reply posted on 27-10-2011 @ 02:00 AM by The Sword

Reply to post by neo96

This isn't true at all.

But why should anyone attempt to inject common sense into the usual Obama lynching that happens on here?

ALL politicians buy votes. Get that through your heads, folks.

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