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06:13 PM
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Today Obama Used His Executive Powers To Push Student Loan Reform
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[quote:Jake101:MV8xNjgzMzkwXzI3ODE4Nzg0X0VENzQwNTI3] [quote:Anonymous Coward 3155832:MV8xNjgzMzkwXzI3ODE4NzU1XzJGREQ0QkZD] So in other words... Don't work today and you don't have to pay Don't work tomorrow, so you don't have to pay at all.... Just let everyone else support your sorry welfare a-z!!! [/quote] Either there is some sort of massive brainwashing I somehow wasn't effected by, or the majority of people in this thread have their eyes closed. THIS WAS A SCAM. You want to solve the problem? Stop subsidizing the banks! You're mad that you have to pay for other's educations, then you should be mad at the BANK who is making you pay for THEIR OWN mistakes. The bum borrowers aren't trying to make you pay for their loans, the BANK who made the mistake is. [/quote]
Original Message
President Obama used executive order today to push forward student loan reform that would reduce monthly payments for 1.6 million borrowers next year, accelerating the previous 2014 startup timetable.
The new “Pay As You Earn” proposal for college students lowers their monthly loan payments to 10 percent of their discretionary income. The plan
also forgives the balance of their debt after 20 years of payments
.
Full article can be read here:
[
link to ecreditdaily.com
]
So if some idiot goes to college and majors in a field that has zero chance of gainful employment, WE have to pay for their bad choices? Unfriggin believable.
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