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06:29 PM
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Today Obama Used His Executive Powers To Push Student Loan Reform
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:YaRight:MV8xNjgzMzkwXzI3ODIwODQ4X0MxM0YxMzAy] [quote:Master_Shake:MV8xNjgzMzkwXzI3ODIwMzk2XzlGN0NBRkE5] [quote:Jake101:MV8xNjgzMzkwXzI3ODIwMTc4X0U1QzM3QjRF] You're an idiot, and I'm glad you have to pay to banks for their bad decision. I hope it causes you financial hardship. Stupid people deserve to be punished. ETA: That goes for everyone so stupid as to let the banks get away with this scheme. You're all responsible. [/quote] There is no need for personal attacks, this is an internet forum, people can have differences of opinion. You both have made valid points. I agree with Mooshi that people are ultimately responsible for their actions, no one forces a person to get a loan or spend money that they do not have. I also agree with you in that the system is flawed. Banks where rewarded and bailed out at taxpayer expenses, that should have never happened. I do not understand your statement that "everyone so stupid as to let the banks get away with this scheme". How could we, the American people do anything to change this. Under the last two administrations, our government failed us by handing out bailout money like it was halloween candy. And to make a comment like "I hope it causes you financial hardship. Stupid people deserve to be punished." Why should you, me, or anyone be punished for the the mistake of others? [/quote] thats two of us...Mooshi is right on [/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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