Discussion: Obama To Use Executive Actions To Address Student Loans

Discussion for article #223653

Time for GOP heads to explode. They will accuse him of behaving like a dictator/king, take your pick.[quote=“system11111, post:1, topic:5095, full:true”]
Discussion for article #223653
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Mr. President, I have a better idea: forgive the students all their debt, and give them all fat bonuses for participating.

And then make like it never happened. It’s worked before.

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Forgive every dime of the debt and watch that money flood back into the economy. I know several already who, if they weren’t saddled with servicing all that debt, would be buying houses.

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When TEAM-Republican-controlled-Congress, refuses to work, someone has to do the JOB. Student loans and the crime of BIG BUSINESS making BIG-MONEY at the expense of our KIDS…HAS GOT TO STOP. It’s a horrible crime to charge the high interest they’re charging our young people. I am so glad he is doing something about it…BOUT F’G TIME.

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Many of the state legislatures could do a whole lot right away about tuition costs by setting limits on college fees and administrator salaries.

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Go, Obama! More of the same! Soon!

Just look at the inordinate inflation of Administrators’ salaries at universities and colleges and you will see what a massive ripoff student loans have been.

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We sometimes forgive the debts of small foreign Nations. (Rightly so,) The only “reason” we “cannot” forgive student loans is that a small group of greedy people are becoming even more wealthy milking unfair profits from people in their own nation who are least able to pay them. If we can forgive foreign nations, why not people in our own?
Because the greedy ones raking in the bucks will bawl like lil’ children who have had their favorite toy taken away from them. That’s why.
I’m struck by the fact that if this were wartime, and the education of people was considered a matter of the “National Security” people who rake students with outrageous loan rates would be war profiteers. Our problem as a Nation is that we are still equating weaponry alone with the security and prosperity of our Nation. Education can be, and has been the best guardian of National security.
But there are too many big greedy people, and too many small pusillanimous political hacks at any and every level of “Government” for anything as common sense as loan forgiveness to take place. This is quite simply because the people who make these usurious loans not only “own” the money being loaned, They own the political hacks too. Isn’t American “democracy” wonderful?

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I’ve raised the issue of Bergdahl being mentally ill. Not you too, I hope?!!

Forgive every dime of the debt and watch that money flood back into the economy.

I wouldn’t support that at all, but giving some relief as proposed will indeed be a help to consumption and the economy.

I’m curious as to why “you wouldn’t support that at all”? Are you usually in full favor of usury? This mess is no longer about honest people giving honest loans and expecting honest repayments. Student loans are being bought and sold for profit, just like the default credit swaps and home mortgage loans that crashed the economy the first time in 2008-2009.
The very moment these loans transmogrified into instruments of extortion, and beyond the controls of things like bankruptcy laws and regulation in general, they ceased to be a “business venture” and have become an instrument of crime. Yes, let’s use the real word for what the “Student loan Industry” has become. Loan sharking has never been legal. It should not be legal now, no matter how much paperwork or bureaucracy you dress it up in to look like something legal.
Let’s craft new methods of repayment. Thru public service, charitable work and other outlets. And where circumstances warrant, like where people (in school and out) have to choose between loan payments and say, eating regularly, let’s just forgive the loans outright. But first and foremost, let’s take away the ability of the greedy to turn opportunity for some into misery for so many. Let’s hear what you would do.

You’re always good at raising issues Overreach but you might want to try providing some content. It’s known as an educated post.