Government announces $108 billion BAIL-OUT for student debtors

[ShootSpeeders]

More welfare from the welfare king obozo. More money taken from responsible people and given to a bunch of idiots who borrowed $100,000 to get a degree in Ancient Etruscan Mythology.

GAO: About $108 Billion in Student Loan Debt to be Forgiven

dec 1 2016 The federal government is expected to forgive at least $108 billion in student loan debt as part of popular plans that tie repayment to borrowers' earnings, congressional investigators said Wednesday.

The Government Accountability Office reviewed income-driven repayment plans the government offers to students struggling to pay back federal student loans. The report, which was highly critical of the Education Department's budget estimates for the programs, said $29 billion more will be discharged due to death or disability. About 5.3 million borrowers carrying some $355 billion in loans are part of the repayment plans.

The plans set monthly payments as a percentage of a borrower's income and extend repayment from the standard 10 years to up to 25 years. After that, remaining balances are forgiven. They've grown increasingly popular and the Obama administration has encouraged borrowers to consider them, setting up a website, www.StudentLoans.gov/Repay , in April.

 

[HereWeGoAgain]

What a bunch of bullshit!!
I certainly hope Trump can put a stop to this shit.

 

[Vastator]

What a bunch of bullshit!!
I certainly hope Trump can put a stop to this shit.

Me too.

 

[ShootSpeeders]

This bailout will just encourage more students who do have plenty of money, to NOT pay their student debt. Once you start the bailout process, it encourages even the wealthy to claim they are struggling.

 

[Vastator]

That filthy shitskin will do as much damage on his way out as he possibly can.

 

[ShootSpeeders]

I oppose all student loan bailouts but if we are going to have them, it should only be for kids who got a degree in a STEM field since they at least had to work for their degree and have a chance at getting a good job. But hell with the liberal arts majors. They just partied for 4 years and now they insist the rest of us pay for it.

 

[HereWeGoAgain]

Student loans should not be given unless the major is in a needed category.
No underwater basket weaving unless you want to pay for it yourself.

 

[ShootSpeeders]

[

Student loans should not be given unless the major is in a needed category.
No underwater basket weaving unless you want to pay for it yourself.

Don't expect obama to agree to that Here's what wikipedia says about his college education - "Later in 1981, he transferred as a junior to Columbia College, Columbia University, in New York City, where he majored in political science with a specialty in international relations[31] and in English literature"

Liberals think crap like that makes you intelligent and deserving of some cushy job.

 

[rdean]

More welfare from the welfare king obozo. More money taken from responsible people and given to a bunch of idiots who borrowed $100,000 to get a degree in Ancient Etruscan Mythology.

GAO: About $108 Billion in Student Loan Debt to be Forgiven

dec 1 2016 The federal government is expected to forgive at least $108 billion in student loan debt as part of popular plans that tie repayment to borrowers' earnings, congressional investigators said Wednesday.

The Government Accountability Office reviewed income-driven repayment plans the government offers to students struggling to pay back federal student loans. The report, which was highly critical of the Education Department's budget estimates for the programs, said $29 billion more will be discharged due to death or disability. About 5.3 million borrowers carrying some $355 billion in loans are part of the repayment plans.

The plans set monthly payments as a percentage of a borrower's income and extend repayment from the standard 10 years to up to 25 years. After that, remaining balances are forgiven. They've grown increasingly popular and the Obama administration has encouraged borrowers to consider them, setting up a website, www.StudentLoans.gov/Repay , in April.

I couldn't find anything about a degree in Ancient Etruscan Mythology.

What University did you get yours?

 

[EverCurious]

What do you expect? Obama has 2 months to buy back the democratic party votes cause they know they're going to lose their illegal voters and possibly the dead ones as well.

 

[Claudette]

Bush the first put a stop to all Govt. funded student loans because they weren't being paid back leaving the taxpayers on the hook.

Clinton reinstated the loans and here we are. The taxpayers getting hosed again.

 

[Lewdog]

Awesome. Once I get my degree I'll go out looking for a shitty job with no pay so I can live poor and after 25 years be free of having to pay off my college loans.

 

[WillowTree]

And now you know why college tuition has skyrocketed.

 

[ShootSpeeders]

And now you know why college tuition has skyrocketed.

Yup - because the govt created this student loan program which prompted all the colleges to double tuition. Everyone saw this debt crisis coming but the politicians took their bribes from the colleges and enacted this idiocy anyway.

 

[JOSweetHeart]

This bailout will just encourage more students who do have plenty of money, to NOT pay their student debt. Once you start the bailout process, it encourages even the wealthy to claim they are struggling.

Amen to this. If one is given a break, everyone else will demand one too.

God bless you always!!!

Holly

 

[Blackrook]

There would be no need for special debt forgiveness of student loans if you could discharge a student loan in bankruptcy, and I don't see a reason why you shouldn't be allowed to do this.

 

[AvgGuyIA]

This is nothing but apeessure cooker time bomb. OButthole knows the GOP will have to vote it down.

 

[ShootSpeeders]

There would be no need for special debt forgiveness of student loans if you could discharge a student loan in bankruptcy, and I don't see a reason why you shouldn't be allowed to do this.

If students have access to bankruptcy, then no one will loan them any money.

 

[Lewdog]

There would be no need for special debt forgiveness of student loans if you could discharge a student loan in bankruptcy, and I don't see a reason why you shouldn't be allowed to do this.

Student loans are like back taxes, you can't file bankruptcy on them.

 

[MizMolly]

More welfare from the welfare king obozo. More money taken from responsible people and given to a bunch of idiots who borrowed $100,000 to get a degree in Ancient Etruscan Mythology.

GAO: About $108 Billion in Student Loan Debt to be Forgiven

dec 1 2016 The federal government is expected to forgive at least $108 billion in student loan debt as part of popular plans that tie repayment to borrowers' earnings, congressional investigators said Wednesday.

The Government Accountability Office reviewed income-driven repayment plans the government offers to students struggling to pay back federal student loans. The report, which was highly critical of the Education Department's budget estimates for the programs, said $29 billion more will be discharged due to death or disability. About 5.3 million borrowers carrying some $355 billion in loans are part of the repayment plans.

The plans set monthly payments as a percentage of a borrower's income and extend repayment from the standard 10 years to up to 25 years. After that, remaining balances are forgiven. They've grown increasingly popular and the Obama administration has encouraged borrowers to consider them, setting up a website, www.StudentLoans.gov/Repay , in April.

I would rather have people who attended college to better themselves get a break than the welfare recipients to leach off taxpayers dollars and do nothing to earn it or try to better themselves.