Obama's college tuition plan to cost $60 billion over 10 years

[rdean]

Obama s college tuition plan to cost 60 billion over 10 years TheHill

President Obama’s plan to offer free community college tuition now has a price tag: $60 billion over the next decade, the White House said Friday.

"That is a significant investment, but it's one the president believes is worthwhile because we need to make sure that America's young people are getting the skills they need to succeed in the 21st century economy,” White House spokesman Eric Schultz said.

Student Loan Reform in Health Bill Would Save More Than 60 Billion and Invest in Access to College mdash Center on Budget and Policy Priorities

Under the proposal, the federal government — which now pays banks generous subsidies to provide a large share of taxpayer-subsidized student loans — would instead provide all such loans directly. This change would generate more than $60 billion in savings between 2010 and 2020, according to the Congressional Budget Office (CBO), much of which would go to protecting and expanding Pell Grants to help low- and moderate-income students afford college. While critics have branded the proposed changes in student loans a “government takeover” and claimed it would cost jobs, both claims are inaccurate.

-----------------------------------------------

See that? Under Bush, Republicans were paying banks 60 billion over 10 years to run the Student Loan program. For the same cost, Students would get an education without being saddled with huge debt. And what did the banks do with the money? Bought GOP politicians so they could change laws, bring down the economy and make lots of money. And this is what low IQ GOP are fighting for. Typical.

 

[Asclepias]

Obama s college tuition plan to cost 60 billion over 10 years TheHill

President Obama’s plan to offer free community college tuition now has a price tag: $60 billion over the next decade, the White House said Friday.

"That is a significant investment, but it's one the president believes is worthwhile because we need to make sure that America's young people are getting the skills they need to succeed in the 21st century economy,” White House spokesman Eric Schultz said.

Student Loan Reform in Health Bill Would Save More Than 60 Billion and Invest in Access to College mdash Center on Budget and Policy Priorities

Under the proposal, the federal government — which now pays banks generous subsidies to provide a large share of taxpayer-subsidized student loans — would instead provide all such loans directly. This change would generate more than $60 billion in savings between 2010 and 2020, according to the Congressional Budget Office (CBO), much of which would go to protecting and expanding Pell Grants to help low- and moderate-income students afford college. While critics have branded the proposed changes in student loans a “government takeover” and claimed it would cost jobs, both claims are inaccurate.

-----------------------------------------------

See that? Under Bush, Republicans were paying banks 60 billion over 10 years to run the Student Loan program. For the same cost, Students would get an education without being saddled with huge debt. And what did the banks do with the money? Bought GOP politicians so they could change laws, bring down the economy and make lots of money. And this is what low IQ GOP are fighting for. Typical.

Minus that from our defense budget of $530 billion and no one will feel any pain.

 

[jasonnfree]

Obama s college tuition plan to cost 60 billion over 10 years TheHill

President Obama’s plan to offer free community college tuition now has a price tag: $60 billion over the next decade, the White House said Friday.

"That is a significant investment, but it's one the president believes is worthwhile because we need to make sure that America's young people are getting the skills they need to succeed in the 21st century economy,” White House spokesman Eric Schultz said.

Student Loan Reform in Health Bill Would Save More Than 60 Billion and Invest in Access to College mdash Center on Budget and Policy Priorities

Under the proposal, the federal government — which now pays banks generous subsidies to provide a large share of taxpayer-subsidized student loans — would instead provide all such loans directly. This change would generate more than $60 billion in savings between 2010 and 2020, according to the Congressional Budget Office (CBO), much of which would go to protecting and expanding Pell Grants to help low- and moderate-income students afford college. While critics have branded the proposed changes in student loans a “government takeover” and claimed it would cost jobs, both claims are inaccurate.

-----------------------------------------------

See that? Under Bush, Republicans were paying banks 60 billion over 10 years to run the Student Loan program. For the same cost, Students would get an education without being saddled with huge debt. And what did the banks do with the money? Bought GOP politicians so they could change laws, bring down the economy and make lots of money. And this is what low IQ GOP are fighting for. Typical.

Minus that from our defense budget of $530 billion and no one will feel any pain.

Republicans will scream bloody murder, communism etc.

 

[Asclepias]

Obama s college tuition plan to cost 60 billion over 10 years TheHill

President Obama’s plan to offer free community college tuition now has a price tag: $60 billion over the next decade, the White House said Friday.

"That is a significant investment, but it's one the president believes is worthwhile because we need to make sure that America's young people are getting the skills they need to succeed in the 21st century economy,” White House spokesman Eric Schultz said.

Student Loan Reform in Health Bill Would Save More Than 60 Billion and Invest in Access to College mdash Center on Budget and Policy Priorities

Under the proposal, the federal government — which now pays banks generous subsidies to provide a large share of taxpayer-subsidized student loans — would instead provide all such loans directly. This change would generate more than $60 billion in savings between 2010 and 2020, according to the Congressional Budget Office (CBO), much of which would go to protecting and expanding Pell Grants to help low- and moderate-income students afford college. While critics have branded the proposed changes in student loans a “government takeover” and claimed it would cost jobs, both claims are inaccurate.

-----------------------------------------------

See that? Under Bush, Republicans were paying banks 60 billion over 10 years to run the Student Loan program. For the same cost, Students would get an education without being saddled with huge debt. And what did the banks do with the money? Bought GOP politicians so they could change laws, bring down the economy and make lots of money. And this is what low IQ GOP are fighting for. Typical.

Minus that from our defense budget of $530 billion and no one will feel any pain.

Republicans will scream bloody murder, communism etc.

I guess we better close all those national parks and stop repairing the roads.

 

[Agit8r]

Good. It will give the GOP another opportunity to show how unAmerican they are:

"the preservation of the means of knowledge among the lowest ranks, is of more importance to the public than all the property of all the rich men in the country."
-- John Adams; from 'A Dissertation on the Canon and Feudal Law' (1765)

-

 

[Manonthestreet]

You do realize under Obamas student loan program debt is off the charts....

 

[Manonthestreet]

Thanks to climbing tuition and inadequate college savings, 40 million Americans now have at least one outstanding student loan, according to new analysis from credit bureau Experian. That's up from 29 million consumers in 2008.

On average, borrowers are carrying roughly four student loans each, up from less than three in 2008. Meanwhile, the average balance has increased to $29,000 from $23,000.

Related: I'm 57 and owe $152,000 in student loans

That has helped to push nationwide student loan debt to an all-time record of $1.2 trillion, an 84% jump since the recession. 40 million Americans now have student loan debt - Sep. 10 2014

 

[Old Rocks]

For sure the 'Conservatives' are going to fight this. Imagine having Americans become technically and scientifically educated without owing the firstborn to the banks! We cannot allow that, how Un-American!

 

[CrusaderFrank]

Let Obama fund it from his own pocket

 

[Roadrunner]

Thanks to climbing tuition and inadequate college savings, 40 million Americans now have at least one outstanding student loan, according to new analysis from credit bureau Experian. That's up from 29 million consumers in 2008.

On average, borrowers are carrying roughly four student loans each, up from less than three in 2008. Meanwhile, the average balance has increased to $29,000 from $23,000.

Related: I'm 57 and owe $152,000 in student loans

That has helped to push nationwide student loan debt to an all-time record of $1.2 trillion, an 84% jump since the recession. 40 million Americans now have student loan debt - Sep. 10 2014

You must have partied and vacationed HARD in college.

How much of your debt went to tuition and books, and how much to luxury dorm rooms and partying?

 

[CrusaderFrank]

For sure the 'Conservatives' are going to fight this. Imagine having Americans become technically and scientifically educated without owing the firstborn to the banks! We cannot allow that, how Un-American!

Who gets this "Free education", the imbeciles that "Graduate" from Democrat big city high schools without even knowing how to read or write?

 

[konradv]

Who gets this "Free education", the imbeciles that "Graduate" from Democrat big city high schools without even knowing how to read or write?

No one deserves a free education except those who can play football or basketball regardless of their reading level, as long as that "education" is all they expect. The millions made are needed by the schools because often the highest paid public employee in the state is the state university's football or basketball coach. /sarcasm

 

[Manonthestreet]

Thanks to climbing tuition and inadequate college savings, 40 million Americans now have at least one outstanding student loan, according to new analysis from credit bureau Experian. That's up from 29 million consumers in 2008.

On average, borrowers are carrying roughly four student loans each, up from less than three in 2008. Meanwhile, the average balance has increased to $29,000 from $23,000.

Related: I'm 57 and owe $152,000 in student loans

That has helped to push nationwide student loan debt to an all-time record of $1.2 trillion, an 84% jump since the recession. 40 million Americans now have student loan debt - Sep. 10 2014

You must have partied and vacationed HARD in college.

How much of your debt went to tuition and books, and how much to luxury dorm rooms and partying?

dont have any.........that was a related article.........if libs are against "enslaving " people to the big banks, why are they doing it? Isnt the answer to cut the cost , not pawn same huge cost on govt ? you are still enslaving people with added govt debt.

 

[rdean]

Obama s college tuition plan to cost 60 billion over 10 years TheHill

President Obama’s plan to offer free community college tuition now has a price tag: $60 billion over the next decade, the White House said Friday.

"That is a significant investment, but it's one the president believes is worthwhile because we need to make sure that America's young people are getting the skills they need to succeed in the 21st century economy,” White House spokesman Eric Schultz said.

Student Loan Reform in Health Bill Would Save More Than 60 Billion and Invest in Access to College mdash Center on Budget and Policy Priorities

Under the proposal, the federal government — which now pays banks generous subsidies to provide a large share of taxpayer-subsidized student loans — would instead provide all such loans directly. This change would generate more than $60 billion in savings between 2010 and 2020, according to the Congressional Budget Office (CBO), much of which would go to protecting and expanding Pell Grants to help low- and moderate-income students afford college. While critics have branded the proposed changes in student loans a “government takeover” and claimed it would cost jobs, both claims are inaccurate.

-----------------------------------------------

See that? Under Bush, Republicans were paying banks 60 billion over 10 years to run the Student Loan program. For the same cost, Students would get an education without being saddled with huge debt. And what did the banks do with the money? Bought GOP politicians so they could change laws, bring down the economy and make lots of money. And this is what low IQ GOP are fighting for. Typical.

Minus that from our defense budget of $530 billion and no one will feel any pain.

All we had to do was stop giving it to the banks for free.

Why do Republicans love the banks so much?

 

[rdean]

Good. It will give the GOP another opportunity to show how unAmerican they are:

"the preservation of the means of knowledge among the lowest ranks, is of more importance to the public than all the property of all the rich men in the country."
-- John Adams; from 'A Dissertation on the Canon and Feudal Law' (1765)

-

You wisely pointed out:
"the preservation of the means of knowledge among the lowest ranks, is of more importance to the public than all the property of all the rich men in the country."
-- John Adams; from 'A Dissertation on the Canon and Feudal Law' (1765)

Why do Republicans put rich men above all else? Their Jesus didn't.

 

[squeeze berry]

Good. It will give the GOP another opportunity to show how unAmerican they are:

"the preservation of the means of knowledge among the lowest ranks, is of more importance to the public than all the property of all the rich men in the country."
-- John Adams; from 'A Dissertation on the Canon and Feudal Law' (1765)

-

You wisely pointed out:
"the preservation of the means of knowledge among the lowest ranks, is of more importance to the public than all the property of all the rich men in the country."
-- John Adams; from 'A Dissertation on the Canon and Feudal Law' (1765)

Why do Republicans put rich men above all else? Their Jesus didn't.

why do dems want to give away some one else's hard earned money to someone that didn't work for it?