Obama to take executive steps on student loans

news.yahoo.com/obama-executive-steps-student-loans-233611442--politics.html

Its time to try and appease all the "responsible" Americans to help sway them into a continuing false sense of security... while leading them to believe their elected officials actually care about their struggles and needs... at least temporarily.

there have been programs out there for a while that only a network of certain people hear about and pass on to friends and family

I think its reasonable to cap payments to a percentage of income,,,I think it would be even better if our educational system was actually encouraged to provide education that will foster the type of employment to allow these high costs to be repaid

tens of thousands on useless degrees that aren't going to be a useful resource for employment need to be streamlined in favor of those that will actually give the tools needed to make the income necessary to pay back the loans,,,

I agree...

A contract willingly signed, should be honored.

JMO,

I agree when the lending terms and practices are ethical and scrupulous. I have seen some sharks swimming in the water of the student loan pool....one of my sons was nearly bitten but I got there in time....kids at 17 & 18 do not fully understand the consequences of all of this borrowing, yet schools will let them sign

I sat my son down and explained that they were asking him to borrow a minimum of $80K and what those monthly payments would be....and he made another choice. no one in the school loan or admissions dept had explained any of that to him

Senate Republican leader Mitch McConnell of Kentucky in a statement criticized the Democratic bill for failing to address college costs.

"This bill doesn't make college more affordable, reduce the amount of money students will have to borrow, or do anything about the lack of jobs grads face in the Obama economy," he said.

Any lender who shells out big bucks to a kid without collateral or cosigner willing to put up thier paid off home is begging to get screwed.

it would be remarkable if they pass anything OBama suggests ,,

quite honestly, but then again, there have been similar measures passed under Obama that curbed college costs, I know someone personally ( a working person in a two income family) who had their college loan erased under one of them,,,just gotta know the 'right' folks I guess, and hope they are interested in sharing their secrets with ya,,,

but there are more well known programs for those going into either social services or education which will also forgive the loans,,,,after so many years in the field,,,,,

and to make things worse,the Kids study some outlandish Subjects,like,for instance,the Love-life of the 'Speckled Guinean Jungle-Ant',then wonder why they can't find any meaningful Jobs with those Degrees,enabling them to pay back those Loans!

Certainly, that could happen in a public university.

Or simply,what Subjects allow you to qualify for a Student-Loan!

My thinking on the subject has to do with someone I know who is a true bleeding heart liberal that thinks all student loans should be forgiven. She got her BA in History after a number of years as basically a professional student. The reason for the History degree was because she didn't like math and the hardest course for that degree was Algebra. She had to take the Algebra class 3 times to finally pass it. Then she went on to get her Masters in History just so she could come back to this area and work as a blackjack dealer. There aren't many calls for History degrees in this area without a teaching endorsement and she doesn't want to teach. So basically this professional student who racked up tens of thousands of dollars in student loans for a degree that she will never use wants the loans forgiven all due to a fear of math at a level higher than Algebra.

Now as far as the payback options, folks can go to the government's student loan website and get info for all of the payment options. They can also find out about the different forgiveness programs for the different career choices. Even a lot of the guaranty companies let people know about the repayment options because a lot of the loans are backed by the government and they will get their money when it comes down to it.

I owed a measly sum to the State of WA.

I couldn't qualify for a VISA as long as I was flagged.

wow! it's a good thing you were there to help...

Not being allowed to buy a home until the student loan is paid off? That's way too much of government and big business controlling the way we live. IMO.

I owed a pittance from a stint in college I did back in 1987. I didn't even know that I owed the money until it was taken out of my husband's tax refund in 1999. We weren't even acquainted all those years ago but the government held him liable for my previous debt.

I owed a small amount after graduation and they "came after me". I explained that I was taking grad courses and they backed off. I paid it back rather quickly.

A main point is when the government made huge sums available for student loans, the cost of education shot through the roof. The schools saw the supply of money and increased all their costs accordingly.

College professors didn't use to make a lot of money but they do now.