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Approximately 7.4 million students will rack up an additional $1,000 in debt if Congress doesn't stop the interest rate on federal student loans from doubling on July 1. http://whitehouse.gov/double
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Charlie Dulin's profile photoDennis Griess's profile photoRamona Simmons's profile photoRon Khare's profile photo
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I agree with Brad....except for the Ron Paul support. I like (some of) his foreign policy, but his domestic policy is a little extreme, shall we say, for my taste. His disdaine for the EPA is a perfect example. Before the EPA we had burning rivers, do we really want to go back to that? "Industry knows best" my arse!
 
+Christopher Rush Uhhh there is nothing more romantic than the warm glow of a river fire and the gentle roar of its fishes as they attack boats and kill local wildlife.
 
That's right. Let's write some more bounced checks for education and we will have the smartest kids in the world. Seriously? You think money is the problem?
 
Exactly why I'm trying to pay for my education in CASH.
 
Eight comments and I already had two of them blocked and I'm blocking the Iranian.

Student financing paybacks need to be directly tied to income and the universities income. If a school is turning out a bunch of people whose skills don't pay bills they need to be shut out. If you turn out to be the next Google founder after graduating from "State" maybe you should be kicking back a percent or two to your institution of higher learning.

+Jill Star Don't just link that post the headline in your post. You can do it on edit.
 
I agree that we could be putting more into education, but the least we could do is to not take money out.

As high as unemployment is now, there are industries that are incredibly understaffed and have a desperate need to hire qualified people. On top of that, it gives would be entrepreneurs the tools and know how to start their own business, and gives people coming out of faltering industries (like housing or newsprint) an opportunity to learn something new. Investing in education simply puts people back to work in a tough economy.

Of course this is in addition to the long term benefits of companies hiring American workers instead of overseas workers because they are the best and the brightest, and reducing the long-term debt so graduates can purchase a house, car or other economically stimulating item.

By the way, how is hiking up the interest rate on student loans any different than hiking up taxes, which the Republicans keep saying should never be done in a struggling economy?
 
Post-secondary educations are/have always been trade schools. If we define that trade as being a good citizen, leader or statesmen then a liberal arts curriculum is still justified as it was when such education was reserved for the second or third sons of the nobility and clergy.

Anybody who doesn't think art and literature isn't political clearly isn't paying attention.
 
There needs to be much discussion on this; U.S. cannot afford to just "forgive" the debt. Once the Economy improves, the American people start working - the debt be repaid by the borrowers not another Bail out.
 
The Fed "printed" $7 Trillion and lent it to the banks at effectively zero interest. That makes anything they earn loaning that money out "free money." Why can't we just forgive student loans again?
 
let's see... 7.4 million college students x approx $ 24 000 in loans. that's A LOT! of money. wonder who gets to pay for that? i know i know.. i troll, i troll and the savvy wiseguys don't have to listen to some arrogant bcth who thinks she knows what she's yappin about. (btw, $1,776 billion, peanuts
 
If we had Jobs that this administration is Not supporting; then the loans could be re-paid by borrower. I honestly hate the fact there is not as many high paying jobs as during the previous administrations. If there were less restrictions on corporations & small businesses, this country would be so much better off. For example, the Coal industry has been deliberately trampled - all because B.O. wants green energy. Open up all exploration, oil, natural gas, coal, solar, wind & nuclear. There's you a job...
 
I'm $80,000 deep with student loans. Why do we have an interest rate in the first place?
 
+Angie Blankenship Sure, and the oil industry got trampled just because Deepwater Horizon dumped massive amounts of oil on the beach. The Ag. industry got trampled because climate change fried Texas, Oklahoma and Kansas to a crisp. The textiles industry got trampled because they were no longer allowed to use child labor. Nasty regulations; who needs 'em. /s
 
+Ron Khare For the $80,000 you obligated yourself to repay plus interest, you might have stayed awake in economics class.
 
John, for one the child labor laws have been gone for many a year & no one is saying turn all reg's loose; typical Democrat response. Also, the oil spill down here was yes a tragedy - does that mean that you won't board a plane cause one crashed?
 
$1000 dollars debt would be nothing if they could actually find a job.
 
Newt Gingrich, no less, proposed weakening child labor laws. Seriously though, is the GOP trying to equate the Deepwater Horizon spill to a single plane crash? That's like claiming mountaintop removal coal mining is no more damaging than cutting a cord of wood.
 
Interesting comments. As for those that feel there are too many college students and our labor industry will hurt for it try to feed yourself and put a roof over your head and cover any unforeseen events(health ins.etc.) not to mention the need for transportation and its costs. If you think a person can support themselves on a laborers income, get your head out of your asses.
 
Banks, sh#t, how about student loans with 0% interest, these people are the future of this country, shackle them for life while setting bankers free is ludicrous.
 
I'd like to point out that unless the 25-35 year old age bracket starts buying houses quick the housing market will go into a power dive with state and local governments funded by property taxes sucked into the slipstream.

This isn't just about whether some art history graduate gets a free ride. This is about whether or not the streets are paved, the schools have teachers and there's somebody manning the local fire station.
 
Driving a tractor? How about cutting grass, is that against the child labor law? Newt merely says people need to work for their keep while in school, Not by putting them on construction sites or in coal mines. You want another housing bubble, where anyone can buy a house whether than can pay for it or not???
 
There are pro's & con's to mountain top coal removal true, however Horsepen Mountain in southern West Virginia now has been benefited with level land for a top of the line high school & not to mention a top rated 18 hole golf course which would not have been available had it not been for the coal removal. Not to mention the coal & jobs supplied while mining this mountain. The fact is, this country is rich in resources & this administration will not allow it to be used in fear of not getting a vote from you.
 
Well we've got our representative for Pave The Planet here; anybody else want to go totally off topic and comment about ways to pollute, destroy water quality and eliminate worker safety?
 
"Starting salary" What a joke, without training in anything you can't start with any more than minimum wage. If your lucky you might even get at least 30 hours a week to start, no guarantee. Try surviving at minimum wage for less than 100 hours a week.
 
+John Splater Give yourself a pat on the back. Those of us who live in "reality" are trying to solve a few problems.
 
Since when do they Pave Golf courses??? Also, that school's parking lot is paved, but on the most part there is plenty Green there. Beautiful views too, not like looking at all the pavement there in California, that is when you can See it for all the Smog.
 
Mr john splatter is such an accomplished person. Obama 2012 regardless
 
+Ruben Orduz you do know that the President can't veto anything that hasn't been passed by Congress, right? However, I have to admit that if he signed such a thing into law, I'd pack my bags and move over to the Republican camp out of spite... but I won't judge him unless he does actually sign it... until then, I'll just wait and see.
 
First it was scaring people about $40 a month, now its $1,000 over a lifetime. How petty does he think people are?
 
+Aaron Sherman It has already passed the house and is headed for the senate next. Fortunately the president has already threatened to veto it when it reaches his desk. Lets hope he does and we don't have another NDAA shenanigan with "serious reservations".
 
Forgiving student loans would actually help them with their earning potential and they could buy stuff? In a way, it's correct.. if we forgive student loans, they buy stuff for themselves, while we pay for their education. Then they default on their expensive cars and expect another bailout. If they don't learn to work hard and be responsible, they will not be people who will improve the economy... I worked a full-time job and went to school at night, then stayed up through the middle of the night in order to get my degree.
 
My son is about to graduate with a Biology degree, debt free. Yes it can be done but I'm not going to say it was easy or fun. He worked and went part time for a few years then quit to focus on school. That said I think an unmentioned part of the problem is we tell our kids that education is worth the investment and then watch as they get degrees in fields that will not pay them enough to have a life and still pay the student loans.
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most cant find jobs so they go back to school and get more dedt but its all cool ,no job but lower interest rate on loan yea obama
 
I'm all for keeping the interest rates low, which both Obama and Romney support.. You think calling me names strengthens your argument? I've seen some of my classmates playing World of Warcraft in class on the laptop purchased from student loans.. will it help them if we forgive their loans? Aren't they going to work harder if they know they have to pay it back? And isn't the economy recovering faster if people work harder?
 
Failed economics too did we? The economy recovers faster if people earn more wages. Working harder when the benefits of increased productivity go to the top 1% just makes you a chump. Mitt Romney made piles of money demanding employees work harder i.e. lowering their real wages and then liquidating those same companies. Too damn bad if the people who worked harder are now unemployed.
 
the formerly great Britain has had the Pubs` policies since the Torries came to power. The C E 0 s can tank up while the rest can tank out. Gr Br`s economy was barely growing under the Labourites: Now it might just have a bigger number, in the opposite direction. I whole heartedly suggest that "1776" (musical) song 'Hossannah' - the theme of the Conservatives ["Torries"] be given a listen. "Know thy opposition!"
 
John Dickinson: Mr. Hancock, you're a man of property, one of us. Why don't you join us in our minuet? Why do you persist on dancing with John Adams? Good Lord, sir, you don't even like him!
Hancock: That is true, he annoys me quite a lot, but still I'd rather trot to Mr. Adams' new gavotte
John Dickinson: But why? For personal glory, for a place in history? Be careful, sir, history will brand him and his followers as traitors.
Hancock: Traitors, Mr. Dickinson? To what? The British crown, or the British half-crown? Fortunately there are not enough men of property in America to dictate policy
John Dickinson: Perhaps not. But don't forget that most men without property would rather protect the possibility of becoming rich, than face the reality of being poor.
 
Congress make interest rates not increase, I'd like to see that.
 
You folks might want to look into 529 plans.
 
I know that after we gave a massive bailout to the bankers, forgiving student loans would be a few drops in the bucket. For those who are struggling, it might be a great relief, and I get no enjoyment from seeing people struggle. I also know that the economy recovers if people earn more; however, usually working hard and earning more goes hand in hand. You may want to see students being able to buy things, but have you thought about the reduced buying power of everyone else who has to pay for the forgiven loans? Aren't we going to borrow it again from China and a pay it back with interest?
 
+Alexander Szabo You may be right that it would be a great relief if people had all of that debt lifted off their shoulders. If people got an extra $300-$1000 extra spending money every month because they didn't have loans to pay off they might do something good with that money like put it in an IRA or HSA or even payoff more of their mortgage each month.

Then again they might just blow it all on a bigger apartment or a second car. Then how much better off are they? That's the tricky thing with this economy, people are unpredictable and often act irrationally.
 
shouldn't forgive the loans... give them money to pay the loan off. then the money is available to loan to someone else.
 
I know this whole 'forgive the loans' idea is a bummer to those who hustled hard to repay loans (I'm repaying mine now, thankfully employed). You have to remember though - the idea here is to revive our struggling economy. It's not just some random, misguided attempt to 'do right by the student'. Relieving young adults from debt would yield a more immediate increase in spending and entrepreneurial risk-taking (a large part of what makes the U.S. great) than any other idea I've heard.

That being said, I don't want to see a blanket bailout. How about a government-run refinancing of all student loan debt? No payments for a year, 0% interest after that. Minimum payment required would be tied to your level of income. Thoughts? The Fed could even 'encourage' banks to help w/ fronting the cash.
 
Also...to hell w/ this tiny column of text. Google, can we at least talk about a 'revert to old look' option? Please?
 
What about the fact that we can no longer write off the interest on our taxes starting 2013? Take care of that one, would you?
 
Jason Kalka i know what i said if if i wrote it rather inartfully. If the loan is forgiven that means it is not paid back. the bank is simply not paid. the money the bank would have made on the loan is not available to loan to anyone else. offer to repay the loans for them in return for something- a low paying job in the federal bureaucracy for two years, two years in the peace corps, two years as low paid teachers, doctors etc in poor communities in the US - and the money is circulated back in the economy and can be used by the banks to make further loans.
 
So where does that money come from +Charlie Dulin ? I'm supposed to pay someone else's student loans off with my tax dollars? What's next credit card bills? Mortgages? Business debt? No thanks, I have a hard enough time paying for my own stuff let alone someone else's bills.
 
My opinion the united states should be worrying about are debt that we owe i understand that there more other things that needs to be work on but if we keep saying that we gonna get the job done but we fail at trying to do then what are we setting for are self an even the next generation that going to take are place in the next era of life
 
there is always, hope. because always it will come better future.
 
hope you say how are we suppose to have hope if we this big debt just sitting by us an nothing but getting bigger an bigger until we can't handle it no more we need to relieve are debt so that it makes it look good on the USA then the economy it self should start to fall into it if we can at least get that number down it would make it better for the USA
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