Along with almost everyone else of course. Pell grants whacked, Stafford loans subsidies lost, Obama's generous pay-as-you-earn program whacked. Anybody with student loans who votes GOP deserves what they get. I feel sorry for the rest of them though, along with people who might be dissuaded from ever going to college if the GOP gets their way.

All for $60 billion. And remember, 2 years ago they opposed raising taxes on billionaires because they thought $60 billion wouldn't be worth it. That was literally their argument.


http://www.mainstreet.com/article/staffo...ping-block

Quote:NEW YORK (MainStreet) — First Pell Grants got whacked. Now it's Stafford loans.

The Pell spending freeze that appeared in the Republican's budget blueprint on Tuesday would cap the max Pell Grant for ten years and roll back recent expansions of the program. Some student advocates thought the worst was over. But tucked into it was a plan to wipe out Stafford loans' in-school subsidy, reverse a roll back an expansion of income-based repayment of these loans and call a halt to the forgiveness of loans made by the Department of Education (ED).

These changes would save taxpayers more than $60 billion during a 10-year period based on the budget estimates. But they would also make student loans more expensive for borrowers--who are themselves future taxpayers--and leave them with less disposable income to put back into the economy.

Interest on subsidized Stafford loans doesn't currently accrue as long as the borrower stays in school. These subsidized loans are available to undergrads from low- and moderate-income families. About half of the Stafford loan volume to undergraduates last year was in the form of subsidized loans.

"The House plan makes college even less affordable by not only forcing needy students to borrow more and raising their cost of borrowing, but also by making it harder for student to repay their loans," said Pauline Abernathy, vice president of The Institute for College Access and Success (TICAS), based in Oakland. "For new borrowers after July 1, 2016, it eliminates Pay As You Earn and a related plan, both of which cap monthly payments at 10% of discretionary income and discharge any debt remaining after 20 years of payments."

(03-24-2015 06:28 PM)Max Power Wrote:  Along with almost everyone else of course. Pell grants whacked, Stafford loans subsidies lost, Obama's generous pay-as-you-earn program whacked. Anybody with student loans who votes GOP deserves what they get. I feel sorry for the rest of them though, along with people who might be dissuaded from ever going to college if the GOP gets their way.

All for $60 billion. And remember, 2 years ago they opposed raising taxes on billionaires because they thought $60 billion wouldn't be worth it. That was literally their argument.


http://www.mainstreet.com/article/staffo...ping-block

Quote:NEW YORK (MainStreet) — First Pell Grants got whacked. Now it's Stafford loans.

The Pell spending freeze that appeared in the Republican's budget blueprint on Tuesday would cap the max Pell Grant for ten years and roll back recent expansions of the program. Some student advocates thought the worst was over. But tucked into it was a plan to wipe out Stafford loans' in-school subsidy, reverse a roll back an expansion of income-based repayment of these loans and call a halt to the forgiveness of loans made by the Department of Education (ED).

These changes would save taxpayers more than $60 billion during a 10-year period based on the budget estimates. But they would also make student loans more expensive for borrowers--who are themselves future taxpayers--and leave them with less disposable income to put back into the economy.

Interest on subsidized Stafford loans doesn't currently accrue as long as the borrower stays in school. These subsidized loans are available to undergrads from low- and moderate-income families. About half of the Stafford loan volume to undergraduates last year was in the form of subsidized loans.

"The House plan makes college even less affordable by not only forcing needy students to borrow more and raising their cost of borrowing, but also by making it harder for student to repay their loans," said Pauline Abernathy, vice president of The Institute for College Access and Success (TICAS), based in Oakland. "For new borrowers after July 1, 2016, it eliminates Pay As You Earn and a related plan, both of which cap monthly payments at 10% of discretionary income and discharge any debt remaining after 20 years of payments."

That's $60 billion that we don't have. It comes from China, with strings attached.

Clearly, we need to encourage more young people to take out huge loans for college so that they can get one of the waiter/bartender jobs that the left gets orgasmic about on the first Friday of every month.

If you don't want to borrow it then tax the billionaires.

The GOP proposal not only screws over young people but hurts the economy. These are people who will be the primary drivers of our economy once they graduate, and they'll be paying down loans instead of pumping their salaries back into the US economy.

Clearly we need a less educated, more debt burdened workforce to carry us into the 21st century.

(03-24-2015 08:59 PM)Max Power Wrote:  Clearly we need a less educated, more debt burdened workforce to carry us into the 21st century.

What we need is more people on the hook with 35K loans, which they have no intention of paying, for puppetry degrees.

Quote:http://www.thenation.com/article/164348/...all-street

A few years ago, Joe Therrien, a graduate of the NYC Teaching Fellows program, was working as a full-time drama teacher at a public elementary school in New York City. Frustrated by huge class sizes, sparse resources and a disorganized bureaucracy, he set off to the University of Connecticut to get an MFA in his passion—puppetry. Three years and $35,000 in student loans later, he emerged with degree in hand, and because puppeteers aren’t exactly in high demand, he went looking for work at his old school.

By the time you're 18 years old you should understand they are taking on loans for an education and they should keep the cost as low as possible while getting a useful degree.

(03-24-2015 08:58 PM)Max Power Wrote:  If you don't want to borrow it then tax the billionaires.

The GOP proposal not only screws over young people but hurts the economy. These are people who will be the primary drivers of our economy once they graduate, and they'll be paying down loans instead of pumping their salaries back into the US economy.

Tax the billionaires? France tried that and the wealthy fled en masse.

If anyone wants to go to college, they can pay for it themselves. Go to a community college. Get a job. It can be done. Don't raise my taxes.

Way too many people go to college. The result: millions living in their parents' basement, $100k in debt, and waiting tables at Olive Garden... and the lack of a skilled workforce and a general populace that simply can't do schit. Can't make money, can't change a tire, can't fix an appliance, and need to call a plumber to unclog a J trap.

(03-24-2015 09:38 PM)EverRespect Wrote:  Way too many people go to college. The result: millions living in their parents' basement, $100k in debt, and waiting tables at Olive Garden... and the lack of a skilled workforce and a general populace that simply can't do schit. Can't make money, can't change a tire, can't fix an appliance, and need to call a plumber to unclog a J trap.

My parents live in Connecticut, which has a very high percentage of college graduates. If you want an accountant, no problem. If you want a psychologist, no problem. But if you want your roof repaired, or a deck built .... good luck finding anyone.

We need more people in trades and fewer college graduates.

(03-24-2015 08:59 PM)Max Power Wrote:  Clearly we need a less educated, more debt burdened workforce to carry us into the 21st century.

No...We need a less educated workforce involved in actually "making" stuff....Kinda like what made America the "land of opportunity". Now it is the "land of what can I can get for free".

(03-24-2015 08:59 PM)Max Power Wrote:  Clearly we need a less educated, more debt burdened workforce to carry us into the 21st century.

If less educated means fewer going to universities, then yes, that is exactly what we need. We need more people going to trade schools and learning how to operate CAD/CAM terminals so they can become productive factory workers, and fewer going to university to major in sociology so they can become Starbucks baristas.

(03-24-2015 09:38 PM)EverRespect Wrote:  Way too many people go to college. The result: millions living in their parents' basement, $100k in debt, and waiting tables at Olive Garden... and the lack of a skilled workforce and a general populace that simply can't do schit. Can't make money, can't change a tire, can't fix an appliance, and need to call a plumber to unclog a J trap.

And it makes college cost more all around.

What right do college kids have to my tax money for loans? Half of them don't even pay it back anyway. Let them borrow in the private market.

This an area where the Republicans are way out of touch with reality.

The debt the kids carry at this point are huge anchors on our economy. Forbes has already had some articles on the fact that kids are not buying houses or cars like the old days.

Grandstanding on some responsibility argument that doesn't hold water is only going to force the taxpayer to pay twice for the screwup the government itself created.

Nah. A little inflation will take care of the student loan debt, but it will raise the price of those required Obamacare premiums.

(03-25-2015 12:13 AM)HeartOfDixie Wrote:  This an area where the Republicans are way out of touch with reality.

The debt the kids carry at this point are huge anchors on our economy. Forbes has already had some articles on the fact that kids are not buying houses or cars like the old days.

Grandstanding on some responsibility argument that doesn't hold water is only going to force the taxpayer to pay twice for the screwup the government itself created.

This is debt the kids chose for themselves by going to school and getting a degree in something that won't allow them to secure a job to pay back the loan. They did it simply for the college experience. Then once in college, as opposed to choosing a decent major they instead just wanted to the easy A.

That being said, HOD is correct, the debt from school will not millennial to functionally enter the workforce. Standing on principal is going to result in a stagnation in economic growth. I know many recent graduates simply want to have a jubilee declared on their student loan debt but I think the least bad solution out their might be to allow said debt to be discharged via bankruptcy.

$60 billions doesn't even put a dent in the trillions of dollars of loans that students have been suckered into securing for Big Education. What other possible solutions do people on this board think would work?

The problem is not the loans themselves as much as that the "education" those loans paid for did not equip the borrowers with any useful and marketable skills.

Many economists have proposed that the especially high rate of college cost inflation, may be attributed the ease of availability of subsidized student loans as one, if not the, most significant contributors.

Therefore, it could be suggested that the Republican budget merely strives to hold down the increase in college cost inflation.

How were the Pell Grants hacked. The quoted piece just says it woudl would be capped at the current max for ten years. The whole "loan forgiveness" thing was asinine from the start.

Any proposed cuts are sure to make some little sector of the population butthurt.

But eventually you have to make cuts because we've been spending above our means for years and years.