As a registered nurse, who has $27,000 dollars of student loan debt, I THANK YOU President Obama! I just put in my application for the Special Direct Consolidation of my student loans. You already have my vote (again) this November.
This policy saved me a lot of money on my student loans, and it saved $ 60 Billion from other areas. I think people want each president to fail so they have an excuse to suck at life, this was a good reform law and denying that is denying reality.
we need to invest into our future...young people should not have to go into debt when getting the education and training necessary to enter the job market.
Wow I love these comments about how this is a bailout that rewards risky behavior. Guess what idiots-- going to college is NOT a risky bet! It's something everyone should have the opportunity to do. A guaranteed return on your investment, and a driver of economic growth in the modern world!
but because many more continue to attack the president as if he were the manager and the cause of everything?
if one day we get out of this bloody crisis in 2007 caused "not by him" it will not be thanks to obama, but I think we will come out only if all the social and political want it! If you continue to waste time and money, this can not 'be his own fault! So guys let's be careful when we vote again ... because the opponents is easy to promise.
@zioband I'm a Republican and I don't believe Obama caused the crisis. Bush and the Democratic Congress spent like drunken sailors in 2007 and 2008, that caused the mess we are in. Then Obama came along and is doing the same thing FDR did (building roads, bridges, schools, etc), which was a failure. Ron Paul predicted the financial crisis and he is the only candidate (along with Gary Johnson) who can get us out of this mess.
Ohh... doesn't always start with "reform", then help those in need with "restributed" wealth from the rich to the poor finally it goes on to a more "planned economy'.
i graduated from top 5 business programs with a good gpa. but no work whatsoever ... please forgive the student loans altogether. now that would be a real help.
the aliens are not gray, During the eclipse That will kill the world, They Will put you in Slaughterhouse giants! dirty pigs monkeys learn respect! you will remain eternity in the slaughter
I won't be graduating for another 3 years (cause I want to go for my masters) so how does this affect loan payments in another 3. 6. 9. 12. years from now?
TAGG YOU IT YOU JUST GOT TAGGED BY SAMM !! YOU MUST ANSWER ALL 15 ? S AND TAGG AS MANY U2B FRIENDS AS YOU CAN UNTIL YOU GET A RESPONSE ... ON " GET YOUR FREAK ON VEDIO TAGG" !! CONTINUE THE VEDIO TAGG CHAIN...
I could've sworn this was a bank commercial...running the country into bankrupcy so you can hand out little goodies to buy votes is unconstitutional and pethatic at best. I love the part where we take out bankers from between students and education and put politicians in instead. If only kids were still taught Machiavelli in school...I suppose we have your policies to thank for that
Wow lets try to create another housing crisis with student loans. when will american's learn nothing is for free. I guess the cost of school just got higher and more slimy lawyers going to school.
20 years to pay for an education or a life time of low Government subsidized wages- Sheople- this is not what you bargained for.
Go to a college you can afford and work really hard when you are there- get out of school and work really hard to make something of it- that is the way to win.
This provides yet another revenue stream (more borrowers) for the 1% who own you! Occupy and stop this nonsense!
Why is deferring this debt onto the next generation a good idea? How will this not simply raise the cost of tuition, just as similar policies created the mortgage crisis? Why is it economically disastrous for wall street and home owners to receive bailouts, but not students?
Excellent, since we all know how the unintended consequences of bailouts help the economy... Once risk is artificially reduced, this won't cause tuition to increase even further will it Mr Obama? But heck, the fallout from poor economic choices won't be seen until after your election so it's all good....
Where does the debt go once it's no longer collected? That's right, it's added to the next generations tax bill. Please understand this is yet another shell game, bribing your vote. What you ignore now will face you two fold upon retirement. Though no one will turn down free money, not wall street, nor home owners, nor students. This policy is just horrendous.
Excellent, since we all know how the unintended consequences of bailouts help the economy... Once risk is artificially reduced, this won't cause tuition to increase even further will it Mr Obama? But heck, the fallout from poor economic choices won't be seen until after your election so it's all good....
Just like everything "President Obama" has said, he makes this claim that millions will save money with a refinance of loans.
How? Whats the policy? where is the discount coming from? who is taking a loss? Does it cater to affirmative action plans (AA raises prices and deficit prices for those who aren't a minority)? What will be dont for those who haven't yet gotten a loan yet?
Look the major issue is a $60k degree is not valuable, even Lawyers are losing their homes.
how about we increase our tax rate, specifically an education tax where EVERY citizen pays a bit more. This money would make community colleges and public universities @ a flat 5K? oh wait, did i just say tax increase?
Obama has policies and programs (from american tax payer money) that supports illegal immigrants. these job plans should be for americans not undocumented workers!!
why the fuck would I want to waste money on college when my degree will be worthless anyway added to the massive $24,000 most students will owe, btw Obama snuck a new law into the books during the National budget fiasco. The Government now has permission to database student cell numbers to harass you if you can't pay your tuition debt because the Banksters and the Military Industrial Complex sucked everything else dry so now time to move on down a generation!
college is outrageous because there is too much government in it, just like healthcare, so the whole idea of government saving us is just propoganda and what actually needs to happen is the gov needs too leave the price of education and healthcare in the hands of the teachers and doctors. im pretty sure your professor would'nt charge each student $25,000 a piece, since they only make like 100k max for a whole year for all the students they teach!
Protest the colleges for their prices... Forgiving these loans means that everyone else has to pay for it. I'm tired of the Gov picking winners and losers; they should keep their damn hands off of everything outside the constitution. BASTARDS!
:57 we took more than $60 billion out of the private sector and now the government controls the money. We decide what is good for you and your future.
Yes students, prolong the payments and increase the interest payments to the government. How else is the government going to make money off you? We have a debt to pay off and every little bit helps..
"...make college more affordable." Do you realize that Universities in the majority of Europe are free or at least extraordinarily affordable? I live in Austria and the universities here are free while in Germany they cost 500 Euros per semester. Education is considered a human right here and is paid for by tax payers (but not the tax payers who didn't go or don't plan to go to universities.)
As much as I hate how student loans follow you for the rest of your life, I really hate the fact that this program will allow for even more irresponsible borrowing.
Last thing we need are more people going to horrible private colleges taking worthless classes with no job skill at all!
I really don't understand all the of the ranting over this, typified by @09hillsdalean09. Sure, students (who, by the way, are the least educated consumers) chose their loans, but why shouldn't they be able to refinance or have an income-limited payment plan? I choose to pay for utilities, but I can still get on a payment plan. As to forgiveness, when you've more than paid back the loan already, why keep the consumer saddled with debt when a college degree is basically required nowadays?
So as soon as your IBR payments are less than the payments on a 20 year consolidated loan you might as well just borrow as much as you can. It'll all be forgiven at the end of 20 years anyway
You guys want to make college affordable? Eliminate the student federal loans. This will make colleges slash tuition and make college as cheap as it was in the 50's and 60's.
the only problem would be is that we would be right back to the same issue we had b4.
children with poor parents would not be able to go to school at all and alot would have to settle for a comunity college!
we need to get the ecomomy back on track and get the cost of living down. we also need to keep inflation low and get employers paying more so the loans will be worth it!
im waiting to see who has a plan that will do that!
@pf91rodman without student federal loans, many people who are attending solely because these student loans exist would not be able to afford college anymore. Less people attending your institution = less revenue for your institution, and one way of correcting that could indeed be higher tuition.
@pf91rodman I suppose you want to eliminate grants too? Some people cannot afford to go to college and must take out loans and grants in order to go to even the most basic public university. Many bright students use these grants and loans to better themselves. Eliminating federal grants and loans would probably make higher education only available to those who already have money.
@pf91rodman what? That does not follow at all. Tuition is expensive because of market forces and state politics, not the federal student loan program... that's the only thing saving people from not coming out of college with huge debt, considering private lenders have atrocious interest rates.
@pf91rodman Why would the elimination of loans directly lead to universities/colleges slashing tuition? Couldn't it also lead to them keeping tuition as-is, making it harder [if not impossible] for thousands of students to afford higher education?
@pf91rodman Actually, if they lifted the mandate that limited the amount a college can take in through federal loans, the tuition would go down AND we wouldn't have to enslave ourselves to banks.
But of course private institutions don't want that to be an option.
@MikeHartFanatic Progressively bankrupting the nation isn't progress. Billions more debt our government is to take on, when we are already broke. Obama is simply trying to buy votes with taxpayer loot, it is called desperation.
@14TeaParty88 With the numbers 14 and 88 (and your a tea party supporter too?? Oh boy lol) in your name you must be a white nationalists or neo-nazi. Are you suggesting free college for everyone or just white people only? Other than that I agree with what you are saying as long as its for everyone and not exclusive. Without education we are all at risk of a troubling future up ahead cause we all affect everyone else wheter we want to admit it or not.
@14TeaParty88 Oh yeah Europe is looking like a great place to be. How about go to a college you can afford instead of just racking up debt then crying about oh but your parents probably did the same thing when they bought there house that they couldnt afford cried to the government that it was the banks fault. How about you go to Europe it is a free country and Freedom cost it isnt free. America is where you live in the Pursuit of Happiness not a Guarantee.
College should be free or vastly inexpensive. Why should the current generation and our progeny become indentured serfs to banks for a livelihood? I swear if things don't change, there will be a very violent uprising in this country. How long can people watch while parents have to tell their children to discard their college acceptance while the top 1% lives in absolute splendour? Scientifically speaking if everything has an equal and opposite reaction, this system will be very short lived.
Everything doesn't have an equal and opposite reaction.
That is a law about physical forces and the mathematics behind them.
Natural selection doesn't even apply to humans anymore.
Also, isn't this a step towards that?
I can't imagine banks are happy that the loans are being cut short after 20 years, and the amount allowed to be paid went down. It might be more if they didn't have massive lobbying power...
College should be free or vastly inexpensive. Why should the current generation and our progeny become indentured serfs to banks for a livelihood? I swear if things don't change, there will be a very violent uprising in this country. How long can people watch while parents have to tell their children to discard their college acceptance while the top 1% live in absolute splendour? Scientifically speaking if everything has an equal and opposite reaction, this system will be very short lived.
If student loans are completely forgotten after 20 years of payments, where does all that debt go? It has to go somewhere.
Instead of piling debt onto other people, consider the fact that, like 09hillsdalean09 said, you CHOSE to take out your student loan. It isn't moral to make your debt problems everyone's problem! You may think that it won't harm anyone, but it will. Nothing is free, and this will only contribute to our trillions of debt.
@IM1StealthPilot having more teachers and nurses and educated people will benefit america as a whole . Many of the college students today will even invent the next big thing the world will need. Do you want america to be a America of stupid people?
Every since the government took over all student loans, no one will consolidate private loans because of that. The whole thing is a sham.
And for people who complain about having too much debt and don't get paid enough, try not getting an over-saturated easy degree like Marketing or Sociology that let's allows to be playing Frisbee on the green space by 3pm on a Tuesday. You actually need to get a worthwhile degree that requires effort if you want to get paid anything.
I'm getting ready to attend college and I agree this could help, but this plan seems more of a plan for obama to gain votes then anything else. Honestly Student loans are not what's important for Obama to focus on. Loans will work themselves out when the economy is fixed and the middle class rises again.
This plan is devastating. Transfer of wealth from tax payers to educators overcharging students or students themselves that made poor decisions to run up debt for degrees that will not benefit them. What about fools that paid off their loans... do they get a check in the mail if they were paying more than 10%?
Stop taking things the government offers you. you cannot erase debt without paying it. If you cant afford a college education, im sorry,but just because i can doesnt mean i should pay for yours. Look in the details . They just tried to sell you this in 1 minute. he sat on his hands for 3 years while the country kept crumbling and now that its re election time he is gonna try to gain your support back. remember all the promises in 08?
Dear President Obama, although I appreciate this effort - this doesn't really do anything to make college cheaper which is the real problem with student loans. Debt forgiven after 20 years? Anyone who is still paying off their student loans after 20 years of 10% their income is likely still in school. Please go back to the drawing board on this one. Maybe go with the plan from The West Wing - Make college expenses 100% tax deductible. Or maybe go with the Argentine system and make it 100% free.
Teachers college debts are forgiven after ten years? This is something I'm pretty happy to see my tax dollar go towards. Teachers are underpaid and have an enormous responsibility. They deserve more.
As someone who is just right above the line for much needed government financial aid, funding has been a serious problem i have been considering when choosing schools, especially because i will be going into the medical field. If this plan passes, many people like me, will now be able to peruse careers without getting bogged down with tons of debt!
Take the money, but don't vote for this jerk. He is just trying to buy your vote. College wouldn't be so damn expensive if the government hadn't got involved in the first place. Typical democrats, create a problem then create more problems trying to solve it.
This is just going to make the price of tuition go up even more. It's already ridiculous. I wish the government would just get out of the way. When you decide to get a college education, you pick a marketable degree that will pay for itself. You make mature decisions to perhaps commute instead of paying for the dorms, buy used books online, go to a reasonable university. What happened to common sense? It's so selfish to have other people bail you out.
Why should you not pay back the money you owe? These loans are government-funded, which means that somebody at some point has to pay higher taxes just because you weren't responsible enough to live up to your obligations. And, this won't solve anything, because as a result, the colleges will just raise tuitions even more.
Excuse me. I don't see anything in this bill for older Americans who are still jacked up because of the ever-rolling interest rates that inflates the loans so high that repayment is virtually non-existent given the cost of living and the present state of the economy. I guess for those people, death will be the only relief. After all, for the millions of older Americans (baby boomers) who are out of work, but can still work, companies value less their experience and education. Reform? Not.
I'm blown away at the complete lack of personal responsibility exhibited by most of the people who've comment on this video. I have my own student loans, so I understand their burden. But my God, has everyone forgot the undeniable fact that we chose to borrow our student loans. WE CHOSE TO BORROW so we could attend the school of our CHOICE, paying a tuition amount we were WILLING to accept, using loans we VOLUNTARILY accepted. Curse all you want, no one saddled you with these loans but you.
@09hillsdalean09 We should pay them back. But we can't. Because we can't find jobs that will pay enough. There are no jobs because no one buys things so no one makes things or employs people. No one buys things because we (the average people) throw 80% of our paychecks to student debts. The nation's student debt exceeds 1 trillion dollars. And who gets that money? And what is done with that money? The banks will garnish wages if you cant pay. So they're getting paid. And we remain poor.
@09hillsdalean09 as free-marketed your principles are..think about it. incoming citizens coming in with huge debt aren't gonna spend money in the market. Businesses lose out from people who thought they'd get a job after college in a good economy find out they can't, and without any mobility they're stuck! That adds on to social unrest and this national blamegame in this decade. The Blamed Decade.
starting out with forgiveness can HELP not hinder a sputtering economy.
@09hillsdalean09 I don't have an issue with paying back the principal or a reasonable amount of interest. It's all the fees. My loans went into default 15 years ago when I was making $7.50 an hour. (The state loan people actually asked 'Why can't you pay? What do you do with all your money?') Since then, I've been garnished. I've paid over $50,000 on the original $30,000 and still owe $20,000. I'd have been better off borrowing from a loan shark.
@09hillsdalean09 The fact of the matter is the cost of living has gone up to such a degree that college is all but required to support oneself these days most of the time. Yes, we did choose college and loans, but many were backed into that position because of the job market and cost of living.
@deviant3232 So, you are saying that you have no control over the decisions you make? Personally I save every dime that I make so that I don't have to go into debt for college. If you think that you were backed into your situation, then you deserve to have that debt looming over you.
@09hillsdalean09 How much choice do you really have in the face of incredible social pressures to attend a good college, on top of the rising cost of living coupled with a net loss of about a million dollars in income over your lifetime.
@09hillsdalean09 You clearly have never been outside the US. Most countries pay for students to go to college because it is an investment in the country's population (college grads go on to create jobs and stimulate the economy). The US on the other hand makes college a prerequisite for most jobs, yet preys on the same students which will drive the economy in the future (with ridiculous tuition, book prices, fees, and more).
@09hillsdalean09 except for the fact that i expected a good job.. worked my ass off graduated cum laude.. did everything in the book.. but no jobs! SO NO I DID NOT SIGN UP FOR THAT!
@09hillsdalean09 Obama knows he has not answers to create jobs or help the economy, so he's just trying to buy votes. If people who benefit give them their votes, there's a good chance, there won't be a job waiting for them in the future. We need conservative economics which encourages the job creators to create jobs for those who took loans in the first place have a chance to be employed.
@09hillsdalean09 I want to pay back my loans. I choose to take them out and its my responsibility to repay them. I borrowed 40,000. At the current rate that i can repay them, by the time im finally done the bank will easily pocket over 140,000 in interest. I understand this is one of the ways banks make money, but taking in more than triple what was lended seems insane to me. And thats in addition to fees sallie mae charges when they misallocate my payments.
Has anyone considered the one truth, that every dollar a person owes in student loans is their own doing? I'm saddled with my own student loans because I chose to go to a small private school and borrow in order pay my way. I CHOSE TO BORROW... as did everyone who owes student loan money!! You chose the school you attended, you chose the tuition you were willing to pay, and you chose to borrow to pay it. It's remarkablethe willingness of some to shove the burden of their debts elsewhere...
@09hillsdalean09 True, but for a lot of people they cant just go to a less expensive school. Its either borrow lones you cant afford to get a job or not get a college degree and never make any money at all. i think this is a good thing.
There are no jobs to pay off the inflated loans to begin with. And the loans wouldn't be so much if the current economic system wasn't set up for maximum profit for the universities instead of education for the students. It's a corrupt system. Obama is making it easier to make payments into a corrupt system.
I'm a college student and I have to take out heavy loans (My Univ. is 55k/yr). I've extensively researched this- the overwhelming conclusion is that this will change very little except strengthen the government's grip on the college loan program that the government seized from the banks, as well as win back the youth vote for 2012. Empty propaganda- you still owe the same amount over the same time period. It's sad how easily people buy into these bills without actually investigating them..
@CADMAN4665 The reason why we were in trouble to began with is that many intelligent young Americans don't have the money or are to intimidated by the massive amount of money that they will owe after taking out loans to go to college. We are denying intelligent Americans affordable education (which hurts our economy because of lack of college educated Americans means less innovation and less wealthy Americans to contribute to job growth), and Obama wants to change that. Obama 2012!
@MrMusicFlood Good for one class, you're right, but bad for the general welfare of all Americans. Where do you think this money to pay off your debts will come from? President Obama's kitty bank? The only money government has is the money it takes with force from others.
How are people saying this won't help them? For one, if you have gov't student loans, after 20 years you don't have to pay them anymore as oppose to 25 years. Not to mention, if you are writing checks to more than one student loan, you can consolidate them one payment and NOT pay more than 10% of your disposable income. Re-watch the video! I'm sure EVERYONE can benefit from this, even the people who bad mouth the President (which they shouldn't if all they do is talk trash about Obama).
Does this include private student loans? Because those are the killers. The federal student loans are already willing to help you make payments that fit your income level. But if you took out a private student loan with, say, Sallie Mae, you're life is over. Those people are sharks.
This gets a big thumbs up from me.. and I'm not even someone who would benefit from this. Anyone who goes to college and succeeds in obtaining a degree shouldn't be sitting on a ridiculous pile of debt. We should be rewarding these people.
@nyannman Really? What about all the people that sacraficed to pay the debts off themselves? Should we receive a reward? A check in the mail for paying debt back that Obama no longer feels is necessary?
What about the PARENTS who have taken out parent plus loans? Who is helping them?
Every year FAFSA would approve 80% parent plus loans and 20% student loans. I put 3 kids through college on parent plus loans and cannot qualify for an income based consolidation loan. In most cases the parents are required to borrow more than the student. This is another big reason why baby boomer parents will not have any retirement!
@connecticutmommy: Say you have $40,000 in loan debt at an interest rate of 6.25%. The monthly payment on that I believe works out to a around $260 a month. Over a 25-year period (300 months), you would've paid $78,000, which more than reimburses the taxpayer. Over a 10-year period, it would work out to close to $31,000, assuming that you got into public service work immediately, which is why it's an incentive to work in public service.
Does this apply to students with old loans or just new loans. For example, a B.A. from 1984 with a $30,000 hanging over his head? Where does one go to find out how to exercise this with one's own student loan.
More FREE stuff from barry...(where is ALL this money coming from)
Government student loans are financing degrees, that there is no demand for. Wake UP, get a job and work your way up, like very one else. A degree in basket weaving will make you a basket weaver.
@digitaldud: because public service jobs generally pay less than their for-profit analogues and the value-added doesn't show up in their salary
@SlobbyHill: Great, then don't take advantage of the programs, although I'm not sure how consolidating loans at a lower interest rate or limiting monthly payments is having someone else pay for them. You do realize that even with the forgiveness programs you're going to be paying more than the cost of the loan over that 10 or 25 years, right?
This is a welcome change, but I'd like to see less money going to loans and more money invested in state and community colleges and vocational and apprenticeship programs. Not everyone needs to or should go get a 4-year degree, but if you want to keep the cost down, the best way to do so would probably be to have very high quality state and community schools with low costs and that means investment. You could also try and tackle job retraining at the same time, which is badly needed.
so those of us with no student loans pick up the slack with our tax money. student loans are money already spent, it cant magically disappear. thanks obama for wasting more of my money.
As a registered nurse, who has $27,000 dollars of student loan debt, I THANK YOU President Obama! I just put in my application for the Special Direct Consolidation of my student loans. You already have my vote (again) this November.
angelsgurl 1 week ago
This policy saved me a lot of money on my student loans, and it saved $ 60 Billion from other areas. I think people want each president to fail so they have an excuse to suck at life, this was a good reform law and denying that is denying reality.
Clairvoyant23 1 month ago 30
we need to invest into our future...young people should not have to go into debt when getting the education and training necessary to enter the job market.
KaorazenKTV 2 months ago 18
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httm241 2 months ago
Where's that money come Barack? Way to go by taking some of our hard earned money and giving it to irresponsible college grads.
Patriot150792 3 months ago
182 people never went to college and want to get back at those that did
capricorn83 3 months ago 7
OBAMA 2012
goglee2 3 months ago 5
this negro liar guider you in Slaughterhouse
hannibail 3 months ago
1. claim to reduce student debt
2. say its working
3. idiots vote
4. ????????
5. $28 trillion in debt 4 years later!
revelthehunter 3 months ago 16
just another way for him to try and win....
tmoney511 3 months ago
going to college is NOT a risky bet!
monroesq 3 months ago
the key out of the abyss IS Nazism, then you are still When The Light of Sun Will turn off! the black sun is coming
hannibail 3 months ago
What does B C F stand for...
smartpoints 3 months ago
i wanted clinton
Mrclovercheese 3 months ago
Wow I love these comments about how this is a bailout that rewards risky behavior. Guess what idiots-- going to college is NOT a risky bet! It's something everyone should have the opportunity to do. A guaranteed return on your investment, and a driver of economic growth in the modern world!
monroesq 3 months ago
IS BEAUTIFUL AND FUN TO READ YOUR COMMENTS:
but because many more continue to attack the president as if he were the manager and the cause of everything?
if one day we get out of this bloody crisis in 2007 caused "not by him" it will not be thanks to obama, but I think we will come out only if all the social and political want it! If you continue to waste time and money, this can not 'be his own fault! So guys let's be careful when we vote again ... because the opponents is easy to promise.
zioband 3 months ago
@zioband I'm a Republican and I don't believe Obama caused the crisis. Bush and the Democratic Congress spent like drunken sailors in 2007 and 2008, that caused the mess we are in. Then Obama came along and is doing the same thing FDR did (building roads, bridges, schools, etc), which was a failure. Ron Paul predicted the financial crisis and he is the only candidate (along with Gary Johnson) who can get us out of this mess.
Patriot150792 3 months ago 7
Ohh... doesn't always start with "reform", then help those in need with "restributed" wealth from the rich to the poor finally it goes on to a more "planned economy'.
xrockydog1x 3 months ago
i graduated from top 5 business programs with a good gpa. but no work whatsoever ... please forgive the student loans altogether. now that would be a real help.
desipimp299 3 months ago
the aliens are not gray, During the eclipse That will kill the world, They Will put you in Slaughterhouse giants! dirty pigs monkeys learn respect! you will remain eternity in the slaughter
meat you will learn respect
hannibail 3 months ago
@hannibail Hey it's a crazy guy, man you guys are everywhere on the internet
SpartanB269 3 months ago
obama has youtube acc lol
Weegee9003 3 months ago
This president has better promises than all republican candidates of this election has to offer.
ultimatechakralives 3 months ago
get government out of all loans!
PatricksTime 3 months ago 4
I won't be graduating for another 3 years (cause I want to go for my masters) so how does this affect loan payments in another 3. 6. 9. 12. years from now?
cowardsndntapply 3 months ago
@cowardsndntapply your fucked Bro
fearoftheman 3 months ago
TAGG YOU IT YOU JUST GOT TAGGED BY SAMM !! YOU MUST ANSWER ALL 15 ? S AND TAGG AS MANY U2B FRIENDS AS YOU CAN UNTIL YOU GET A RESPONSE ... ON " GET YOUR FREAK ON VEDIO TAGG" !! CONTINUE THE VEDIO TAGG CHAIN...
samerican1234567 3 months ago
very bad trip: 80% of Americans are obese, 50% are deformed, 65 suffers from mental illness, 40% are large pétomane
hannibail 3 months ago
@savannashines So you like War also
marcuswatsonlife 3 months ago
She said opportunities What opportunities? What Jobs? will they pay that debt off with..
marcuswatsonlife 3 months ago
Wow! Glad to see some one got jobs. All you Kock Bros. TEArrorsits once again chiming in with your asinine Neo-Con gibberish.
How many decades of tax breaks do wealthy 2% "Job Creators" need, before they create those jobs?
You are right... nothing is for free.
You don't pay your phone bill, your phone gets cut off.
You don't pay your electric bill, your power gets cut off.
For the past decade, if not the past 30 years... you criminal wealthy elite have not paid your SOCIETY bill.
Guess what?
Ratteler 3 months ago
I could've sworn this was a bank commercial...running the country into bankrupcy so you can hand out little goodies to buy votes is unconstitutional and pethatic at best. I love the part where we take out bankers from between students and education and put politicians in instead. If only kids were still taught Machiavelli in school...I suppose we have your policies to thank for that
metalicboy 3 months ago
this is the 2011th video posted from this page!!
NewsNowHD 3 months ago
Comment removed
zioband 3 months ago
Wow lets try to create another housing crisis with student loans. when will american's learn nothing is for free. I guess the cost of school just got higher and more slimy lawyers going to school.
djjk12 3 months ago 2
20 years to pay for an education or a life time of low Government subsidized wages- Sheople- this is not what you bargained for.
Go to a college you can afford and work really hard when you are there- get out of school and work really hard to make something of it- that is the way to win.
This provides yet another revenue stream (more borrowers) for the 1% who own you! Occupy and stop this nonsense!
SourcedDirect 3 months ago
@SourcedDirect
Go to a college you can afford <--thats the thing. a lot of ppl can't afford college. #duh
DivinelyMochaDipped 3 months ago
Why is deferring this debt onto the next generation a good idea? How will this not simply raise the cost of tuition, just as similar policies created the mortgage crisis? Why is it economically disastrous for wall street and home owners to receive bailouts, but not students?
rbairos1 3 months ago 3
Excellent, since we all know how the unintended consequences of bailouts help the economy... Once risk is artificially reduced, this won't cause tuition to increase even further will it Mr Obama? But heck, the fallout from poor economic choices won't be seen until after your election so it's all good....
rbairos1 3 months ago
Where does the debt go once it's no longer collected? That's right, it's added to the next generations tax bill. Please understand this is yet another shell game, bribing your vote. What you ignore now will face you two fold upon retirement. Though no one will turn down free money, not wall street, nor home owners, nor students. This policy is just horrendous.
rbairos1 3 months ago 20
Excellent, since we all know how the unintended consequences of bailouts help the economy... Once risk is artificially reduced, this won't cause tuition to increase even further will it Mr Obama? But heck, the fallout from poor economic choices won't be seen until after your election so it's all good....
rbairos1 3 months ago
Just like everything "President Obama" has said, he makes this claim that millions will save money with a refinance of loans.
How? Whats the policy? where is the discount coming from? who is taking a loss? Does it cater to affirmative action plans (AA raises prices and deficit prices for those who aren't a minority)? What will be dont for those who haven't yet gotten a loan yet?
Look the major issue is a $60k degree is not valuable, even Lawyers are losing their homes.
Debt slaves, all of us
zachboi13 3 months ago
20 years of paying and the debt is forgiven? So who pays the remaining capital and interest on that debt? Default?
RedMclaren 3 months ago
Very nice !! Thanks mr. President!! You are the best =)
RojoAmorRojoPasion 3 months ago
how about we increase our tax rate, specifically an education tax where EVERY citizen pays a bit more. This money would make community colleges and public universities @ a flat 5K? oh wait, did i just say tax increase?
miocid31 3 months ago
I'd much rather subsidize student loans to the taxpayer than bail out the banks
theglenlivet12 3 months ago
Obama has policies and programs (from american tax payer money) that supports illegal immigrants. these job plans should be for americans not undocumented workers!!
dogfat69 3 months ago
Grande presidente!!!saluti ciao..
rudy7915 3 months ago
omgz tution will rise even more now!!! Can Obama be even more stupider than we thought?
ObamaChronicles 3 months ago
Obama talks pretty well
ultrawardenguard 3 months ago
jst end the fcking fed!!!!!!
jasonx0017 3 months ago
why the fuck would I want to waste money on college when my degree will be worthless anyway added to the massive $24,000 most students will owe, btw Obama snuck a new law into the books during the National budget fiasco. The Government now has permission to database student cell numbers to harass you if you can't pay your tuition debt because the Banksters and the Military Industrial Complex sucked everything else dry so now time to move on down a generation!
citizensnips83 4 months ago
college is outrageous because there is too much government in it, just like healthcare, so the whole idea of government saving us is just propoganda and what actually needs to happen is the gov needs too leave the price of education and healthcare in the hands of the teachers and doctors. im pretty sure your professor would'nt charge each student $25,000 a piece, since they only make like 100k max for a whole year for all the students they teach!
81onedeep 4 months ago
thanks obama :)
gogitta25 4 months ago
Protest the colleges for their prices... Forgiving these loans means that everyone else has to pay for it. I'm tired of the Gov picking winners and losers; they should keep their damn hands off of everything outside the constitution. BASTARDS!
WingThaiJ 4 months ago
:57 we took more than $60 billion out of the private sector and now the government controls the money. We decide what is good for you and your future.
originalcrowntown 4 months ago
Yes students, prolong the payments and increase the interest payments to the government. How else is the government going to make money off you? We have a debt to pay off and every little bit helps..
originalcrowntown 4 months ago
"...make college more affordable." Do you realize that Universities in the majority of Europe are free or at least extraordinarily affordable? I live in Austria and the universities here are free while in Germany they cost 500 Euros per semester. Education is considered a human right here and is paid for by tax payers (but not the tax payers who didn't go or don't plan to go to universities.)
UrsulaAmericana 4 months ago
Let's elect a candidate who understands economics, wants to actually end wars (not start new ones), and takes the Constitution seriously.
DavidKretzmann 4 months ago
I LOVE YOU OBAMA , YOU HAVE MY VOTE , TODAY I CHANGED TO THE DEMOCRATIC PARTY FOREVER
josuerodriguez1981 4 months ago
As much as I hate how student loans follow you for the rest of your life, I really hate the fact that this program will allow for even more irresponsible borrowing.
Last thing we need are more people going to horrible private colleges taking worthless classes with no job skill at all!
thearaban 4 months ago
I dont understand why my liberal arts degree hasnt paid for itself!!! :((((
vheed44 4 months ago
OBAMA 2012!!
TheJennycococure 4 months ago
I really don't understand all the of the ranting over this, typified by @09hillsdalean09. Sure, students (who, by the way, are the least educated consumers) chose their loans, but why shouldn't they be able to refinance or have an income-limited payment plan? I choose to pay for utilities, but I can still get on a payment plan. As to forgiveness, when you've more than paid back the loan already, why keep the consumer saddled with debt when a college degree is basically required nowadays?
zephae 4 months ago
So as soon as your IBR payments are less than the payments on a 20 year consolidated loan you might as well just borrow as much as you can. It'll all be forgiven at the end of 20 years anyway
eightbitgnosis 4 months ago
You guys want to make college affordable? Eliminate the student federal loans. This will make colleges slash tuition and make college as cheap as it was in the 50's and 60's.
pf91rodman 4 months ago 43
@pf91rodman you are probalbly right about that.
the only problem would be is that we would be right back to the same issue we had b4.
children with poor parents would not be able to go to school at all and alot would have to settle for a comunity college!
we need to get the ecomomy back on track and get the cost of living down. we also need to keep inflation low and get employers paying more so the loans will be worth it!
im waiting to see who has a plan that will do that!
MrMindSpeaker 4 months ago
@pf91rodman without student federal loans, many people who are attending solely because these student loans exist would not be able to afford college anymore. Less people attending your institution = less revenue for your institution, and one way of correcting that could indeed be higher tuition.
gtrheroaddict131 4 months ago
@pf91rodman I suppose you want to eliminate grants too? Some people cannot afford to go to college and must take out loans and grants in order to go to even the most basic public university. Many bright students use these grants and loans to better themselves. Eliminating federal grants and loans would probably make higher education only available to those who already have money.
DressedNDecay 4 months ago
@pf91rodman How does eliminating federal loans lower tuition costs? I'm seriously asking.
DM1387 3 months ago
@pf91rodman What's the difference? In the end we're still paying the same amount.
SalientK 3 months ago
@pf91rodman How though?
DM1387 3 months ago
@pf91rodman Or you could regulate how much colleges could charge.
cheeseandbabys 3 months ago
@pf91rodman what? That does not follow at all. Tuition is expensive because of market forces and state politics, not the federal student loan program... that's the only thing saving people from not coming out of college with huge debt, considering private lenders have atrocious interest rates.
internetuser549 3 months ago
@pf91rodman Why would the elimination of loans directly lead to universities/colleges slashing tuition? Couldn't it also lead to them keeping tuition as-is, making it harder [if not impossible] for thousands of students to afford higher education?
HighwayJoe 3 months ago
@pf91rodman And Ron Paul understands this... Everything Government gets into, the price increases...
IBloodSweatTears 3 months ago
@pf91rodman Actually, if they lifted the mandate that limited the amount a college can take in through federal loans, the tuition would go down AND we wouldn't have to enslave ourselves to banks.
But of course private institutions don't want that to be an option.
michaelwuzthere 3 months ago 5
@pf91rodman You better shut up with your logic,man.This is the Obama campaign page.
Christian121y 3 months ago
Why would you dislike progress?
MikeHartFanatic 4 months ago
@MikeHartFanatic it's not progress. it's just a scheme to win back the youth for a reelection
iRickder 4 months ago
@MikeHartFanatic Progressively bankrupting the nation isn't progress. Billions more debt our government is to take on, when we are already broke. Obama is simply trying to buy votes with taxpayer loot, it is called desperation.
hopeurforfreedom 3 months ago
@MikeHartFanatic
This isn't progress, we only pushed the due date even further...
videomakerman1232 3 months ago
Here's a better idea:
No student loans! As for the loans people are in right now, institute debt-FORGIVENESS programs instead.
Make college free!!!
It works in Europe.
14TeaParty88 4 months ago 29
@14TeaParty88
You realize that's socialism right?
Not that I disagree.
nidep3ngyou 4 months ago
@14TeaParty88 how does it work in Europe if the best colleges are in the US?!
21stCenturyEconomy 3 months ago
@14TeaParty88 at least, make college free if it is a mandatory education to get a job (an associates degree is the new high school diploma).
internetuser549 3 months ago
@14TeaParty88 This is America not Europe I doubt anyone could make that happen
Langston900 3 months ago
@14TeaParty88 With the numbers 14 and 88 (and your a tea party supporter too?? Oh boy lol) in your name you must be a white nationalists or neo-nazi. Are you suggesting free college for everyone or just white people only? Other than that I agree with what you are saying as long as its for everyone and not exclusive. Without education we are all at risk of a troubling future up ahead cause we all affect everyone else wheter we want to admit it or not.
cowardsndntapply 3 months ago
@14TeaParty88 Oh yeah Europe is looking like a great place to be. How about go to a college you can afford instead of just racking up debt then crying about oh but your parents probably did the same thing when they bought there house that they couldnt afford cried to the government that it was the banks fault. How about you go to Europe it is a free country and Freedom cost it isnt free. America is where you live in the Pursuit of Happiness not a Guarantee.
tkcrofamericans 3 months ago
@14TeaParty88 have you ever been to Europe for more than a week or 2? Didn't think so.
IwatchesTehBBC 3 months ago
College should be free or vastly inexpensive. Why should the current generation and our progeny become indentured serfs to banks for a livelihood? I swear if things don't change, there will be a very violent uprising in this country. How long can people watch while parents have to tell their children to discard their college acceptance while the top 1% lives in absolute splendour? Scientifically speaking if everything has an equal and opposite reaction, this system will be very short lived.
theone1087 4 months ago
@theone1087
Everything doesn't have an equal and opposite reaction.
That is a law about physical forces and the mathematics behind them.
Natural selection doesn't even apply to humans anymore.
Also, isn't this a step towards that?
I can't imagine banks are happy that the loans are being cut short after 20 years, and the amount allowed to be paid went down. It might be more if they didn't have massive lobbying power...
nidep3ngyou 4 months ago
College should be free or vastly inexpensive. Why should the current generation and our progeny become indentured serfs to banks for a livelihood? I swear if things don't change, there will be a very violent uprising in this country. How long can people watch while parents have to tell their children to discard their college acceptance while the top 1% live in absolute splendour? Scientifically speaking if everything has an equal and opposite reaction, this system will be very short lived.
theone1087 4 months ago
It's like fertalizing in the spring to harvest crops in the fall.
SteelMartini 4 months ago 6
Ha, Obama got that google connection. Shout out to Larry Page!!! Obama 2012
JDMarine89 4 months ago
thank you Uncle Barack
jonjonlokomaikai 4 months ago
A student loan is an investment that will hopefully have a big return. Where is my help for losing money in the stock market and retirement plans?
mmart4321 4 months ago
If student loans are completely forgotten after 20 years of payments, where does all that debt go? It has to go somewhere.
Instead of piling debt onto other people, consider the fact that, like 09hillsdalean09 said, you CHOSE to take out your student loan. It isn't moral to make your debt problems everyone's problem! You may think that it won't harm anyone, but it will. Nothing is free, and this will only contribute to our trillions of debt.
IM1StealthPilot 4 months ago 3
@IM1StealthPilot having more teachers and nurses and educated people will benefit america as a whole . Many of the college students today will even invent the next big thing the world will need. Do you want america to be a America of stupid people?
bluediamond2077 2 months ago 6
Sallie Mae burn in hell.
I've nothing to say to those people!
Animatorbluesky 4 months ago 2
@Animatorbluesky :D
josuerodriguez1981 4 months ago
This is good. We need more folks to get educated !
ssmadan 4 months ago
obama! make this happen in canada!
d3008 4 months ago
Every since the government took over all student loans, no one will consolidate private loans because of that. The whole thing is a sham.
And for people who complain about having too much debt and don't get paid enough, try not getting an over-saturated easy degree like Marketing or Sociology that let's allows to be playing Frisbee on the green space by 3pm on a Tuesday. You actually need to get a worthwhile degree that requires effort if you want to get paid anything.
thizzle7xu 4 months ago
I'm getting ready to attend college and I agree this could help, but this plan seems more of a plan for obama to gain votes then anything else. Honestly Student loans are not what's important for Obama to focus on. Loans will work themselves out when the economy is fixed and the middle class rises again.
WGBIV 4 months ago
This plan is devastating. Transfer of wealth from tax payers to educators overcharging students or students themselves that made poor decisions to run up debt for degrees that will not benefit them. What about fools that paid off their loans... do they get a check in the mail if they were paying more than 10%?
TheFisher706 4 months ago
Stop taking things the government offers you. you cannot erase debt without paying it. If you cant afford a college education, im sorry,but just because i can doesnt mean i should pay for yours. Look in the details . They just tried to sell you this in 1 minute. he sat on his hands for 3 years while the country kept crumbling and now that its re election time he is gonna try to gain your support back. remember all the promises in 08?
chrisdenton01 4 months ago
Please let this pass. I really need this to happen
gahill1826 4 months ago
who is buying all the bad debt? in other words which bank will need bailed out IF this goes anywhere
chrisdenton01 4 months ago
I am really happy to hear this. Good luck Obama.
gev2323 4 months ago
Dear President Obama, although I appreciate this effort - this doesn't really do anything to make college cheaper which is the real problem with student loans. Debt forgiven after 20 years? Anyone who is still paying off their student loans after 20 years of 10% their income is likely still in school. Please go back to the drawing board on this one. Maybe go with the plan from The West Wing - Make college expenses 100% tax deductible. Or maybe go with the Argentine system and make it 100% free.
SirCallan 4 months ago
Teachers college debts are forgiven after ten years? This is something I'm pretty happy to see my tax dollar go towards. Teachers are underpaid and have an enormous responsibility. They deserve more.
SW20FL 4 months ago
OBAMA FTW
unknownman123 4 months ago
The GOP candidates don't even talk about what they would do about helping students afford college.
DM1387 4 months ago
The college students of America thank you, Mr. President.
AzureAlliance 4 months ago
Just what America needs, more college grads. with no jobs, lol.
mikestheman3 4 months ago
As someone who is just right above the line for much needed government financial aid, funding has been a serious problem i have been considering when choosing schools, especially because i will be going into the medical field. If this plan passes, many people like me, will now be able to peruse careers without getting bogged down with tons of debt!
jamesjames77429 4 months ago
That's ok, because the universities are waiting to raise the rates. Screw OWS, eberyone should occupy a university (especially a private one).
Txman1996 4 months ago
Take the money, but don't vote for this jerk. He is just trying to buy your vote. College wouldn't be so damn expensive if the government hadn't got involved in the first place. Typical democrats, create a problem then create more problems trying to solve it.
maxxgraphix 4 months ago
This is just going to make the price of tuition go up even more. It's already ridiculous. I wish the government would just get out of the way. When you decide to get a college education, you pick a marketable degree that will pay for itself. You make mature decisions to perhaps commute instead of paying for the dorms, buy used books online, go to a reasonable university. What happened to common sense? It's so selfish to have other people bail you out.
fishtasticButTrue 4 months ago
Why should you not pay back the money you owe? These loans are government-funded, which means that somebody at some point has to pay higher taxes just because you weren't responsible enough to live up to your obligations. And, this won't solve anything, because as a result, the colleges will just raise tuitions even more.
roggflogger 4 months ago
LeBron traveled.
DominicRiv 4 months ago
The lack of personal responsability here is mind numbing.
redconeja 4 months ago
so glad I make $2,019.00 a month TO GO TO SCHOOL for FREE. Thanks Post 911 G.I. Bill :D
nicholasfocarelli 4 months ago
"designed to make student loan payments more affordable". no, this is why college is too expensive.
skiptomylou567 4 months ago
Excuse me. I don't see anything in this bill for older Americans who are still jacked up because of the ever-rolling interest rates that inflates the loans so high that repayment is virtually non-existent given the cost of living and the present state of the economy. I guess for those people, death will be the only relief. After all, for the millions of older Americans (baby boomers) who are out of work, but can still work, companies value less their experience and education. Reform? Not.
Sistah4Life 4 months ago
58 parents just came back from tokyo to pay their childs tuition.
freemovingwind 4 months ago
I'm blown away at the complete lack of personal responsibility exhibited by most of the people who've comment on this video. I have my own student loans, so I understand their burden. But my God, has everyone forgot the undeniable fact that we chose to borrow our student loans. WE CHOSE TO BORROW so we could attend the school of our CHOICE, paying a tuition amount we were WILLING to accept, using loans we VOLUNTARILY accepted. Curse all you want, no one saddled you with these loans but you.
09hillsdalean09 4 months ago 43
@09hillsdalean09 We should pay them back. But we can't. Because we can't find jobs that will pay enough. There are no jobs because no one buys things so no one makes things or employs people. No one buys things because we (the average people) throw 80% of our paychecks to student debts. The nation's student debt exceeds 1 trillion dollars. And who gets that money? And what is done with that money? The banks will garnish wages if you cant pay. So they're getting paid. And we remain poor.
gev2323 4 months ago
@09hillsdalean09 as free-marketed your principles are..think about it. incoming citizens coming in with huge debt aren't gonna spend money in the market. Businesses lose out from people who thought they'd get a job after college in a good economy find out they can't, and without any mobility they're stuck! That adds on to social unrest and this national blamegame in this decade. The Blamed Decade.
starting out with forgiveness can HELP not hinder a sputtering economy.
LordKaisen 4 months ago
@09hillsdalean09 Thank you.
nino210 4 months ago
@09hillsdalean09 I don't have an issue with paying back the principal or a reasonable amount of interest. It's all the fees. My loans went into default 15 years ago when I was making $7.50 an hour. (The state loan people actually asked 'Why can't you pay? What do you do with all your money?') Since then, I've been garnished. I've paid over $50,000 on the original $30,000 and still owe $20,000. I'd have been better off borrowing from a loan shark.
meldasue 4 months ago
@09hillsdalean09 The fact of the matter is the cost of living has gone up to such a degree that college is all but required to support oneself these days most of the time. Yes, we did choose college and loans, but many were backed into that position because of the job market and cost of living.
deviant3232 4 months ago 7
@deviant3232 So, you are saying that you have no control over the decisions you make? Personally I save every dime that I make so that I don't have to go into debt for college. If you think that you were backed into your situation, then you deserve to have that debt looming over you.
MrCsx100 4 months ago
@09hillsdalean09 How much choice do you really have in the face of incredible social pressures to attend a good college, on top of the rising cost of living coupled with a net loss of about a million dollars in income over your lifetime.
WCarroll91 4 months ago 3
@09hillsdalean09
Sorry guy, these days the American people don't subscribe to the start swimming or drown thing.
They prefer to try and use the government as a tool to build a raft.
And do you remember when the banks sold all the bad debt to the government? That bad debt they chose to take on?
nidep3ngyou 4 months ago 3
@09hillsdalean09 You clearly have never been outside the US. Most countries pay for students to go to college because it is an investment in the country's population (college grads go on to create jobs and stimulate the economy). The US on the other hand makes college a prerequisite for most jobs, yet preys on the same students which will drive the economy in the future (with ridiculous tuition, book prices, fees, and more).
amarmirza08 4 months ago
@09hillsdalean09 except for the fact that i expected a good job.. worked my ass off graduated cum laude.. did everything in the book.. but no jobs! SO NO I DID NOT SIGN UP FOR THAT!
jadajadee 4 months ago
@09hillsdalean09 Yea just like those African's choose to be slaves (never mind the gun pointed at their heads when they made the decision).
amarmirza08 4 months ago
@09hillsdalean09 Obama knows he has not answers to create jobs or help the economy, so he's just trying to buy votes. If people who benefit give them their votes, there's a good chance, there won't be a job waiting for them in the future. We need conservative economics which encourages the job creators to create jobs for those who took loans in the first place have a chance to be employed.
WingThaiJ 3 months ago
@09hillsdalean09 I want to pay back my loans. I choose to take them out and its my responsibility to repay them. I borrowed 40,000. At the current rate that i can repay them, by the time im finally done the bank will easily pocket over 140,000 in interest. I understand this is one of the ways banks make money, but taking in more than triple what was lended seems insane to me. And thats in addition to fees sallie mae charges when they misallocate my payments.
andronnai 3 months ago
Has anyone considered the one truth, that every dollar a person owes in student loans is their own doing? I'm saddled with my own student loans because I chose to go to a small private school and borrow in order pay my way. I CHOSE TO BORROW... as did everyone who owes student loan money!! You chose the school you attended, you chose the tuition you were willing to pay, and you chose to borrow to pay it. It's remarkablethe willingness of some to shove the burden of their debts elsewhere...
09hillsdalean09 4 months ago
@09hillsdalean09 True, but for a lot of people they cant just go to a less expensive school. Its either borrow lones you cant afford to get a job or not get a college degree and never make any money at all. i think this is a good thing.
ABeautifulMess12 4 months ago
There are no jobs to pay off the inflated loans to begin with. And the loans wouldn't be so much if the current economic system wasn't set up for maximum profit for the universities instead of education for the students. It's a corrupt system. Obama is making it easier to make payments into a corrupt system.
dc5bom 4 months ago
I'm a college student and I have to take out heavy loans (My Univ. is 55k/yr). I've extensively researched this- the overwhelming conclusion is that this will change very little except strengthen the government's grip on the college loan program that the government seized from the banks, as well as win back the youth vote for 2012. Empty propaganda- you still owe the same amount over the same time period. It's sad how easily people buy into these bills without actually investigating them..
jpmacph 4 months ago 3
@CADMAN4665 The reason why we were in trouble to began with is that many intelligent young Americans don't have the money or are to intimidated by the massive amount of money that they will owe after taking out loans to go to college. We are denying intelligent Americans affordable education (which hurts our economy because of lack of college educated Americans means less innovation and less wealthy Americans to contribute to job growth), and Obama wants to change that. Obama 2012!
polishguy994 4 months ago
GOP can pretend this is a bad thing - but in reality, this is VERY good for students and post-grads with huge loans!!!
MrMusicFlood 4 months ago
@MrMusicFlood Good for one class, you're right, but bad for the general welfare of all Americans. Where do you think this money to pay off your debts will come from? President Obama's kitty bank? The only money government has is the money it takes with force from others.
TheFisher706 4 months ago
How are people saying this won't help them? For one, if you have gov't student loans, after 20 years you don't have to pay them anymore as oppose to 25 years. Not to mention, if you are writing checks to more than one student loan, you can consolidate them one payment and NOT pay more than 10% of your disposable income. Re-watch the video! I'm sure EVERYONE can benefit from this, even the people who bad mouth the President (which they shouldn't if all they do is talk trash about Obama).
609nisa 4 months ago
Does this include private student loans? Because those are the killers. The federal student loans are already willing to help you make payments that fit your income level. But if you took out a private student loan with, say, Sallie Mae, you're life is over. Those people are sharks.
gev2323 4 months ago
@gev2323 You can't consolidate private loans since the takeover.
thizzle7xu 4 months ago
These loans won't make education more affordable...
The prices will just go up!
DackIsBack 4 months ago 38
This gets a big thumbs up from me.. and I'm not even someone who would benefit from this. Anyone who goes to college and succeeds in obtaining a degree shouldn't be sitting on a ridiculous pile of debt. We should be rewarding these people.
nyannman 4 months ago
@nyannman Really? What about all the people that sacraficed to pay the debts off themselves? Should we receive a reward? A check in the mail for paying debt back that Obama no longer feels is necessary?
TheFisher706 4 months ago
What about the PARENTS who have taken out parent plus loans? Who is helping them?
Every year FAFSA would approve 80% parent plus loans and 20% student loans. I put 3 kids through college on parent plus loans and cannot qualify for an income based consolidation loan. In most cases the parents are required to borrow more than the student. This is another big reason why baby boomer parents will not have any retirement!
LLMills52 4 months ago
@connecticutmommy: Say you have $40,000 in loan debt at an interest rate of 6.25%. The monthly payment on that I believe works out to a around $260 a month. Over a 25-year period (300 months), you would've paid $78,000, which more than reimburses the taxpayer. Over a 10-year period, it would work out to close to $31,000, assuming that you got into public service work immediately, which is why it's an incentive to work in public service.
zephae 4 months ago
Does this apply to students with old loans or just new loans. For example, a B.A. from 1984 with a $30,000 hanging over his head? Where does one go to find out how to exercise this with one's own student loan.
PoincianaHome 4 months ago
thats awesome....but we cant pay off loans if there are no jobs!
chepp10 4 months ago 2
@chepp10 even if there are you can't get them without education.
Arharh09 3 months ago
More FREE stuff from barry...(where is ALL this money coming from)
Government student loans are financing degrees, that there is no demand for. Wake UP, get a job and work your way up, like very one else. A degree in basket weaving will make you a basket weaver.
In the end we only need so many basket weavers
travel1949 4 months ago
Sorry, but this won't help me at all.
tlavarry 4 months ago
How is this not on the back of taxpayers? Who picks up the balance of the forgiven loans?
connecticutmommmy 4 months ago
@connecticutmommmy Exactly. How is this President not laughed off the stage - even by students in debt? Theft, plain and simple!
TheFisher706 4 months ago
@digitaldud: because public service jobs generally pay less than their for-profit analogues and the value-added doesn't show up in their salary
@SlobbyHill: Great, then don't take advantage of the programs, although I'm not sure how consolidating loans at a lower interest rate or limiting monthly payments is having someone else pay for them. You do realize that even with the forgiveness programs you're going to be paying more than the cost of the loan over that 10 or 25 years, right?
zephae 4 months ago
This is a welcome change, but I'd like to see less money going to loans and more money invested in state and community colleges and vocational and apprenticeship programs. Not everyone needs to or should go get a 4-year degree, but if you want to keep the cost down, the best way to do so would probably be to have very high quality state and community schools with low costs and that means investment. You could also try and tackle job retraining at the same time, which is badly needed.
zephae 4 months ago
I paid off my Student loan MYSELF! I refuse to pay your mother fucking loans!! Fuck you
Derail07 4 months ago
so those of us with no student loans pick up the slack with our tax money. student loans are money already spent, it cant magically disappear. thanks obama for wasting more of my money.
pcornely88 4 months ago