Obama to Revamp Student Loans: News Current

[thecanadianstoner1]

Canadian here looking in the USA window...Don't listen to your president! Your country is almost bankrupt, don't bankrupt yourselves by going to college. Very few Canadian college student are starting to realize that the world economy is crashing in which a small count of college students are dropping out, finding work they can do and save money. Take your cash out of the bank and lock it in a safe! Banks in America are about to crash!

[explainingwhy]

Dear students,

Will Student Loans help if there would be NO jobs for you -students- when you graduated ?".

By the time you -students- graduated there would be no jobs because Obama have bankrupt USA then through unwise loans to companies like Solynda[$535 MILLIONS] that went bankrupt.

How many such loans were given since then?

Does Obama keep his promises made to you, folks, during the last election?

Is STUDENT LOAN a bribe to gain the student's votes in the next election?

BE WISE

AMEN

[explainingwhy]

If you were Christians, then you would know that Obama is born a Muslim & A MUSLIM IS ALLOWED TO LIE according to hadith 6459-Ahmad that allowing: 1] lying to wives, 2] lying to enemies & 3] lying when peacemaking!

Obama claimed to be a Christian, but bears no fruit of the Spirit as he does not keep his promises he made during the last election - THUS LYING! Also in speeches.

1] Did Obama made good his promises made to you, folks, during the last election?

2] Did you find him lying?

AMEN

AMEN

[theglenlivet12]

@explainingwhy Mulims lie all the time

[lilpolo20]

I love how they talk to bad about the president. Below, you have electrodes1300 talking about how local education keeps getting cut and acts like it's Obama's fault. Obama didn't vote against the Jobs Bill that would have saved thousands of teacher, firemen, and police jobs. The republicans did. Im truly tired of stupidity for these republicans. I want them to gain control of the country again because when they run this mutha fucka in the ground. There wont be shit you can tell me.

[lilpolo20]

People find a way to complain about everything. You give an inch. They want a mile. The fact is he can't possible allow people to get out of payment with student loans but he can try to make things more comfortable by changing the 15% of your annual income going to student loans to 10% and he can bring down the age for student loan forgivness from 25 to 20 year since they have more than paid their money back with all of that intrest.

[Tarik2078]

Whos stephanie lol

[electrodes1300]

Every speech contains empty promises about education while local education keeps getting cut. "Gearing up for battle?" Always new ways to borrow, he also helped the SBA with a much better loan program.

Say one thing, do another, change your tie and then do it again... I want his job!

[Yanomeko1]

DIDN'T OBAMA PROMISE TO MAKE THE FRESHMAN YEAR OF COLLEGE FREE!!!!!!

WHAT HAPPENED

[phillyspartanfan]

Mr. President,

With all due respect, you told me basically NOTHING here. And that part where you mentioned $2,500.00 to help pay for tution...are you KIDDING ME? Over the long haul with school being as expensive as it is and then INSANE interest on top of that, what ON EARTH do you think $2,500.00 is going to do. Let's just cut to the chase: Are you for allowing private student loans to be discharged in Bankruptcy or not? That's the REAL issue here and the rest is just lip service.

[TheBiggestNoobEva]

Obama sucks, 'nuff said.

[CollegeReform]

Obama when will you hold the colleges and student loan lenders accountable? Higher education needs drastic reforms. Join a movement to expose the problems with today's colleges. Type Reform Higher Education Now in the search box on Facebook or click CollegeReform below.

[heartlessvietboy]

America cannot lead forth pass the 21st Century with an Educational System Like This. Schools are rioting and kids are dressed in baggy clothes spitting and disrespecting teachers.

[invisiblenomore]

We are the only country who works hard and not smart with as much wealth as we have. We have no vacation, no sick days barely and most people have bosses who work you to death and threaten you with "100's of others who will take your job in a heartbeat". What the hell kind of life is that to look forward to? Like Joe versus the volcano..brain death while on your feet. No joy, no hope only servitude. Not a conspiracy but REALITY. USA needs new leadership.

[invisiblenomore]

While we argue over immigration, politics and religion, the RICH GREEDY CORPORATIONS WHO GOT WELFARE are robbing us blind and outsourcing jobs and this country turns a blind eye to WE THE PEOPLE. What a damn joke the "promise of college". I have 3 kids and i dont want them to go to college as there are no jobs to pay the student loan debt they will have.The jobs that do hire pay shit wages a dog could not live off and there is no hope to do better. YOU OUTSOURCE JOBS? YOU GET OUT OF THE US NOW.

[invisiblenomore]

I love it that Americans who are trying to pay their student loan debt, their rent or mortgages, their GAS BILL and insurance and now are going to be forced to buy the worst health care coverage ever in the history of the US are talking in large numbers about moving to afford even a meager lifestyle. GREED. Ruining America. THERE ARE NO JOBS IN ANY FIELD EXCEPT NURSING AND COMPUTERS. What about the rest of the country? How about job creation that pays the bills? Living wages? HAHAHAHA

[1XMarksSpot]

Obama doesn't give two shits about anyone but his masters and himself.

[MrSpemat]

Obama pretending to care is so funny to see these days...

[andy08s]

mafia rules colleges, sooner or later we will have civlil agitation regarding this insane issue

[thebigjc2356]

Take the loans, get a great education, then move to another country and never pay it back! :D

[phillyspartanfan]

@thebigjc2356 I don't know if you're being serious or not, but I've actually thought of that. My fiancee is from Thailand. We're going to start out in the U.S. and see what happens. But if we can't have the lifestyle we deserve because of these BULLSHIT student loans, we're outta' here. We'll just move to Thailand and start over there. I didn't go to school to be poor for the rest of my life while my student loan payments make a bunch of SCUMBAGS rich.

[mMNORTONMm]

People my age, need to realize that we need to be thinking about money more even more than we have in the past. Think about it, and then start paying off the debt A.S.A.P, Find a way to do it fast, before they decide they don't need u$.

[2plnkr]

These grants will further lead students into debt. The schools are providing students misleading information that shows students will likely be employed, and at a salary where they can pay back their student loans, but this is not the case in reality. Sallie Mae and the colleges know the information is misleading, but continue to lend because they know students are unable to discharge their debt, and that they will have to pay a higher interest rate when they default. Indirect slavery.

[Esoteric0714]

Clearly the problem is that the rich aren't getting their tax breaks.

[818doodooroo]

thank you obama from Glendale College in CA

[crazendisturbed]

I can't wait to see when you have massive amount of students defaulting because there are no jobs.(sarcasm) The whole reason why we are in a recession is because of the BELIEF of easy money 'credit' and entitlement. Most people believe that getting a college degree means that you'll have a good paying job when you graduate. We then take in loans that are nearly 12% interest which will ultimately won't be payed until 10 years or more down the road.

[AnotherAgnostic]

@crazendisturbed, one thing is for sure... if you don't have a college degree you will work for shit wage for your entire life. It's a pretty shitty choice. I personally can't wait for this monetary system to fail.

[ITSSEXYBEAST]

Total yearly cost for college= $25,000. For the last three years I got this much for Grant (free government money)= ZERO!!! I wonder why Japan and other countries have more educated citizens, because they don't have to pay for school. Every congressman in the White House are idiots. If all congressmen love their country...their salaries should be ZERO. Not $400,000 a year or 200,000

[angygrle]

If Obama can stop companies like Sallie Mae from subprime lending that would be great! What is he doing for people who are already involved with them?? crooks

[plague1313]

what we need is a bail out just like GM got on these student loans

[forwardmover]

Obama Government COLLECTIVIST takeover of the student loan finance industry. Another "loan and own" promotion for the OBAMA Plantation project. You want to control someone? Lend them money. Quite sneaky. But this is just one of the reasons why Obama will be a 1 term president, and be considered worse than Carter. Mover over, Jimee!

[MrMyfastloan]

We need a new government...personally, if we had more women in government, it might get better, but It's not looking good!

[indianicole]

@gino360 Me too! Awesome, huh?

[SayNoToBrainWashing]

LIAR

[beaner1089]

Now, i dont know if what i am about to say was a part of that morons plan for student loans, but i cant sign for my own loans till im 24. it used to be 21 but a lot people screwed that up cause they havent been paying the loans back. my mother cant help me cause she has got $60,000 in loans that she still has to pay off. im almost 21 and i cant go to school yet.. so that means i gotta work a shit job for 3 more years and will prolly be stuck at my parents till then cause i dont have $ for rent.

[shadowfaxx1]

@beaner1089 My adivice is to not go to college because at the end you will still be working a shit job, and will also have a huge debt like your mother. Any more, college is not necessarily the key to success. The key to success is knowing the right people.

[diznab900]

wtf why are schools so expensive in usa,

in france and england its FREE

[mghamberlin]

@diznab900 Schools in Europe are free because the govenments over there do not waste money educating idiots and people who do not want to learn. From Junior High on you have to take a test at the end of the year. If you are not in a certain percentile you do not go to the next grade but go get a job. Once you graduate High School you take a test and your test results rate what you study in college. They do not have Bull Crap degrees like the USA has. The US would never accept that system.

[Bravesfan4500]

@mghamberlin Also in Europe you guys don't spend around one trillion dollars on the military and bullshit wars.

[mghamberlin]

@Bravesfan4500 Of couse you don't. They sit on your sorry butts and let the US do it themselves. Europe is nothing more then the Islamics B#*$tches because they keep sucking them off to keep them happy.

[ajack50]

how is that "hope and Change working for all of the unemployed Americans.vote them out in 2010 and obummer goes next

[mtb416]

Great, now you don't have to pay back what you asked for. Here we are on a sinking ship, and rather than Obama bailing out the ship itself, he is actually reaching over the side, dipping the bucket in the water, and filling up the ship with water himself.

[fckyouobama]

Actually the student loans should be made directly with China. Cut out the middle man, the U.S. government, from taking it's cut.

[beebop46n2]

Where's the workforce Obama? Where are the jobs that someone can get with this college degree? I forgot they are all being outsourced! Thank you for providing easy access to financial debt with no ability to pay it back.

[GreatSatan1]

Only communists need apply for student loans.

[bradtechonline]

I make $46,000, no grant here.. Cannot afford to pay out of pocket. No rich relative.. I'm done with the easy loan scam as of today. I'm going to suck up, and get to paying back as much as possible. I had one buddy join the army to get out of it. It's either be absolute poor, or be very rich in this country. I'm probably worse off than welfare recipients. At least they get guaranteed food stamps. Time to search for Native American heritage or breed irresponsibility.

[beebop46n2]

How does a nation in debt benefit society?! Why has the cost of tuition risen 400% that of inflation since 1985? Guaranteed Government student loans. Not only is unlimited funding available which rises tuition costs due to unlimited demand, there is a surplus of BS/BA degrees which has watered down their marketability. Add to this that higher education is now considered a poor indicator of performance in the real world of the market economy. What benefit is there?

[creepyartkid]

hey obama! remember when it costs me $13,000 to go to school this semester and all i got from the pell grant was $600... and my family is poor as hell?????? thanks! ur a shitty president!

[spiderwebb33]

@creepyartkid that had nothing to do with the Prez but nice try

[TribeofShabazz]

That's not Obama's, b.u.t. all of Bush's fault. Remember him?? He was the president who couldn't speak English let alone Texan?? Bush is the one who was the shitty president!! P.E.A.C.E.

[bluediamond2077]

u don't know what poor is that's why u got $600

[creepyartkid]

i dont know what poor is? are you fucking kidding me? both of my parents never attended college and are working lower class jobs. which in return gives me no room for financial help. and transferring to a world-known institution which will end up costing me around 90,000 for a bachelors degree. and im attending this school because I have had a lifelong dream of attending it, and since its a very hard school to get into, I took advantage of it.

[bluediamond2077]

both my parents never attended college and i'm 29 lost my job have a child and have been only been able to find a part time job. Worst yet this job I have at home depot pays shit $10 an hour and they are only giving me 17-19 hours a week depending on the week. So here I am making $700 a month with a family to feed not being able to find other work im on food stamps now and I have $38,000 in credit card debt so I have collectors on my ass and im getting sued. You think u know what poor is ??????

[bluediamond2077]

Hell my grant was only $1650 I didn't even get the full grant. If you got $600 then your doing a hell of allot better then me. That's my point . You don't really know what poor is.

[1XMarksSpot]

@bluediamond2077 Why the hell do you have $38,000 in credit card debt in the first place??

[1XMarksSpot]

@bluediamond2077 Unfortunate to hear, but you should never tap into credit cards unless you absolutely have to nor should you trust a significant other who promises to pay back half. You should get the kind of thing in writing and put away from the reach of your significant other. You were probably blinded by love or what you thought was love. Live and Learn.

[uncoverbrother]

@bluediamond2077 sounds like filing bankruptcy is calling your name. that's what it's there for. start over. and now that you're in school, it'll truly be a new beginning. good luck!

[1XMarksSpot]

@bluediamond2077 You have $38,000 in credit card debt? What the fuck did you buy? You dug your own hole on that one. Obama don't care either.

[factsoutofbirds]

@bluediamond2077 hang in there buddy I am here with you 

[barbcinque]

700 $ dollars to rich crooks is rewarding those that do worse than nothing..they cause destruction and misery to their fellow americans. so if a buck of my tax money goes to an underprivileged mentally handicapped person...so be it. Id rather that than to give the massive amounts we give to corporate america in concessions alone.

Im so tired of this narrow minded thinking by pp who have so much to say and yet cant even spell it.

[barbcinque]

the average republican is an ignorant ass who enjoys everything the liberals have fought for but continues to vote for the big corporate greedy crooks that continue to screw american workers.

So if you dont like liberals give back your worker rights, your unemployment, disability, sick days and any other laws that protect the average worker.

All the republicans do in office is cater and pander to their rich constituents while selling americans down the river.

[wotan237]

cancel student loans now !!! meet personally with your rep ! dont waste your emails...

[GATORSHARK25]

College is over priced. These private loan providers must hate Americans. I say, if you cant afford College, then join the Military. Other than that, I agree with Obama on changing the Student Loan system. Some of these private loan interest rates are out of control. Its like throwing away money over and over. Private Student Loans is an organized crime and should be taken out of our system.

[kraeppy]

best educated???? XDDD 

wtf.....

american people can't find any jobs in germany..... their graduation isn't accepted because it's nothing worth....

[illnastic]

although I would like to give you a thumbs down....its partially true....the united states needs to reform the educational system really bad.  especially math....

[waltermh111]

no, i am a liberal, a mixed system is always best as each one has something to give.

To assume that no part of socialism can benefit us and assume everything is black and white, to be closed minded about the options out there. To be so dogmatic about the god that is your one true philosophy or economic system, thats a failure to improve yourself to the fullest degree.

Nobody has all the right answers, but we can try and gain the best best what everybody system has to offer

[hightidelowshore]

I will agree with most of what you say here. no 1 system is right (i personaly hate ours as it feeds greed)

BUT, to reward those who refuse to do nothing, and expect more... FUCK NO!!!!

katrina hurt new orleans yes, but it DEVISTATED BILOXI. don't belive me? check it out... why don't you every hear about it? because they fixed it themselves. YES i said FIXED it, N.O. is still a wreck, with all the help, yet BIloxi has risen again. by not waiting on a hand out. (I live near, and seen it)

[rspaulding08]

How about taking this from my perspective (and i am a middle class student):

Obama is giving a $2500 credit for school, that's good. But in KY, which I live, he is trying to eliminate an aide group known as KHEAA. Each year in high school good grades mean free money toward school. I have $2300 from HS. Since I'm going to be a teacher, I also can apply for a $5000 annual Teacher Scholarship from KHEAA. If that's the case he can have the $2500 creit back. I'd rather take $7300 KHEAA offers.

[alyaly8545655]

you should reform the public education system

cause it sucks

i feel like school is getting in the way of my education

and its not a good feeling

[ibmeruu]

He is right,Cut Out Sallie Mae and Deal with Students directly.

[KomodoVistas]

More money from the government? Does Obama have any creative ideas other than dishing out money we don't have?

[EnterNameHere55]

ur right komodo he should just cut taxes oh wait that dosnt work! its either spend money or basicly do nothing what do u want him to do

[waltermh111]

people that get higher paying jobs pay more taxes so this pays back in the long run, or can you not think past today?

Also, having our own citizens accomplishing the higher skilled tasks of the future means less dependence on other countries for our science, technology, and business innovations.

[cool3ni]

A better question is do you have any other creative ideas

[Daswede92]

Apparently Obama is pretty clever.

Great decision

[hightidelowshore]

regardless of democrat or republican, this is just BAD!!!!

we don't need the gov giving loans

[capus22]

why not?

[hightidelowshore]

because... the gov is an entity that is supposed to be for the people, by the people. NOT making loans, giving away money to companies, TAKING MY MONEY!!!! if you ever work for the gov when you grow up, you will understand i'm sure!

[waltermh111]

yes, we need people staying at the bottom rung, smart move, must benefit you greatly to keep people down.

Besides, assuming people pay back the loans with the job they get froim the college degree, it means profit for the gov.

[hightidelowshore]

is the way to help them up? by giving them crap loans and dictating what they do with that money.

but sure let those people who are working right now to pay for the loan they got from sallie mae (ME!) also pay for those idiots who will waste time doing nothing in college...

"means profit for the gov"????? wtf are you sure you want the gov turning a profit? wait what would that make the gov? a company? should it give you a great job you don't deserve and health care also? nm i'm sure it does

[waltermh111]

Yes, you help them out by giving them college loans so they can educate themselves and get higher paying jobs. How is that not a worthy way to help them up?

That benefits you and me also as it puts more smart people into the workplace trying to raise the GDP of america. Isnt that what capitalists love, higher GDPs?

I want gov making good financial decisions that will pay off in the long run, in profit or other benefits.

Even non-profit orgs can make profit, its just limited how it uses it

[dportugues]

oo yea sure! just keep giving all your money away to sallie mae!!!! let them bombard you with penalty fees and high interest!! sure why not... let your 30,000 loan turn into 100,000 go ahead!! PRIVATE LOANS ARE A SCAM!!!!!! I think this is a good idea!! It's a start, We CANNOT have more and more student force to take out private loans!!!

[hightidelowshore]

I HATE sallie mae, i'm paying that bitch ALOT of money right now!!!

BUT! that is the way CAPITOLISM works, the best method will prevail, and the others will fall the wayside. I disagree with even the "need" for college, but again, if you think the gov. can get anything right, well just point at it for me...

I guess you are for eliminating capitalisim, and making the gov control everything... kinda like they did for Katrina... FEMA is part of the gov. and the gov is fuc*ed up!

[hightidelowshore]

what most of you don't realize is that there are "bottom rung" jobs that must be done. You want everyone working as a CEO of some huge company... that is just IMPOSSIBLE.

someone will need fries with that #4 combo, and someone will need the trash removed. In a world that is built like america is, "utopia" is NOT possible.

you want to change the system? me 2! but MORE gov sucking money out of my pocket isn't the way to do it!! and no, i don't make lots of money in fact i'm in the poor bracket

[waltermh111]

First, your right, there are bottom rungs, but that doesnt mean everybody is worthless and deserves to rot in mysery. Some of us think that everybody deserves a chance to live decently and any hardworking person at any job deserves to enjoy life a little.

Many of us dont think that CEOs are worth 1000x+ the people at the bottom rung.

It is sad how the poor follow the repubs and business.

You get further into your hole everytime repubs are in power. Peoples are better under almost every dem.

[gameshowguy2000]

I agree..and who says the Democrats raise taxes? They cut taxes for all but the rich.

[hightidelowshore]

democrats are the only ones who say they cut taxes for the rich. HISTORY shows you to be wrong. learn more then whats on the biased news. (fox or cnn or abc or msnbc. doesn't matter. when they offer a point of view on the matter at hand, even a passive one like a guest. its a biased one!)

democrats are KNOWN, even to democrats to raise taxes.

Obama is doing just that, but its a backdoor kinda way. Just find out how things will be paid for, and look for the way that money is being raised!

[hightidelowshore]

any HARD working person DOES deserve to enjoy life. Now find one who isn't!!!!! This system is set up to help those who DON'T help themselves. It keeps the ones doing nothing doing just that, while the ones paying for them (i.e. me, you, and my boss, and the people who hire my boss) keep struggling to stay a float.

A CEO is worth what he is paid due to the market we live in. so he is worth more. hate life for you!

As a human life he has more value then someone who isn't working. its a fact!

[RICHANDROS]

PELL woooow

[ghiban137]

not unless your an entrepreneur already well on his way to millions . . . get an education, not a piece of paper

[G0D9]

the problem is allowing stupid people into college. Capable people should have most of their college tuition paid for and the liberal arts douche bags shouldn't be allowed in. Go to any college/university and half the people there don't belong there.

[VictimOfBoredom]

Funny, considering some of the brightest people I know are interested in the liberal arts, and some of the most shallow, simple-minded people I know are the ones pursuing the "money majors".

[pozzerbob]

I completely agree, I have a B.S in electrical engineering working on master's, and my family still acts like im a failure for not going to "business school"

[Pighood]

That's because liberals are simply superior beings.

[hightidelowshore]

Liberals are whiney, sour puss cry babies, who complain anytime something doesn't go thier way.

If by liberal you mean "non-religous" then yes your right, bible thumpers are morons, but thats not what a liberal (these days) is.

The modern liberal is nothing more then a snivvling, incapable, shoe licker begging the federal gov to save them from the big scary world that is realitiy.

while that big scary world is mostly scary due to the lack of freedom your stupid fucking gov pushes on people

[Daenyris]

lol, fail. You clearly don't understand the point of college yourself.

[soccerrhcpchic]

Do you have any idea what your talking about? Obviously not..

[stenchinator]

Well it isn't hard to imagine what kind of studies you're in, G0D9.

[NZartfuldando]

Haha. I had to laugh at that. Americans will never be "The best educated, most repetitive workforce in the world".

[CIAwannab]

what makes you think that?

[Daenyris]

Why not?

[ghiban137]

Laugh all you want. The US has the best universities, most creative entrepreneurs, and largest companies in the world. I wonder where the website you are on right now came from . . . where are you from exactly?

[jazztrio2008]

actually they already give pell grants.. thank you president Obama.. i am a ungoing college student and thats what I do for my life, attending AIU online a AA business major, and then going to get my BA in Music

[clash360]

Let's debate the 57 states.

[Tylerwasnth3r3]

the government will do no good to education FUCK the feds

[sugarpuddin88]

Gimme a Break!

After the Tax Payer bailed out Merrill Lynch, they turned around and gave their executives 3.6 billion in Christmas Bonuses!

AIG awarded $165 million in bonuses to its executives after accepting a $173 billion government bailout

UBS bank was fined 700 million for tax evasion; then Congress gives them 5 billion free tax payer dollars

102 tril SS & medicare

25 tril TARP & bailouts

53 tril from other trusts

Every single American man, woman & child owes over $600K in FED Gov debt

[ooogmorg]

well guess what NONE OF THAT MONEY EVER EVEN EXISTED! ITS ALL JUST CREDIT IF WE HAD FUCKING BILLS WE WOULDNT BE IN THIS PROBLEM!

[sugarpuddin88]

It is as real as your 401K, your IRAs, your Savings; your tax bill every year!

All the tax on wages is not enough to pay the interest owed to the privately owned FED Reserve Bank

If America printed its own money, it would owe no interest & need not collect illegal tax on direct wages

[staticbb]

woooow i didn't know he wanted to cut out the lenders.

Thats interesting....very interesting. All i know is it's not hard to get a loan, and it's even less hard to get into a college/university. This country has the funding down pretty well.

The problem is getting those dumb asses through high school.

[Rigondeaux]

Great Job Obama....keep it up!

[loskingz]

i believe in securing Shasha and Malia college money from the government so i won't have to work once i'm out of office.

How's this for a letter of recommendation from the former President of the USA