Obama student loan plan makes a new generation slaves to the government

President Obama once again turned to his trusty pen on Monday, signing an executive order aimed at easing the repayment guidelines on student loans. The Pay As You Earn program will cap monthly student loan repayments at 10% of income and forgive any unpaid debt after 20 years. On radio this morning, Glenn reacted to the madness of the policy.

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“That’s fantastic,” Glenn said. “You know who that works for? Not only students, but all of the schools because they can just keep charging all they want. And we’ll just keep printing the money to pay for those. And then nobody actually has to pay for it. The Federal Reserve notes just paid for it.”

According to POLITICO:

The action makes those borrowers eligible for the administration’s Pay As You Earn program by expanding on a 2010 law that capped repayments for newer loans but excluded borrowers who took out loans before October 2007 or who stopped borrowing by October 2011.


For a 2009 college graduate earning $39,000 a year but carrying $26,500 in loan debt, the plan would reduce monthly repayments by $126 per month and $1,500 a year compared to the standard repayment plan, the White House said.

The plan is expected to be in place by December 2015, after the Education Department puts the change into effect through the regulatory process.

The overall mindset about borrowing and debt in this country has shifted so far in the last half century alone. As Glenn explained, he didn’t go to college because his family simply couldn’t afford it. That same attitude does not exist today.

“I didn’t go to college. Why? I couldn’t afford it… I couldn’t afford to go to the community college. We were taught we don’t take on debt,” Glenn said. “So don’t come to me and tell me,’ Boohoo, I can’t pay my debt.’ I know. Maybe you shouldn’t have taken out that debt.”

The Obama Administration knows full well that the cost of higher education is completely out-of-control, which is why the government is in the student loan business to begin with. But, at Stu pointed out, that unattainable cost and subsequent government subsidy plays right into the progressive endgame.

“Isn’t this a great example too of something we’ve talked about for a million years, which was that split back in the day about between the Weather Underground-types and the progressives,” Stu asked. “What Progressives, of course, want is: Everybody gets free college. They want everyone to never pay a bill at all, and it all goes through the government. So indoctrinate everybody on your dime. Right?”

“So instead of building it that way and having a huge debate where it’s really difficult to try to get these things pushed [through]… they take out all the moral hazard of ever having any cost to it,” he continued. “So now you have only victims you’re dealing with. You have people where you’re saying, ‘Well, these people are having a tough time. They lost their job. Of course, they can’t pay these loans back.’”

Front page image courtesy of the AP

  • Libs R Stupid

    what does Obama know about student loan debt? He was given a free ride probably by applying as a disadvantaged foreign exchange student. Why else would he have his academic records sealed?

    • BevM

      An Indonesian student at that. And people STILL won’t believe he’s not eligible to be POTUS. He’s not even a citizen, nor does he act like one.

      • BlueMN

        LOL Hilarious!

        • Mel Walters

          No it’s not funny!

      • Dj Nude

        Libs really are stupid like these liberal republicans that created trillions of dollars in debt with their mindless spending on illegal wars and throwing money to huge corporations while raising taxes on 99% of Americans but reducing taxes on the super rich……

        • Anonymous

          “while raising taxes on 99% of Americans but reducing taxes on the super rich……”
          Please elaborate. How exactly did they raise taxes on 99% of Americans when 40+ % aren’t paying any federal income taxes at all?

    • Jared Bargel

      Sounds like greedy middle aged white man who is afraid of colored folks. Thanks Libs r Stupid

    • Anonymous

      What he knows about it is that he accumulated it and paid it off. Very few people go to Harvard law school for free. And what’s all the fuss about? People now have to pay less per month, but they still have to pay. It’s an economic stimulus. With the money saved, young people can buy homes, get married (even the gay ones. bet you love that)–buy stuff to keep this consumer society afloat. While beckites can rant and rave about overpriced college (I agree), personal responsibility, freeloading students (don’t agree), debt and more debt, the current reality is that a generation of people are underwater and if the job creators don’t get to creating jobs the lack of spending power and meaningful employment will kill this country economically.

      • Anonymous

        Are you sure that he accumulated debt and then paid it off? I think the problem is that if you can drag it out long enough then the debt is forgiven. Lots of people think that’s a wonderful idea until they get that 1099C in the mail at tax time. Then they find out that all of the debt that was forgiven suddenly became income with no tax $$$ withheld. Often those people suddenly have a new debt to the IRS.

        • JeriKay Eldeen

          Not all forgiven student loan debt becomes income. If you are in certain fields and positions (such as medical and not for proftit) your debt is foregiven after 10 years and it does NOT become income. At least, that’s what it is now. The laws are always subject to change.

          • Anonymous

            True. There are fields that you must work a certain number of years in and the debt is forgiven without further action. Most of those borrowers are aware of that when the borrow it. For those that can’t find a job in their field and are working as a cashier at the local grocery store and are making minimal payments based on their annual income a $70K sudden income for debt forgiveness is shocking. That tax liability often becomes a heavier burden than the loan payments were.

  • Jeff Lambeau

    All I have to say to that, is this: https://imgur.com/gallery/5GvWV

    • BlueMN

      Nice try “Jeff” or whatever your real name is “comrade.” Everyone knows Scandinavians are repressed and enslaved by their communist knotsy big brother gubbermints. Why else would they have to build oceans and glaciers around them to keep them from escaping?

      • Anonymous

        Nice try “BlueMN”. I
        t’s the old “everyone knows” gambit to making it up.

        You cwazy wabbit you.

    • Ivan Rohde
      • BlueMN

        Good article, did you read the whole thing or just skim the first paragraph or two?

        “While Swedish students end up with relatively high levels of debt, the monthly costs of carrying that debt are pretty cheap.”

        “In other words, the Swedish system of student debt is financially manageable and sets students up to begin their lives as viable adults separate from their parents.”

        “Compare that to the US system, where high levels of debt are increasingly impeding young people from taking on the trappings of adulthood. A recent study by the Federal Reserve Bank of New York found those with student debt retreating from purchases of cars and homes, for example.”

        • Anonymous

          Unfortunately a lot of the debt that students acquire is for standard of living and not for school expenses. I personally know someone that got behind in her house payments and was about to be foreclosed on. So, her daughter borrowed additional on her student loans to bring the mortgage current. I’m certain that is not what these loans are meant for, and why should ‘student debt’ to her be forgiven when it wasn’t debt for her education? Perhaps they can’t afford things later in life because they overindulged in their early years and now it’s time to pay the piper?

  • Crassus

    Nothing but rank pandering by Odungheap to younger voters. I don’t want to hear any other explanation.

    • Anonymous

      Crack ass you are a massive dung heap.

  • landofaahs

    This will come at the expense of future taxpayers many of whom borrowed money for student loans and paid theirs off. So they will be stuck paying for the irresponsible borrowers. How is that just or fair?

    • amdg

      My kids got loans & they paid them off first, struggling to do so before they got into debt buying a home.

    • BevM

      “Fair” ISN’T in Barry Hussein’s vocabulary. Fair SHARE is. But only if HE thinks it’s a FAIR SHARE. Future taxpayers, even those not born yet, are already so indebted they won’t be able to afford to buy a bicycle, let alone a car. Socialism sucks and it sucks more that people don’t see it’s ALREADY HERE. This is just another example.
      Doesn’t make much sense, but neither does he.

  • Trevor White

    If current trends continue, colleges will be charging a million bucks per credit hour within the next quarter century, just for a bachelor’s degree. But by then, a bachelor’s won’t get students anywhere, and they’ll have to go to grad school at five million bucks a credit.

    All billed to the taxpayers, of course.

    Economics will eventually catch up to that scheme, and once it collapses, America will be left with a populace too uneducated to compete internationally.

    Or–perhaps this is the plan?–too uneducated to understand what they’re voting for on Election Day.

    • https://m.facebook.com/pages/Parkinsons-Resource-Center-of-Middle-Tennessee/510095885786101?_rdr Tara Sawyer Garoutte

      Later, it’s already started. My degree field is accounting and I cannot get an entry level position without a bachelor’s. These jobs pay less than I make now. In order to work in my field making what I make now I need a Masters in business.

    • Anonymous

      And where did you get your education?
      Absurd assertions indicate lack of education not more.
      More of the insane pallaver: Obama is trying to dumb down the electorate.
      Reading the comments on this site indicate he seems to have already succeeded.

  • Tonia McBride

    I would pretend that I expect the White House to have a firmer grip on the basic rules of economics, but I’m really over that level of naivete.

    • Anonymous

      They have a grip of economics. Their choices demonstrate they want to destroy the value of the dollar.

      • BevM

        And almost there.

    • John Scott

      They make up economics as they go. Its mostly foregive the helpless and make the rest pay. Trouble is that is just creating more helpless. Obama has a ideology that is so skewed and un workable that even some Democrat’s realize this. Obama is writing checks this Country can never pay for.

    • Lucian

      I love comments like yours. BANG!

    • Anonymous

      economics is a bunk science. it’s a social science, or, better yet, more akin to the humanities. It’s political economy, bound up with public policy and cultural and social paradigms. So, chief economist McBride, what’s your solution to the student debt crisis? And it really is a crisis. Can this country survive a generation with no spending power?

      • Tonia McBride

        I know this is harsh to hear, but the secret is to stop giving kids money. In the twenty years since I started college the tuition at the state school I attended has increased about 400%. We told kids that everyone who can scratch up the basic admission requirements should go to a four-year college and not worry about what it cost. We put the demand curve on steroids in a market where supply cannot adjust rapidly. When I started school, a smart person could still work full-time all summer and part-time during the school year and pay their tuition, books, room and board for a state school. Almost nobody did, because we were stupid kids, but there was nothing stopping us. Now a person would be hard-pressed to earn even enough to pay their tuition, say nothing of paying for their own living expenses, too. If you want to go to school on the my dime, get on the GI bill (which I am hugely for, btw).

        I know this doesn’t address your real question, but we have to stop growing the student debt crisis before we can fix the existing debt. From a personal perspective, forgiving the debt of every one who has been in repayment for 20 years has a LOT of appeal. I’m pretty sure I’m going to be paying those things off until I die. From a moral and logical perspective, I know that what we need is the government out of the loop. Sell the whole lot to the highest bidder. Accept that a lot of people will file bankruptcy because they have a huge debt with no solid asset behind it.

        I imagine you are picturing a world full of nasty debt-collections and uneducated morons, but market forces don’t work that way. As I mentioned, educational supply does not adjust easily. Without the student loan and Pell grant programs, schools are going to have to become lean and mean just like every other business that’s survived the last decade or so. Places like Harvard will have to start using their endowments to pay tuition for financially disadvantaged students (don’t worry. They already have so much money that they could pay every Harvard student’s tuition from here to eternity and never touch the principle). Industries that need highly skilled workers will pony up money for scholarships and work-study programs (no, really. It’s already starting to happen). Industries that just like how that piece of paper looks on paper will realize it’s, well, just a piece of paper and start doing more internal training.

        Personally, I think the four-year model of education has been on life support for years, anyway. The current economy of information and transformation requires people who are constantly increasing their knowledge and amassing new skills. Everybody with any ambition should always be taking a class or at least studying a subject (we aren’t all classroom learners). There shouldn’t be a position in society that you can only reach by spending decades in the classroom. Unfortunately, we’ve got the inmates running the asylum when it comes to medicine, law and education.

  • Pam Van Gelder Kragt

    I couldn’t afford a school loan either… now I can’t get another job because I don’t have that magical piece of paper… a degree! I am a smart, talented, hard working woman willing to do almost any job but because my resume doesn’t show a degree – some won’t even look at it. Educational Discrimination!?!?
    Look at ME… I have qualities a piece of paper can’t even begin to cover!

    • Bill28

      I ran into the same issue but not to worry. The requirement for a 4 year degree is not universal. I found a great job. What needs to change in the overall level
      of opportunity. When our economy is in the shape it is currently in, the
      employment market is a buyer’s market and that makes it much tougher on all
      levels of employment. Just look at the ND area and see that Walmart is paying $17 – $20 per hour. Supply and demand at it’s best.

    • Lucian

      Im the same way, sister. I understand. And I can guarantee you I could do many, many jobs better than the people doing them now.

    • Anonymous

      Consider starting your own business and get away from working for others that look for that degree.

    • Dharmapaalini Nithyananda

      I worked my way through a worthless PhD. Went back and got an RN so I could get a job. Now, McDonald’s pays more than caring for the elderly and hopeless. Don’t mourn the loss of “the paper”; the problem is much more complicated.

    • Anonymous

      I hear you on that! Same here. Out of work for 2 years now, laid off Dec. 2012. My background is varied in the medical field. Which means, I have done Customer Service, phones, I can handle computers, do EMR, billing, etc and my hospital experience is varied too. As in transporting patients, handling their attached equipment and knowing what to do, Basic Life Support, Housekeeping, you name it. And I am literally not being given a chance. I have applied everywhere, not just the medical field. I mean really, what do these employers really want? I could go on, but won’t. I have the EXPERIENCE, the places I apply at probably are NOT even looking at my application or resume once they SEE that I have been out of work since Dec. 2012.

  • Anonymous

    Approximately three out of four Americans who PAY TAXES don’t have a college degree. These are the “millionaires” who will get to pay for the balances of the college loans Mr. Obama will allow to be charged off after 10 or 20 years.

    Note: this Obama logic can be applied to anything: buying a house you cannot afford to pay for, buying a car too expensive to pay for. This is also the Obamacare healthcare premium logic: if you cannot “afford” to purchase the gold-plated mandates of Obamacare, we’ll make other American workers (yeah, more millionaires) pay for your premiums.

    We are now a state where the best paying game in town is figuring out how to make other citizens pay for what we want.

  • Todd Purcell

    As a 2012 college grad (MBA & BS degrees) who has yet to receive a full time position offer that was not commission only pay, I truly disagree with this program. I fully intend to pay my full debt back because this is the choice I made and my obligation for those choices. I didn’t attend an Ivy League school but I accumulated over $100,000 in debt. I want a program thar encourages employment not handouts.

    • Anonymous

      That’s because you have a sense of personal responsibility and honor your commitments. You will do well with those qualities!

    • Malachi

      Not pointing at you, Todd, but I need to ask if you can represent folks in your position. Why do people go to colleges that require $100 grand of debt? There are hundreds of community colleges that are still in the $3000/semester range, which is $25K for the whole degree! Why don’t more people choose this option vs. the humongous and expensive universities?

      I actually worked at a minimum-wage job for 30 hrs/wk, shared a small house with another college student, and paid my way through life AND college for four years, getting a bachelors in Business at my local community college. This whole national crises is something I don’t think would exist if people would simply make different choices.

      • Anonymous

        I can answer the question of why folks rack up 100K in student debt – because you and I are paying for it. They can live the good life of a professional rather than a starving college student and they are told not to worry because they will be able to pay it back with the high paying job they will be getting with the degree. Job is not there. Universities must tell their students that lie so the will continue to pay the outragous fees, students must continue to pay the fees because that is what society tells them to do and it is easy. It is the way credit works – it is great til it is time to pay the piper then suddenly people realize how much money they have just spent.

      • Anonymous

        At least in California community colleges only offer AA (Associate of Arts) degrees, not the BA and certainly not the MA.

    • BevM

      Best of luck to you. Hopefully when we get a real president and more people realize the Progressive agenda is REgressive, not PROgressive, maybe America can start to get to a better place. But as long as people keep electing the same politicians, nothing will ever change. (SC gave Lindsey Grahmnesty the nomination AGAIN – another R/D wolf in sheep’s clothing.) A few Progressive Senators in red states are worried about their next election this fall – ONLY about their election, NOT about what they’ve done or/and can do FOR America. As long as we have the same crooks in DC and no one stops Barry Hussein’s acts of treason, the job outlook doesn’t look good. I’m not trying to discourage you, but I’m trying to wish you luck, while at the same time, encourage people to VOTE OUT INCUMBENTS!! THAT is a lot of the problem. Barry Hussein’s done a lot of damage, destroyed the job market. And the ones currently in CONgress have done NOTHING to stop him.

  • Pat OBrien

    President Obama, Federal Government,
    I would rather you not tell me how I am going to pay off my debts in the future, and I would demand you stay out of education and not give the colleges(especially since I currently attend one) more of a reason to raise tuition.
    A current college student.

  • Chelsea Scarpuzzi

    My generation is caught between a rock and a hard place with this administration. First, tuition is increasing because funding for higher education is being cut. Second, the interest rates on loans are rising and there is no “grandfather clause” to protect those already borrowed from rising. Third, we cannot get jobs without a degree that provides the income needed to pay back what has already been borrowed so we must continue to completion, only borrowing more. Then, as we graduated, the job market plummeted and has yet to recover leaving us with loads of debt and not a promise of a future. Fortunately, I spent my initial 4 years on a full ride scholarship. I thought that I would continue for my masters, but had to withdraw after a year because I knew I would not be able to afford a loan payment had I continued. Thankfully, I am happy in my job and can afford my loan repayment on a 10 year plan in which I am paying back twice as much as I borrowed. Hopefully I can begin paying additional toward the principle once I start saving some of my salary. There is really “no win” for my generation wishing to better themselves so that they can contribute to this society.

    • Tonia McBride

      Tuition isn’t increasing because funds are being cut. Tuition is increasing because there’s still grant and loan money those ticks haven’t sucked up yet. There is NO SUCH THING AS FULLY FUNDED. There will always be another program or service someone thinks is vital to education. How much of your tuition and fees do you think pays for actual classrooms and teachers? How much of it for administrators and other bureaucrats? How much for niche programs that only serve a very small percentage of students? How much of your professors’ time is wasted by students who are just floating by on someone else’s dime? This is the most straight forward, econ 101 kind of issue ever. In a situation where supply is slow to adjust, flooding money into demand will always raise prices.

  • ScathArach

    I think the biggest point of all this is that if the economy was really recovering the jobs would be there and moves like this would not be necessary. Promote small business growth keep minimum wage where it is and provide jobs not handouts. Reform Wellfare drastically so people have to actually be doing something to get the money. And after getting paid so little for the work they will find a job that is not a wellfare qualification

    • Anonymous

      The majority of people receiving welfare are either the elderly and disabled or both.

      Fact: 75% of welfare entitlements go to the elderly or disabled.

      Only about 9 percent of all entitlement benefits go toward non-elderly, non-disabled households without jobs (and much of that involves health care and unemployment insurance):

      The belief that most welfare recipients are able bodied is another Reagan era myth (aka lie) that is refuted by facts (one of Reagan’s stupid things).

      SRC: http://www.washingtonpost.com/blogs/wonkblog/wp/2012/09/18/who-receives-benefits-from-the-federal-government-in-six-charts/

      Nit: It’s spelled ‘welfare’ not ‘wellfare’

  • Cynthia Ogden Chappell

    The average student loan debt is less than the cost of most new cars. The spoiled ass graduates are all probably driving one and making payments that are much higher than their loan payments. Now we all have to pick up the difference for the entitlement generation. They get Harvard educations and have to pay only a small portion of that back. That is what I call a war on the middle class.

  • Vienta76

    I don’t know about you all, but I’m going to encourage my kiddos to learn a skill, therefore avoiding college altogether.

  • Et Th
  • Kimi

    I totally agree with you Glenn! My son got a full scholarship to a community college but isn’t going to be transferring to a university because we simply can’t afford it and refuse to have him take loans that will leave him owing $30,000 when he gets out 3 years later….and that’s AFTER a $27,000 per year scholarship! Ridiculous!

  • Aaron Paschall

    Got it backwards – college tuitions are through the roof BECAUSE the government is involved. I admit – my student loans are never going to be paid off. I fell for the line that every student needed to go to college, no matter the cost – it was an investment which would pay for itself. It’s no longer even remotely true, even as the requirement to HAVE a degree is more and more a basic level entry. Nor is it feasible to simply ‘work your way through college’ as it once was. It’s a nasty vice which many people are caught in, and like the Social Security boondoggle, I’m not sure there’s an answer which will make everyone happy. Someone’s going to be left holding the short end of the stick.

  • A Non-wealthy Conservative Rep

    I work at a community college. I can’t believe how many students already receive maximum Pell grants and also get huge student loans. A student who is taking full time classes (15 credit hours per semester) often gets a max of $2822.00 per semester in Pell grant credit. If the student applies early in the year, they also generally qualify for another $500.00 in grants. That is a total of $3322.00 per semester. The total tuition for this full-time student is around $2,160.00 and books are usually under $1000.00 bought new (they can be rented to save $). This leaves an excess of at least $162.00 that the student can use for gas, notebooks, pens, etc. So why do I then see the student apply for huge student loans?
    I once crossed paths with a student who was making a complaint about having to wait too long for her student loan. When researching the problem, I found that she had a total of $65,000 in student loan debt at several different schools and still had not even completed an associates degree. How in the world is she going to pay back this much debt? Oh, that’s right. She just won’t. The government will just keep letting this happen and this will be the next “bail out” crisis (just like the mortgage loans that were approved for people who couldn’t afford them).

    • Kelly McDonald Newell

      I have worked in Financial Aid almost 20 years in both a community college and a private university setting. The vast majority of students clamour and beat down our door each term wondering “where’s my refund??”. If loan limits are above what the school charges for tuition and fees, they can have the balance in a refund for related educational* expenses (there is absolutely NO check on how they use this* money). Non-wealthy is right – I see it all the time – $50K plus in loan debt and no degree to show for it. We try and limit their borrowing but they have a “right” to borrow it and we have to let them if they ask. It’s very frustrating and Non-wealthy nailed it – it’s the next mortgage/bail out crisis. Been saying it for years.

      • A Non-wealthy Conservative Rep

        Thanks for backing me up on this Kelly. I don’t hold it against anyone to borrow enough money to get a college degree and then pay it back. I do think that people who really want to better themselves should have the opportunity but I see far too many that are just working the system. Sometimes I feel like I work in a public aid office instead of a higher learning institution.

    • Anonymous

      The question I would pose is was the student really eligible?
      Does your work in a community college involve working in administration?
      So you can document your case. If so, I would take it the administration.
      This may be a case of fraud.

      It does seem problematic that a student could receive $65K and not receive an AA. But then again I would like to see your facts. Anecdotes are fun but can be entirely invented depending on one’s motives.

  • Tyree Langston

    Everyone is missing the real scam, you think Obama wants to help people get out of their debt lmao! Pay as you go only addresses the payment amount and not the interest, so while you pay lower payments your loan is growing! You’ll pay more then you financed but you’ll never pay it off only to be taxed 20 yrs later on what’s discharged! So to all you responsible, upright, never had a bad break cause your so much better then those who have quit complaining Obama’s not helping anyone but the loan companies! This is only a way to keep people in bondage to debt, so don’t fret, you will ALWAYS be able to talk down on those who aren’t as good of Americans as you all!

  • A Non-wealthy Conservative Rep

    Another problem with this is that they make it easy for the students to obtain loans but often if the student does not complete their semester, the lender pulls the loan back from the college. This leaves the college to collect the loan money from the student. So the school is being penalized for the government being so open-handed. As you can well imagine, this in turn must have an impact on tuition rates.

  • Kait Nicole

    It’s not booo hoooo don’t take out that debt in the first place. Kids are 17 or 18 when they apply or sign the papers to borrow. What 17 or 18 year old kid thinks that they shouldn’t go to college because it might bring unplayable debt upon them 4-6 years later. Kids go to college for a brighter future because it is instilled in them to do so by all teacher since kindergarten. The bottom line is that the economy should have jobs out there so that people are able to pay back. Kids don’t go to school to fail and not find a job. They do it because they are ambitious. Don’t blame the cattle being herded blindly.

  • Anonymous

    If you can’t afford to go to community college, you either have misplaced priorities or you completely suck at trying to set a budget.
    Under Beck’s logic- you would never own a home unless you could pay cash for it.

  • Robert Lefebvre

    More peoples Obama can get owing to the government just shows how hard he is trying to make the US a socialist country.

  • John Scott

    Trouble is the student loan debt is not the only kind of debt these young people get into trouble with. What are we teaching kids today about responsibility? Its OK to get in over your head in debt. Just file bankruptcy, or have the government forgive your loans? Really? What’s next? Paying people for fake jobs so they get a paycheck? So they don’t feel bad. The government knows these student loans are the next bubble to hurt the economy. But this won’t help anything.

  • zendiK

    I have student loan debt, and I have no problem paying it. I incurred that debt in a mutual transaction because I saw the benefits outweigh the cost. I hate these kids who take on student loans and then whine about them.

    The real discussion is controlling the cost of higher education. But all the liberal professors would freak out so Obama can’t do that.

  • Andrew

    I’m a mechanical engineering major. I just got my first job offer. It was quite
    substantial. 90th percentile of what most MEs make in the same area. The school
    I go to is also incredibly renowned with this company and other’s in the same
    industry. About 70k a year is what they offered me, plus benefits. But that’s
    nothing compared to the over $200,000 it costs to go to this school for four
    years. In 20 years paying 10% of my income per year, and lets say I start
    making 100k after 10 years in the business, with interest on my loans at 7%, I
    would then owe $425000 at the end, 225000 more than what I started with.

    For the hypothetical student with only 26k in debt, 10% of their income will
    pay off their loans within 10 years, easily. If I hadn’t received scholarships
    and grants, it would have been impossible for me to go to school.

    And before anyone says “go to a cheaper school”, here’s the
    alternative. Let’s look at UNO. $20,000 total in tuition. This school only
    comes with $50,000 starting salary. My school? 65000

    Why is that?

    Faculty ratio. UNO is at 21:1. That’s among the WORST in the US! Mine is 13:1.
    Do you know what that means? I can comfortably ask questions in and out of
    class. My professors hold after hour study sessions. They ensure a quality
    education and give you every opportunity to learn. Schools like mine breed
    engineers that are meticulous, and thorough. And occasionally arrogant.

    I could go on and on about research opportunities, competitions, campus life,
    service work, and more.

    Ultimately the question is, who do you want making sure that
    when your plane hits turbulence, the aluminum skin doesn’t shear? What kind of
    engineer do you want designing the safety features of your car, you know, the
    one you cart your family to soccer practice in? I’m not saying that a cheaper
    school can’t produce good engineers, not at all. I’m trying to say you can’t
    put a price on a good education that churns out individuals that will spend
    their life bettering the world.

    What I am saying is that having an educated population should be our priority.

    The alternative to all this? We outsource. We lose any remaining intellectual
    prowess in this country. We continue to be stupid and ignorant Americans.

    With this bit of legislature, there will be more American mechanical engineers
    now that they don’t have to pay a dime more than 170,000 after 20 years.

    Glenn, I would much rather live in an educated America.

    Now I understand that this legislature is just a bandaid. If it isn’t, it
    should be.

    It ought to be limited to those who’s interest on their student loan debt
    exceeds 10% of their projected annual income.

    What really needs to happen for the future is to figure out a way to make the
    dollar more valuable to the universities. Let’s figure out a way to make a
    tuition any higher than 30,000 unnecessary.

    Until then, please understand that this decision will allow a lot of my friends
    to continue their intellectual pursuits and become successful in their fields
    without a crippling debt that even declaring bankruptcy will not erase.

    • Anonymous

      You are equating well educated with intelligent. They are not the same.
      Just because you will be happy to never pay off your loans and let me and others pay it off for you, does not mean other MEs share your low morals. BTW, you did not have to go to the most expensive school to get a good paying job – you just have to be a good employee. There are many state schools that have ME programs where the starting salaries are above your 70K/yr. Georgia Tech was named the best tuition value – it costs $22,000/semester out of state, instate is $12,000, includes room/board, etc. It is common for ME students to work a co op job and make almost as much as their instate tuition. Get off your pedestal and join the real world. You are not as important as you think just because you think you have a piece of paper from the only school in the country. Many students also go two years community college, transfer in and – low and behold- they still get that piece of paper from a great school but at a fraction of the cost. I suspect you chose to take loans because you wanted to play while in school and it was easy money. Now it is time to pay it back – don’t let the gov make me and others pay for your good times.

    • BevM

      Why should WE have to pay for ANYONE’S college tuition? Why should WE have to support our own households AND pay for “a lot of your friends to continue their intellectual pursuits and become successful in their fields”? If they can’t afford “their fields” perhaps they should choose a career choice for which THEY can afford the tuition. It’s called PAYING YOUR OWN WAY AND NOT EXPECTING TAXPAYERS TO FOOT YOUR BILL. Grown up stuff “arrogant intellectuals” won’t likely understand because they have a $200k degree that you want US to pay for.

      You have the “arrogant” part right. That’s crystal clear.

  • Anonymous

    I don’t understand all of this but I know one thing: I don’t agree with the debt being forgiven after 20 years! I paid my student loan off, gradually and steadily, and I expect other Americans to do the same. I don’t mind capping monthly payments to a liveable level but if a person takes out a loan, they need to pay it back, period! If it takes a long time, so be it! How can the President possibly believe these people are not responsible for the loans THEY took out?

    • BevM

      He wants to add it to the debt. He WANTS to destroy America and is doing a fine job. ANYONE that takes out a loan should have to pay it back but he’d rather they be indebted to the govt. In HIS world, no one is responsible for what they do. Haven’t you figured that out yet?

  • Kenneth Browning

    So conservatives, which is it? You say people who work minimum wage jobs and want higher minimum wage should go to college and make something of themselves. But now you say these people shouldn’t go to college if they can’t afford it. More hypocrisy from conservatives.

    • Anonymous

      No, you miss the point. If a person has to borrow to go to college then do so, but don’t then turn around and expect the rest of us to pick up your tab. As for making something of yourself, a solid trades education will do more for your future than a BA or MA in almost any field you can think of.

    • BevM

      Who says “people who work minimum wage jobs and want higher MINIMUM wages…” Minimum wage was never supposed to be a way to make a living, it was to be a way for teenagers to learn how to hold down a job and make a paycheck. It’s been FORCED to be a way to make a living thanks to Barry Hussein’s Job KILLING POLICIES. The unemployment rate may be going down, that’s just how they’re manipulating the numbers and not counting those that gave up looking for jobs that don’t exist. Those 16-25 can’t find jobs, PERIOD. Adults are taking jobs that were always the jobs kids took, that’s what started the fight for higher minimum wages. Barry Hussein is the KING of HYPOCRISY. EVERYTHING he’s promised has turned out to be a lie. He’s the most racist, divisive man to ever usurp our White House. He’s acting as a dictator, CONSTANTLY “bypassing Congress” and “going it alone.” We have THREE branches of govt. for a reason. But HE has decided HE’S NOT GOING TO FOLLOW THE LAWS HE DOESN’T LIKE. He’s opened the southern borders to tens of thousands of illegals from not only Mexico but Central and South America and his AG is using tax dollars to get LAWYERS for them. No jobs for Americans but him and his Mafia Govt. keep bringing more ILLEGALS here to take our resources while WE struggle to make ends meet. The HYPOCRISY is the fact that HE’S A LIAR AND NOT A PRESIDENT. HE’S A DICTATOR. GET A FLIPPING CLUE, KENNETH.

      The BIGGEST hypocrisy is the fact that Barry Hussein took an Oath to uphold our Constitution and is trashing it more all the time. His plan to destroy America is working better than he could have ever hoped. Wake up and smell the Socialism.

  • Kelly McDonald Newell

    Also, does everyone remember when student loan rates were scheduled to rise and the dems pitched a fit? The increase was put in place TO PAY FOR THE COST OF OBAMACARE! The government taking over the loan program and eliminating the private sector (and therefore competition) from student lending was part of the AFFORDABLE CARE ACT.

    I borrowed and then worked 10 years to pay off my loan. Now I sit back and watch as these idiots scream for an increased minimum wage. I’m not going to get a equitable raise. So raising the minimum wage DECREASES the value of my advanced degree.

    Bunch of hooey because those in power want more power and they’re in a position to pander to those wanting something for nothing.

  • CandyGram

    My son has some huge student loans.A few were Federal. But he lived within his means and didn’t have all the latest and greatest toys so he could make his payments. He still lived paycheck to paycheck with an engineering degree and a good job. The government sold his loan to a private company because he was making the payments and the loan had value. However, that private company seemed to have lost some of the info that the government should have sent them so they started changing the requirements. They told him if he didn’t like it he should contact the government and get it cleared up…..ya right. So who do you talk to about that. These loan repayment changes are not for those that needed it. They let a lot of those go in order to right off loans for others. My son could have used some help too. But no, he took his contract seriously, knows personal responsibility and did and continues to make the payments rather than vacation.

    • A Non-wealthy Conservative Rep

      Your son is the exception to the rule. Kudos to you for teaching him well!

  • PennPatriot67

    This president is not inept. He knows what he is doing. Every move is calculated to weaken the United States. His policies have very specific economic and social consequences. He is a global socialist. His intention is to weaken the country in order to lay the foundation for an international currency and force the US to be subject to international governance. It’s brilliantlycalculated and he is executing the plan as intended. The USA is the only true obstacle to a globalist government.

    • BevM

      His “Fundamental Transformation” is almost complete. And you’re right, EVERYTHING that’s going on is planned and well executed. Just like the “sudden tens of thousands of immigrants that are on our southern border,” even children as young as 3 years old. He’s allowing illegals to stay and encouraging more to come. Cloward and Piven full boar. The system is already stressed, our debt has doubled in his five years and he keeps bringing more illegals from all of Central and South America while OUR TAX DOLLARS pay for lawyers for these illegal aliens. He’s created a humanitarian crisis on American soil with no plan to take care of them. And then he wants to add student loans to the debt.
      May he burn in hell.

      • Equis

        I agree there is no doubt in my mind. I wish more people would really see what’s happening inside their government and what’s happening all around them.

        • BevM

          There are SO MANY that call you the typical childish names when you try to tell them the truth, that Barry Hussein is doing all of this on purpose, that nothing is accidental, that he knew about ALL of the “phony scandals” long before he did something else so we would forget about the last one. The Taliban release, IMHO, is the most dangerous, but they’re all dangerous to America and to us. SO MANY need to be in prison. I just wonder why MILLIONS aren’t walking the streets of the District of CORRUPTION demanding they get out of OUR HOUSES and have them arrested for lawlessness.

          It blows me away, how many sheeple there STILL are, even after all he’s done since he “won” reelection in ’12. And that was a stolen victory. I have proof but it’s late and I must get to bed. I’ll tell you tomorrow if you want to know.

    • Equis

      I couldn’t agree with you more. This has been his intent all along and not enough people really comprehend his method of madness.

  • HoneyTree EvilEye

    So now prices can just be jacked up even higher so your 10% goes up more and they recoup what they really want by 10 or 20 years anyways because it’s the law.

  • Reeta Zowtiak

    I couldn’t afford to go to college either but I did it anyway. I took a loan and I paid it back, in full. It took me many years but I did it.

  • Jim

    Aren’t there 3 equal branches of government? Can’t the congress essentially veto an executive order? Can’t the Supreme Court declare it unconstitutional? Why do we just accept it? Why is there never a challenge? He’s not a king! Stop treating him like he is!

    • BevM

      If SCOTUS validated ObamaDOESN’TCareTAX, we can’t trust them on anything. And CONgress is ALL guilty of some kind of crime and therefore keep their mouths shut to save THEIR arses, SCREW US!! That’s why only the newer ones, mostly Tea Party types, are the ONLY ones that will challenge him, only to be shot down by the “leadership” in both parties. Boehner and Greid are both traitors and could care less about what their actions are doing to us. Those that dare to challenge Barry Hussein are either “racist” or “extremists”, helped by a complacent media.

    • Anonymous

      As Becky likes to admonish his listeners/viewers “do you homework Jim.”

      Let me help:

      Here’s a link to what “Executive Orders” including each Presidents use of them.


      Every President has issued them.

      An excerpt from the above wiki entry:

      There is no constitutional provision nor statute that explicitly permits executive orders. The term “executive power” Article II, Section 1,Clause 1 of the Constitution, refers to the title of President as the executive. He is instructed therein by the declaration “take Care that the Laws be faithfully executed” made in Article II, Section 3, Clause 5, else he faces impeachment. Most executive orders use these Constitutional reasonings as the authorization allowing for their issuance to be justified as part of the President’s sworn duties,[2] the intent being to help direct officers of the U.S. Executive carry out their delegated duties as well as the normal operations of the federal government: the consequence of failing to comply possibly being the removal from office.[3]

      Hopes this helps.

      I don’t know why Becky does provide these to his followers. Would help, don’t you think?

      • Jim

        You are absolutely correct! They misuse the term “executive power” in the same way that they misuse the phrase “general welfare”.

        My question was mostly rhetorical. I do understand the separation of powers a little. It is not the job of the Executive branch to make laws…which is exactly what an executive order does…a clear Constitutional violation! That power belongs to the Legislative branch. My real question, if you read between my lines…”Why does the Congress and Senate allow the President to make them inconsequential?” Not just just this President, but every one who has ever signed an Executive Order! I know part of the answer. Both parties want to have that power when “their guy” gets into that office and questioning it could potentially end it.

  • SuperXXXXXX

    College is a industry (product) that got way overpriced, so they gave student loans and so the sky became the limit on cost. Now it is catching up to them and new students are finally becoming weary of taking on so much debt and enrollment (product) is going down. So this basically a tax payer bailout of the college industry. Always follow the money

  • Shay

    Glenn, I have to give another side to this. Normally I would agree with what you and others post on here. But we tried to do everything the right way, saved and invested the maximum so we could help our children and myself get through college. But things happen sadly and we were part of the families affected by the fall of Enron(not even knowing the company my husband worked for had investments with them). So, multiple student loans later, we do not feel bad about the assistance to get our loans more manageable. We already know we will never be able to retire, but at least we can work toward paying our debt and still have money for the mortgage and food.

    • Lioness

      The real sham is that the student loan system has aided in making college so darn unaffordable. As with human nature, colleges and universities seen the easy money in student loans, These loans were forced on lending institutions with no restrictions. It’s free money for those institutions of “higher learning” so why keep it affordable? Why even have standards? So what if they fail in a year? It’s all easy money!

  • Joshua Galloway

    I used the 2010 version of the “pay as you earn” option for the first year out of college, but now that I am working full-time (not in my degree field) I am paying the full regular payments. I don’t like the idea of the majority of the debt being forgiven after 10 or 20 years, but I was glad I had the lower payment option while I was looking for a job.

  • joyharv

    His free ride as a foreign exchange student at Columbia under his given name born in Africa has been proven. He will keep going til someone makes him stop, like a kid who keeps getting into the cookie jar. Eventually parents step up and remove the jar and correct the child, or of course we watch the child develop a bellyache and keep filling the jar because all he will eat is cookies. It’s our mentality with our kids. Why are you so shocked that everyone is too self absorbed to get his hand out of the jar!

  • Jordan Dixon-Hamilton

    We’re taught you have to go to college to succeed sooooo we take on the debt to be successful

    • Lioness

      And for many who do not become successful, they are forced to succumb to government aid because the debt becomes to burdensome, and thus become a burden to the taxpayer. The country can only have so many liberal arts majors. I personally could use a good plumber or electrician these days.

      Four years of a college “education” does not entitle someone to become successful, and good job training can be much more beneficial financially.

  • Anonymous

    Obama is a crmiinal

  • A Non-wealthy Conservative Rep

    Thanks to all of these people who want free college, subsidized student loans, food stamps, medicaid, subsidized housing, free child care, utility assistance etc., we are all going to be slaves to the government. It’s just a matter of time. I can sure understand that some people do have a need for these things but there are just so many people who work the system instead of going to work.

    • BevM

      And thanks to a “president” that’s now created a “Humanitarian Crisis” on our southern border with people from as far down as South America coming to America “for a better life” with a promise from AG Eric Withholder for an Attorney, also paid for by us, to get them legal status. That will be tens of thousands MORE on the dole. THIS is Barry Hussein’s promised Fundamental Transformation of America – a place of mass debt and total chaos. As more and more people are TAKING and fewer and fewer are TAXPAYERS, the SOCIALISM is becoming crystal clear.

  • An unpronounceable symbol

    Why can’t college be free?

    • BevM

      NOTHING is free. Gubmint “freebies” come out of workers’ paychecks. Might as well learn that now.

  • Sean Haddy

    We are told since a very young age, that we are expected to grow up and “be someone”, and many of us, product of the public school system (i’m in my 30’s) fell for the line of, you need a degree to make it in the world, and be competitive with the rest of the world. Truth is, this is not always the case, and more students should be encouraged to research, learn and grow in alternative structures, vs at a college. Unfortunately, such institutions and are very few and far between because: 1) Our culture is disconnected, 2) There are many regulations and positions that require a degree to even be considered. You hammer a generation long enough with the idea that you’re worth nothing without the degree, you’ll have a generation paying (or borrowing) whatever it takes to make it. Unfortunately, I was part of that generation, and will be paying for it, for a while…. but I don’t expect another taxpayer to pay for it, regardless of me paying taxes since I was 16, and paying social security since then, even though I probably won’t get a dime from social security.I pay my loans, and pay off certain accounts when I can… regardless of my desires.

    Want real highway robbery? Keep forcing people to pay for social security, that they will never get to use.

    • Lioness

      College/ Universities are money making machines. Your forced to repeat basic classes that you took in high school and you’re forced to take classes that have nothing to do with your actual major. What a waste of time and money. As a music major, I’m still trying to figure out how geology and a repeat of my world history class I had in high school was going to make me a better musician. Don’t get me wrong, a basic knowledge of everything is important, but should be learned in the twelve years you spend in school before you arrive at college. It’s very outdated the idea of spending tons of time and money learning stuff you can easily reference on a computer. I’d prefer if a doctor spent all their time taking classes pertaining to medicine, If you seen a doctors handwriting, the extra English class obviously was not worth the money. And that’s what it’s all about, the money, and these so called institutes of higher learning are rolling in it.

  • Anonymous

    Weeeee doan need no stink’n government for de sudent loan……the government is looking for impressed labor and using favoritism again…Oh yeah, you come work for the gov and we will forgive your loan but you private sector slime, no deal…what a jerk Ol’ BOB is these days…..

  • Anonymous

    It’s important to realize how important it is to improve our educational system at
    levels. From grade school, junior hi, high school, and college.

    Our education system is failing us.
    Providing student loans is not the same as slavery.
    Beck is absolutely wrong.
    He’s getting wealthy by feeding the general paranoia.
    Providing financial support to provide college to more students is essential.
    It’s not slavery. It’s absolutely to crazy to compare student loans to slavery.

    Fact: American students rank 36th in the world in math, science.
    Read it here: http://www.cnycentral.com/news/story.aspx?id=978874#.U5fni41dXkI

    We need to do everything we can to get our kids to be competitive in the world.
    Common Core is not a commie plot.
    It’s designed to help improve our education system.
    Stop being so paranoid.
    We are losing our competitive edge.

    Stop being obsessed with hating Obama.

    And think. Do your homework.

    • Anonymous

      Common Core may not be commie plot, I really don’t know. But, as you’ve stated, our standing in subjects like math and science keeps falling. It makes me wonder why, if the new way things are being taught is so great, do we keep coming up with a new way to teach it every year or two? And, why does our ranking keep falling? If our rank was higher under the old way of teaching, then why do so many people think it was the wrong way? I have kids in high school and from the time they started school it seems like each year or two there was a better, new way to teach math. Only, now it appears that it isn’t so great after all. They confused one of my kids so much that I had to take her to Kumon for help with math. And guess what, they don’t teach all the new tricks to figure it out. You learn (by repetition) the absolutes and how to apply them. No counting dots on numbers to do addition (one of the things they were taught at school.) They were also told not to ask their parents for help because ‘parents don’t understand how to do it the right way.’ And, after 8 years of taking Spanish every year they still couldn’t hold a simple conversation in Spanish. It’s a whole lot of time and money wasted trying to find the best, new system when the old system might not have been broken

  • Dj Nude

    Beck never went to school? So that’s why he is so dumb!

    • https://www.facebook.com/lowpricephotographybysharonmousel?ref_type=bookmark Chery

      I’m actually surprised he is so SMART and never went to college. I admire the guy.

    • BevM

      People CAN be smart and not go for more indoctrination than the mandatory 12 years. He’s self educated via the Public Library. That takes more work than going to college and living the high life on mommy and daddy’s dime, partying every weekend and making college a career, coming out with tens of thousands of debt and no jobs available in Obamaconomy. That’s smart?
      Or now, instead of all of that debt, thanks to Barry Hussein, WE THE TAXPAYER now get to pay for your college debt. Add it to the debt he’s doubled and you get his Fundamental Transformation = a country soon to be unable to even pay the INTEREST on the debt accumulated.
      Beck sees the Socialism. Perhaps you should spend some time listening to him. You might learn something besides the normal kindergarten name calling you’re so good at and that is so expected. We’re used to it and it doesn’t bother us.

  • Darlene

    I wrote you about this years ago just after the health care bill came out that had the Education Reform crap in it. The then, Director of Dept of Ed, David Berjeron came and spoke to our veterans and then to members of our college (they visit various schools and colleges across the nation every year) and he was very clear that that was what they were working towards. I was so concerned. He said they were distracting the public with other things and then they were going to put it through fast because people would be so concerned about other things they won’t know it happened. Then when it is done, they won’t do anything about it. He said it was a kind of shell game. Make the changes in small amounts and no one pays attention. He said the American public would soon be the proud owners of the student loan program. Students can take out huge loans and then when they are done with school, they would pay back the loans based on a percentage of their income. If they make minimum wage they may not have to pay anything back until their income increases. Then after the 10 years, even if the person has paid nothing because they do not make much money, the American people would be the owners of the loan and pay it back.” One of my Veterans stood up and said that was the worst thing she ever heard and it was allowing people to steal from the American people. She was so upset. They blew off her comment saying, those that make the money must be accountable to help out those who do not work or make money. That we have come to a time where the rich need to welcome helping those who do not have money. We owe it to them.

  • Michael

    Working a full time Job, getting through Community College… debt free…. after this tho… what the heck am I doing being responsible… why don’t I just take out a loan I don’t have to pay back and spend it on things I wont need, and make people I don’t know foot the bill when I default in twenty years. >_<

  • Angela Dabney

    My 17 yo old said this “If he is offering it, I am sure it is not a good thing!” and continued on her day. She is working hard to get scholarships to help her pay for her education.

    • BevM

      Same here. My daughter has been taking classes a year ahead since 8th grade and has enough credits to graduate High School at the end of her Jr. year. She took college classes her Jr. year and will be taking all college courses her Sr. year, graduating at the end of the ’15 school year as a college sophomore. One of the perks of being in a very small town with a Community College close by. She’s earned several scholarships already and applies for every one she can. She’s an Honor Student and depending on her SAT score, she could get a totally free ride to some colleges and will go to one of those, hopefully graduating with very little to no debt. She’s always planned to go to college and has worked very hard in HS to achieve that goal, many scholarships and has colleges constantly sending her different perks to get her attention and possibly as a student.

      With Obamaconomy, as her parents struggling to make ends meet, we won’t be able to pay for college and very little financial help at all. She’ll have to do it all on her own – and she will. She’s very motivated and gets upset when she sees a B when she checks her grades. I just hope that by the time she graduates, we’ll have a REAL president that loves America and a Congress that will help fix the disaster Barry Hussein has created – IF it’s not already too late. I’d hate for her to be yet another college grad that can’t find a job and has to come back home because there are NO JOBS – which has been the case the majority of this dictator’s reign of terror and imperial “presidency.”

      • Chuck Fisher

        While it’s nice to hear about all of your daughters accomplishments and I truly hope that she thrives in the college setting, it pains me to read comments like this. Yes, President Obama has made questionable policies in his time in office, but it kills me to hear people laying the state of affairs of this country for the last 40 years at his feet. I can’t think of a president after FDR that seemed to me to have any idea at all what to do to fix the state of our economy.

        • BevM

          He’s not, by any means, responsible for all of our problems. But he is responsible for doubling the debt in five short years, for more regulations that kill businesses and for the lowest labor participation rate since the 70s. He’s also responsible for the recent “Humanitarian Crisis” we now have on our southern border, people coming all the way from Central and South America through Mexico and ending up here, many being very young kids with no adults. How did that happen all of a sudden? With his messages to those countries that if you get here, you can stay here, PERIOD. There are many diseases, once eradicated in America, that they bring with them. One thing you MUST say about Barry Hussein is that he doesn’t obey the laws and his “Fundamental Transformation of the United States of America” is a disaster, a Socialist utopia where (almost) everyone is poor and the rich are VERY rich. Everyone equates the Wall St. Bankers with the Republicans, but they’ve given more to Barry’s campaigns than they did to Romney’s and in turn, the dollars his Fed prints go right to the banks, making the Stock Market look great when it’s really all fake. He’s intentionally destroying the country. One crime after another after another after another… Letting the Taliban Five free was the biggest act of Treason so far, and there have been many. He’s aided the enemy more than upholding his Oath he took to our Constitution. That “prisoner swap” was a VERY dangerous move for the whole world and they’ve PROMISED to capture more Americans since “it was so easy to get the Five BIGGEST TALIBAN LEADERS freed, for such a worthless deserter.” EVERY American, especially overseas, is in more danger than we’ve been in many years, and Hitlery said “it’s the Afghanistan Military’s problem, not ours.” So while we still have troops there, the five biggest Taliban members are dying to take them hostage to get more of their buddies out of Gitmo.

          Barry Hussein has done more to destroy and endanger America and her people than many people realize. The CRIMES they’ve committed are too numerous to mention. He’s not Pro-America. “If the Political Winds shift in an ugly direction, I will stand with the Muslims.” He told us where his dedication lies. And it’s not with the US.

  • chaika trabant

    Glenn isn’t thinking this completely through. While I do not agree with the changes to the student debt, he doesn’t see the fact that College is required to do much of anything. That whole hyperbolic “go to college, or flip burgers” that your parents told you to scare you into success is reality to the younger generation now. We have three options: flip burgers, go to college, or leave the country.

    Whats worse is that even when you complete college, it isn’t respected, nor is it necessarily enough to land you a job, which leads students to consider leaving the country after getting a degree.

    A LOT of younger people are going to college AND leaving the country, as a young person its very easy to get discouraged and decide to take your talents that you develop in college elsewhere, where they might be appreciated. Everyone seems to want a college education and 20 years of experience now.

    America needs to feel like a place where someone can succeed by applying themselves, it currently does not. As a college student, I meet with hundreds of very dedicated individuals who are having a rough time due to inexperience. No one is willing to let them get some experience.

    Eventually the young people will leave. Its happening in Spain, don’t think America is immune. There are other countries who will take aspiring talent.

  • Anonymous

    Isn’t it fascinating that it took a black politician, with ASSperations of being the first American socialist DICKtator, this many years to RETURN his own people to slavery of a different sort? I guess that would make him the ( White ) House n… well, I think you understand. Uncle Tom has NOTHING on this guy.

  • Plow Comms

    To those of the liberty school, the liberty of a free country implies a state of affairs where centralized power, control, and coercion are minimized.

  • Chuck Fisher

    A collegiate education is just like owning a house in the US. Financially speaking, it’s not for everyone, because not everyone can afford it. I’ve spent my whole life renting, knowing I can’t afford to own a home. For the past 30 or 40 years, we’ve been de-valuing a college education just like everything else. In telling all of our children that they need a college education, we have entirely too many people going that route that shouldn’t be. Not only are we “watering down” the higher education student pool with people who don’t belong there, but we’re also “watering down” the college and professor pool, because of the need for so many more to keep up with the student demand. The result is entirely too many colleges being run like big businesses instead of schools, and too many students and teachers that should be doing something else with their lives. Degrees are just like every other collectable in this world. The more people that have them, the lower the value. Rather than all of our children going to college, they should be getting a good enough public education for some of them to make it on their own without college.

  • Anonymous

    The National Student Loan Program was passed by Congress (the Legislative [Law MAKING] branch of government, directing the President (the Executive [Law ENFORCING] branch of government. When the President DEFIES the PEOPLE by changing parts of the law, it is the duty of the House of Representatives to IMPEACH the SONUVABITCH and the Senate to TRY the SONUVABITCH. For those members that REFUSE to go along with the process, it is the DUTY of the ELECTORATE to REMOVE their SONUVABITCH from political office. THAT is the PRICE of LIBERTY!

  • Guest

    From a students perspective I would just like to make a few small points.

  • Randy

    I would like to make a few points from a current students perspective. I am a junior studying industrial design at public university in Ohio. My tuition is a little over 11000 a year, and I am currently around 60000 in debt. I do not currently identify with any political party, and I admit I am completely overwhelmed and confused by what my financial fate will be. There is a good chance I will be sending in 900 dollars a month to salliemae for the next 25 years of my life.
    Despite this crippling situation, I do not think that I should of chosen to not attend university. With the mind set of “cant afford it, will never do it,” how would the beginnings of my education be affected? Would I still of pushed myself in high school and even into middle school as hard as I did, even while knowing my family could not afford higher education? Or would I of just gone ahead and accepted my fate then- finding a low paying job that I can ride out for as long as possible. I made it to the best program in America for the program that I am studying. I guess I shouldn’t of seen this as an opportunity, just an expense.
    How is throwing in the towel on furthering your education based on your family’s finance apart of the over romanticized American dream?
    The thought of my debt to the US government makes me feel nauseous, and as if I will forever be at their disposal, a slave of sorts. But I would like to say that student loans debt is not car debt, or credit card debt. On paper, it is still just numbers, and from afar its easy to say that was avoidable, but student loan debt revolves around dreams and aspirations, not a bad shopping habit.
    I am not really arguing any points here, just wanted to give some insight from someone living it, and I admit I have no idea how to handle the situation. Loan interest rates that were not 7 % would be a nice start.

  • Rich Smith

    Boy, I bet the PUBLIC SECTOR UNIONS are cheering for this action! These parasites
    can just keep gauging the taxpayer for more & more money! These unions have to be shut down!

  • tobyfan672

    That is so backward I don’t even know where to start. You are mixed up.

  • BevM

    Why do you come here to troll? Don’t you have anything better to do with your time? You have no clue about anything of which you speak. Longing for attention?

  • BevM

    We already pay for people that have generations of welfare and food stamps as a way of life. That’s increased greatly under this “president” and will continue to grow in numbers with the “Humanitarian Crisis” he’s created on our southern border, inviting people from Central and South America to come here, bringing all of their diseases and lack of education with them – tens of thousands MORE that we’ll have to pay for. Amnesty by Fiat.

    If anyone chooses to go to college, they shouldn’t depend on taxpayers to foot the bill. We’re already stretched to the max. I couldn’t go to college, couldn’t afford it. But I got a good paying job and have been there for 28 years now and pay my own way, my home is almost paid for. I’m sick and tired of paying for EVERYONE ELSE’S wants and desires and WASTE of my hard earned tax dollars. I PAY MY WAY, YOU PAY YOURS. PERIOD. There are MILLIONS of College Grads that can’t find jobs and have had to move back home. So is college a necessity? Not as long as we have a dictator crushing our economy – BY DESIGN.

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