The President finally acknowledged today that we have a crisis on our hands when it comes to college affordability and student loans! FINALLY!
A non-profit organization dedicated to the eradication of all student loan debt through activism, education, and legislation; because student loan debt is dangerous to the US economy and to the health and well-being of individual Americans and their families. CRYN JOHANNSEN, Founder & Executive Director
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Wow! The speech writers wrote the word crisis and the President read it off the teleprompter. Did he then go on to say that he was for the restoration of bankruptcy protection for student loans? No, just a new college ranking system that supposedly will be tied to government grant money. If it is ever implemented. I don't see how giving colleges a new ranking for their promotional material is going to solve the crisis.
Until Bankruptcy and Statute of Limitations are again applied to Student loans, the problems will continue to get worse. Remember this is the Obozo who prosecuted all the Wall Street mortgage fraud and criminals.
Until Bankruptcy and Statute of Limitations are again applied to Student loans, the problems will continue to get worse. Remember this is the Obozo who prosecuted all the Wall Street mortgage fraud and criminals.
Until Bankruptcy and Statute of Limitations are again applied to Student loans, the problems will continue to get worse. Remember this is the Obozo who prosecuted all the Wall Street mortgage fraud and criminals.
It's already too late anyway. It's not going to do anything for the entire generation of indebted, underemployed slaves. The slaves have stopped getting married, buying houses or buying cars.
If one generation of slaves is already ruined, that means an ensuing generation of slaves won't exist. Which means the elites won't get funded. Which means the system crashes.
At this point it's gone from one generation of slaves into a few generations. The number of slaves are growing, whereas before they were peasants and a few slaves, now there are few peasants and many slaves.
This was always the danger: any 'solution' to the student loan crisis would be prospective ONLY.
There is $1 Trillion + in loans sitting out there, most of it held by the DOE. DOE's data shows 60% of borrowers are not paying one dime right now - and we know there is a zero payment possible under IBR/ PAYE. It's a crisis for the government too.
Every politician that has touched this issue has had the same goal: preserve the federal student lending program. That was the justification for removing bankruptcy protection in the first instance and in the last instance (2005 BAPCPA).
Well, it's run amok and it's literally killing people, and a government ranking system is what we get? What, we didn't have enough of an oligopoly already? Prices aren't uniform enough already due to lack of price competition?
Not only will a ranking system not help price, it will make it worse. Did you read the Matt Taibbi article in Rolling Stone yet? He nails it.
I heard that Obama had given this speech but hasn't yet hear it for myself. I was afraid of what I am reading here. We instantly jump the gun and praise this sock puppet for repeating what hard-working people like Cryn have been saying for years. This is a crisis... And the president of the United States is just getting wind of this now? Of course, we all know that he's known for a long time.
What really scares me though, is that NOTHING is EVER mentioned about the REAL crisis, which is the 40 million Americans who are in $1.2 Trillion of debt, with no relief in sight... And yet the "president" is talking about how we can help future and current students - people who may not even have debt yet. Yes, we'll need to do something about them but first, we need to stop the figurative body from bleeding out.
Why do politicians never address the real problem? We need to be pressuring them to stop diverting attention away from what is really happening here. They do nothing, yet want us to hit the pavement and kiss their feet when they say, "hey, we have a problem here!" Yes, we do you numb skulls! We have been telling you this for YEARS. So freaking do something about it! My hell!
@Anonymous Aug 27 3:38 PM - Amen! We all know about it. It's getting WORSE. Do something already!
Meanwhile, I've been battling it out on twitter against a journalist who writes for Wapo, a newspaper that owns Kaplan U! The journalist - bless his misled broken heart - argues that higher ed is still a "good investment," as if we don't know that this is propaganda!
After all, enrollment for schools is down (this is good!), and this guy had the audacity to say that a Fed Chairwoman was wrong abt higher ed and claimed my "reading" of a recent study that SHOWS ppl are losing out long-term (see Demos.org) when going to school are both wrong. Apparently, we're all wrong.
And then I mention the $1.2 trillion figure-ree-ono, and he goes silent. Telling!
It's a flippin' scam.
I just love you, Cryn! You have a lot of guts. These for-profit U brainwashed supporters take some convincing. I think that many of them do not realize the truth or it is too painful for them to fathom when they realize the pain, permanent disablement and death that people are experiencing is the very misfortune from which they earn their paychecks. I certainly wouldn't be able to sleep at night.
Thanks again for all you do!
Welcome to the party. I was paying student loans before you were born. The America I remember no one needed a college education. My mother stayed at home and my father had the same manufacturing job for 43 years. My father bought his first house at 19. Everyone I knew had a manufacturing job, a home, a car, lived in the suburbs and retired with a pension. Many people I knew had all of this and only had a grade school education, like my grandparents. Without manufacturing jobs, American's will discover that they are not working class, or even middle class, but they are poor. More and more degrees in a service sector, part time retail economy will not get you out of the slavery of debt. Obama is no savior to the Millennial Generation, for he is a professor not a producer. He has no experience of creating jobs, just creating more debt. Sincerely, Generation X.
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