Comments on: Obama Courts Young Voters With Student Loan Appeal

By: kmblykireal

kmblykireal — Sun, 29 Apr 2012 15:20:08 +0000

Only a percentage of students receive the subsidized loans Obama is talking about. There are two types of federal loans -Stafford subsidized 3.4 %, and Stafford unsubsidized 6.8%. My neighbors (nice neighborhood) -husband and wife – both drive brand new cars and their kids will receive the subsidized loans! My husband and I drive very old cars, in order to save money and my sons receive the unsubsidized loans at 6.8%. My graduating son and we the parents have paid the other 2/3 of my sons college. I am NOT complaining, but using this as an example to show when the government becomes involved in the loan business, the savers are the ones that pay more. Remember the housing/mortgage – once the government became involved – they encouraged risky loans to be given out. This is just Obama pandering for college votes, because he knows he is going to need them. College students – do not become his “useful idiots” !

By: Terry

Terry — Wed, 25 Apr 2012 16:24:26 +0000

Student loans make education more affordable for people who have no business going to college

Posted by: LagunaTriMom | April 25, 2012, 3:23 am 3:23 am

The less wealthy have ‘no business going to college’?

By: LagunaTriMom

LagunaTriMom — Wed, 25 Apr 2012 07:23:30 +0000

When the government gets involved and subsidizes something, the price goes up. Fannie and Freddie allowed people to get loans who had no business buying homes and it drove prices up. Student loans make education more affordable for people who have no business going to college, but also for people attending for-profit rip-off trade schools, driving up tuitions for both. If Congress votes to continue the 2007 interest rate reduction, at a cost of $5B annually, the next sunset will occur during an election cycle as well. The cost over the ten-year repayment period for someone who took out the maximum Stafford loan each year for four years is approximately $1800. These figures came from a report I heard today on NPR, yet anoother article on this site states “More than 7 million college students would face an average $1,000 hike in their payments per year if the extension is not passed, the administration says.” The new rate would only apply to new loans. The difference in payments between 3.4 and 6.8% on $14000 (NPR reported the average loan is approx. $3500/year) does in fact come out to less than $30/month, as NPR reported. $1800 over TEN years (according to NPR and basic interest calculations), yet the Administration claims $1000/year? I understand political posturing and spinning, but outright lies? Maybe it’s just their fuzzy math; I’d prefer honesty.

By: Charles

Charles — Wed, 25 Apr 2012 04:18:21 +0000

I love it how after doubling the national debt and plunging the country into a major economic collapse in which 8.5 million people lost their jobs, the Republicans start lecturing the Democrats on fiscal responsibility and good business practices. Priceless.

By: Randy

Randy — Wed, 25 Apr 2012 03:26:22 +0000

He says we need to lower cost of college tutions but no specifics. Is he going to cut the professors’ salaries and pensions? Why even bother under Obama economic policies half of recent graduates are unable to find a job or are under employed.

By: wantingbalance

wantingbalance — Wed, 25 Apr 2012 03:06:47 +0000

And yet he was able to procure a property worth three quarters of a million dollars for less than the market price at a time when his student loans remained outstanding. But even more telling is his timeline. He only paid off his student loans 8 years ago and today his net worth is well above $2 million? On a senator’s salary? On a president’s salary?

By: choppyseas

choppyseas — Wed, 25 Apr 2012 02:31:44 +0000

Borrowing money for what? Be great if you new grads could actually find a job. 50% are either unemployed or underemployed. While OB was talking you into debt he had nothing to say about how you were going to be able to pay it back. Employment pix going to change for you anytime soon? No. Underemployment will remain steady…..employers can get you at the same price as a HS grad… employers are counting on you college grads to be able to actually read, comprehend, and write so the college grad “wins.” So, instead of getting all giddy about borrowing money you need to ask which person out there today is going to make certain you have a decent job. Four years is pretty much all the proof you need with the current administration. 50%…not very good odds for you finding a good job.

By: Jed

Jed — Wed, 25 Apr 2012 02:09:18 +0000

Posted by: Independent Voice | April 24, 2012, 9:26 pm 9:26 pm

How much did it cost your friend to do all that?

By: michael

michael — Wed, 25 Apr 2012 01:51:30 +0000

Did anyone bother to check to see if he was telling the truth?? I mean he lived with his Grandmother
who was the president of a bank in Hawaii. He attended private schools while growing up; then
Obama graduated from Harvard. POSTED BY: WHATHAPPENED016********And your problem
is????

By: whathappened016

whathappened016 — Wed, 25 Apr 2012 01:46:26 +0000

Did anyone bother to check to see if he was telling the truth?? I mean he lived with his Grandmother who was the president of a bank in Hawaii. He attended private schools while growing up; then Obama graduated from Harvard.