Did you hear Rush Limbaugh today? He had a segment on some Occupy Wall Street demonstrator whose picture was taken while she was writing in a journal. Apparently the journal entry was visible in the picture. She was lamenting about the fact that she is graduating from college this year with a degree in "Classical Studies." She is whining that her "job prospects are zero." Her writing also indicates that she has student loans and is very "ticked off."
Now I ask you, People, why would anyone get a degree in Classical Studies? Where in the world do you go to apply for a job with a degree like that? The bigger question though is why would anyone with an ounce of common sense accumulate potentially $100,000 in student loan debt (approximately what a 4-year state college degree costs now) just to get out of school with a throwaway degree? What did she think, the world was going to open its door and snatch her up for any job she wanted just because she was able to get a Classical Studies degree?
C'mon, she should have used her head for something besides getting a piece of paper that's worth a bucket of warm spit. I don't feel sorry for her. Oh, I forgot. Now she wants someone else to pay off her student loans. That'd be you and me.
Showing posts with label student loans. Show all posts
Showing posts with label student loans. Show all posts
Tuesday, November 1, 2011
Thursday, October 27, 2011
COST OF ONE VOTE? $4 TO $8 PER MONTH
Smoother than a Snake Skin Suit, your president is at it again. He’s slithering all over the media gibing and fibbing about his Executive Order that’s supposed to provide relief to people who have student loan obligations. But if you look closely at the proposal, it swiftly sheds its skin and morphs into the worm that it is.
According to the Atlantic Monthly, 82% of outstanding student loan debt was accrued by students over the past 10 years. That means a college education has become extremely costly and more and more people are chasing that pricey degree. And why? Because for decades our young people have been told they can’t succeed in life without getting that ever necessary college degree. Do you think they’ve been warned about the fact that depending on the degree, they very likely won’t be able to find a job in their field? Or have they been warned about the income expectations in relation to the debt they will amass getting that wall ornament? And I wonder if they’re now being educated that there are no jobs available for them?
There are three main provisions of Obama's Executive Order. One, he will limit the amount of student loan payments to 10% of a borrower's income. It is currently 15%. Two, he will allow debt still outstanding after 20 years to go bye bye, in other words, be forgiven. Currently student loan debt is forgiven after 25 years. Third, he will allow consolidation of loan balances, combining all of an individual’s student loans into one big loan.
Now Obama is touting this as a big deal for people with student loan obligations. But the reality is that the “consolidation” of loans will save the borrower a teeny, tiny hiss of an amount. The average savings per student loan borrower would be between $4 and $8 PER MONTH. This is clearly not a stunning amount of money.
But Mr. O. is trying to make parents, students and taxpayers believe that his action is going to save the economy and create jobs, and oh, my gosh, it’s going to Help The Students. After all, it’s part of his “We Can’t Wait” stimulus effort. That’s his “unilateral” action that completely circumvents Congress – again.
So let’s discuss the payment limit of 10% of income. He’s trying to sell this as a God Send to borrowers. But the truth is that any borrower who graduated in 2011 OR EARLIER will NOT be eligible. It will be available only to those graduating in 2012 or in the future. Doesn’t that just give you warm fuzzies, those of you, parents and students and existing borrowers, who are currently paying on student loans or will be once your grace period expires? You get to pay all of your own loans, plus you get to subsidize the loans of all who come after you. Woo Hoo!
And then there’s the “whatever-you-don’t-pay-back-in-20-years-will-go-away” forgiveness provision. It will be at least another 10 years before borrowers have hit the 20-year mark in their loan payments so this executive order provision won’t save you anything currently. Don’t be fooled by his hyperbole. It’s not what he wants you to think it is.
But I would ask why does any borrower get excused after 20 years or ever? If borrowers know what they don’t pay back in a 20 year period will be excused, why would they make any effort to pay anything back? How many borrowers will sit tight and wait for it all to go away? There is NO incentive to pay it back. Oh, by the way, the taxpayer picks up the student loan debt for any borrower who decides not to bother paying it back.
But wait, that’s not all. I wonder if an Obama Executive Order can really do this? Shouldn’t Congress have a say in this type of policy change? Oops, I forgot, right after taking office Obama has already slapped Congress up ‘side the head when he ordered the federal government to take the Student Loan Program away from the banks.
The result of Obama’s changes to the Student Loan Program? Nothing, except it’s going to cost the taxpayer potentially billions of dollars. It’s estimated there is over a trillion dollars in student loan debt currently owed by borrowers. Who do you think is going to pay when they don’t?
Well, yippee, skippee, I have one question. Mr. O, you old Snake Oil Salesman, why are student loans more important than home mortgages? Explain that one if you can.
What, you can’t explain your own Double Talk? Well, let me guess. The student loan giveaway is nothing more than a campaign carrot because the Occupy Wall Streeters have demanded it, and yeah, that’s right, you support the OWS crowd, as you’ve publicly stated. How many jobs will your revolutionary action create for the OWS revolutionaries? Zip, Zilch, Zero, Nada.
This is nothing more than another redistribution of wealth giveaway. Thank you again, for nothing but more debt.
According to the Atlantic Monthly, 82% of outstanding student loan debt was accrued by students over the past 10 years. That means a college education has become extremely costly and more and more people are chasing that pricey degree. And why? Because for decades our young people have been told they can’t succeed in life without getting that ever necessary college degree. Do you think they’ve been warned about the fact that depending on the degree, they very likely won’t be able to find a job in their field? Or have they been warned about the income expectations in relation to the debt they will amass getting that wall ornament? And I wonder if they’re now being educated that there are no jobs available for them?
There are three main provisions of Obama's Executive Order. One, he will limit the amount of student loan payments to 10% of a borrower's income. It is currently 15%. Two, he will allow debt still outstanding after 20 years to go bye bye, in other words, be forgiven. Currently student loan debt is forgiven after 25 years. Third, he will allow consolidation of loan balances, combining all of an individual’s student loans into one big loan.
Now Obama is touting this as a big deal for people with student loan obligations. But the reality is that the “consolidation” of loans will save the borrower a teeny, tiny hiss of an amount. The average savings per student loan borrower would be between $4 and $8 PER MONTH. This is clearly not a stunning amount of money.
But Mr. O. is trying to make parents, students and taxpayers believe that his action is going to save the economy and create jobs, and oh, my gosh, it’s going to Help The Students. After all, it’s part of his “We Can’t Wait” stimulus effort. That’s his “unilateral” action that completely circumvents Congress – again.
So let’s discuss the payment limit of 10% of income. He’s trying to sell this as a God Send to borrowers. But the truth is that any borrower who graduated in 2011 OR EARLIER will NOT be eligible. It will be available only to those graduating in 2012 or in the future. Doesn’t that just give you warm fuzzies, those of you, parents and students and existing borrowers, who are currently paying on student loans or will be once your grace period expires? You get to pay all of your own loans, plus you get to subsidize the loans of all who come after you. Woo Hoo!
And then there’s the “whatever-you-don’t-pay-back-in-20-years-will-go-away” forgiveness provision. It will be at least another 10 years before borrowers have hit the 20-year mark in their loan payments so this executive order provision won’t save you anything currently. Don’t be fooled by his hyperbole. It’s not what he wants you to think it is.
But I would ask why does any borrower get excused after 20 years or ever? If borrowers know what they don’t pay back in a 20 year period will be excused, why would they make any effort to pay anything back? How many borrowers will sit tight and wait for it all to go away? There is NO incentive to pay it back. Oh, by the way, the taxpayer picks up the student loan debt for any borrower who decides not to bother paying it back.
But wait, that’s not all. I wonder if an Obama Executive Order can really do this? Shouldn’t Congress have a say in this type of policy change? Oops, I forgot, right after taking office Obama has already slapped Congress up ‘side the head when he ordered the federal government to take the Student Loan Program away from the banks.
The result of Obama’s changes to the Student Loan Program? Nothing, except it’s going to cost the taxpayer potentially billions of dollars. It’s estimated there is over a trillion dollars in student loan debt currently owed by borrowers. Who do you think is going to pay when they don’t?
Well, yippee, skippee, I have one question. Mr. O, you old Snake Oil Salesman, why are student loans more important than home mortgages? Explain that one if you can.
What, you can’t explain your own Double Talk? Well, let me guess. The student loan giveaway is nothing more than a campaign carrot because the Occupy Wall Streeters have demanded it, and yeah, that’s right, you support the OWS crowd, as you’ve publicly stated. How many jobs will your revolutionary action create for the OWS revolutionaries? Zip, Zilch, Zero, Nada.
This is nothing more than another redistribution of wealth giveaway. Thank you again, for nothing but more debt.
Monday, November 29, 2010
THE DREAM ACT OR A NIGHTMARE?
Wasn't the 2010 election message "CUT FEDERAL SPENDING?" Well, now we know how the Lame Duck Congress plans to do just that. The liberal, generous Dems, who have been in power for 6 years and will be until January, are proposing to pass The DREAM Act, which will take $44 billion a year from you taxpayers and hand it over to illegals currently in the U.S. just so they can go to college!
Here are 10 things you need to know about The DREAM Act:
1. The Act is NOT limited to children. In the current proposal the applicant must be under 35 on the date of enactment, which means the illegal would be 41 by the time they obtained full status under the Act. Not exactly "kids" that the pushers and shovers keep screaming about.
2. The Act protects any alien, including criminals, from being removed or deported once they simply submit an application. While that application is pending the applicant cannot be removed from the country for ANY reason, including criminal record or criminal conduct. This loophole allows applications to stay "pending" for many years as a delay tactic to prevent the illegals being removal from the U.S. This is what Obama/Dems want - to keep them all here.
3. The Act makes certain criminal aliens eligible for full amnesty. This includes alien gang members, aliens with misdemeanor convictions, aliens involved in voter fraud, aliens who have falsely claimed U.S. citizenship, aliens who have abused their student visas, aliens who have committed marriage fraud, aliens who pose a public health threat, aliens who have been permanently barred from obtaining U.S. citizenship, aliens who are likely to become a public charge, and aliens guilty of DUIs. And this is not a complete list of who will be eligible for full amnesty. Yippee, just the kind of people we want as full citizens.
4. The Act would be extended to a minimum of 2.1 million illegals. This is an estimate, but the reality is that no one knows the "for sure" figure. It is likely that the actual number will be much higher due to fraud and the inability of our government to accurately estimate the illegal alien population already residing here. What an invitation to other illegals! The message will be "enter the U.S. illegally and within 5 years you will be placed on a path to citizenship." Talk about OPEN BORDERS. It's pretty clear Obama/Dems won't close the border because they don't want to. They are pushing legislation to let more people in, not get them out.
5. The Act extends In-State tuition benefits to illegals, even when it is not being offered to U.S. citizens. Guess who's going to pay for this little gem? You'd be right if you guessed "you."
6. The Act does not require that any illegal finish any type of degree as a condition of amnesty. It ensures that illegal alien high school dropouts will also be put on a pathway to citizenship.
7. The Act does not require that an illegal alien serve in the military as a condition for being granted amnesty. Illegals will be required to work in "uniformed services," for example, The Public Health Service, for 2 years. But if they can demonstrate "hardship" they are excused from this provision. So we send them to school, then we pay their wages while they are awaiting citizenship, and we pay if they are on welfare or are getting social services, if they have kids and are sending them to public schools, medical care, food stamps, and hundreds of other social programs. Pay, Pay, Pay, and it's all coming out of our pocket.
8. The Act grants to illegal aliens all the rights that legal immigrants receive, including the legal right to sponsor their parents and extended family members for entry into the U.S. This can be done without regard to "numerical caps." This provision applies to the DREAM Act applicant's parents, who are responsible for the illegal DREAM Act applicant being here in the first place. Does this stink like a skunk? The parents who came here illegally, have been here illegally for many years, will suddenly become citizens thanks to their "child" who they brought with them illegally. Only a liberal Democrat and Obama could Dream up something as stupid as this. But then, we have always known they want amnesty no matter what the cost.
9. The Act provides that current illegal aliens will get state and federal student loans, federal work study dollars and other forms of federal financial aid. And they can continue to received student loans for 8 years even if they do not get a degree. Yep, they qualify for all of it, every single thing our taxes pay for that should be spent on our citizens. So how many of your sons and daughters will not get Pell Grants, etc., because the money is going to a non-citizen? Or how many won't even get into the college of their choice or any college because the available desks are taken up by 2 million illegals? Better wake up quick, Mom and Dad. You may be footing the whole bill for your college student while also paying for this nonsense. That is if your kid even gets an acceptance letter.
10. The Act prevents the Dept. of Homeland Security from using any information provided by illegal aliens whose DREAM Act amnesty applications are denied. The information cannot be used to send the illegal alien back home, and it can't be used in any investigation or prosecution of any crime committed by the illegal alien. So if the DREAM Act application is denied the alien reverts back to their "previous immigration status," which is illegal or deportable. But the bill prohibits the government from using any information contained in the application to ship the illegal out of here. Can it get any more convoluted than this??
This DREAM Act was already rejected once by Congress. But oh, no, that's not good enough for Obama/Reid/Pelosi. They are going to give it another try during the Lame Duck session. And the rumor in Washington is that they are going to shove it through the process without hearings and the public be damned. Just like they've done with hundreds of other bills.
My thoughts on why this bill and why now? Because Obama/Reid/Pelosi are looking at the election of 2010 and they are scared. They are paying back Hispanics for sending Reid and Pelosi back to Washington. They see their prospects for 2012 as dismal. They desperately need millions of new voters who will support them. What better way to do it than to open up hundreds of entitlements to millions of illegals? Talk about buying votes? And they're doing it with your tax dollars.
The price tag? For tuition and college costs only, $44 billion. And that doesn't include the rest of the real costs of this program. With deficits drowning us, what makes anyone in Washington think anything in this Act should be the law of the land? Apparently the fiscal lesson of the 2010 election was lost to the Dems. I can't wait until January.
In the meantime call and write your Congressmen and Senators and let them know very clearly that you oppose the DREAM Act. Google their names to contact them, or click on the link in my blog. I can't guarantee that they will listen to you any more than they did last year, but if they don't, 2012 is coming soon.
Here are 10 things you need to know about The DREAM Act:
1. The Act is NOT limited to children. In the current proposal the applicant must be under 35 on the date of enactment, which means the illegal would be 41 by the time they obtained full status under the Act. Not exactly "kids" that the pushers and shovers keep screaming about.
2. The Act protects any alien, including criminals, from being removed or deported once they simply submit an application. While that application is pending the applicant cannot be removed from the country for ANY reason, including criminal record or criminal conduct. This loophole allows applications to stay "pending" for many years as a delay tactic to prevent the illegals being removal from the U.S. This is what Obama/Dems want - to keep them all here.
3. The Act makes certain criminal aliens eligible for full amnesty. This includes alien gang members, aliens with misdemeanor convictions, aliens involved in voter fraud, aliens who have falsely claimed U.S. citizenship, aliens who have abused their student visas, aliens who have committed marriage fraud, aliens who pose a public health threat, aliens who have been permanently barred from obtaining U.S. citizenship, aliens who are likely to become a public charge, and aliens guilty of DUIs. And this is not a complete list of who will be eligible for full amnesty. Yippee, just the kind of people we want as full citizens.
4. The Act would be extended to a minimum of 2.1 million illegals. This is an estimate, but the reality is that no one knows the "for sure" figure. It is likely that the actual number will be much higher due to fraud and the inability of our government to accurately estimate the illegal alien population already residing here. What an invitation to other illegals! The message will be "enter the U.S. illegally and within 5 years you will be placed on a path to citizenship." Talk about OPEN BORDERS. It's pretty clear Obama/Dems won't close the border because they don't want to. They are pushing legislation to let more people in, not get them out.
5. The Act extends In-State tuition benefits to illegals, even when it is not being offered to U.S. citizens. Guess who's going to pay for this little gem? You'd be right if you guessed "you."
6. The Act does not require that any illegal finish any type of degree as a condition of amnesty. It ensures that illegal alien high school dropouts will also be put on a pathway to citizenship.
7. The Act does not require that an illegal alien serve in the military as a condition for being granted amnesty. Illegals will be required to work in "uniformed services," for example, The Public Health Service, for 2 years. But if they can demonstrate "hardship" they are excused from this provision. So we send them to school, then we pay their wages while they are awaiting citizenship, and we pay if they are on welfare or are getting social services, if they have kids and are sending them to public schools, medical care, food stamps, and hundreds of other social programs. Pay, Pay, Pay, and it's all coming out of our pocket.
8. The Act grants to illegal aliens all the rights that legal immigrants receive, including the legal right to sponsor their parents and extended family members for entry into the U.S. This can be done without regard to "numerical caps." This provision applies to the DREAM Act applicant's parents, who are responsible for the illegal DREAM Act applicant being here in the first place. Does this stink like a skunk? The parents who came here illegally, have been here illegally for many years, will suddenly become citizens thanks to their "child" who they brought with them illegally. Only a liberal Democrat and Obama could Dream up something as stupid as this. But then, we have always known they want amnesty no matter what the cost.
9. The Act provides that current illegal aliens will get state and federal student loans, federal work study dollars and other forms of federal financial aid. And they can continue to received student loans for 8 years even if they do not get a degree. Yep, they qualify for all of it, every single thing our taxes pay for that should be spent on our citizens. So how many of your sons and daughters will not get Pell Grants, etc., because the money is going to a non-citizen? Or how many won't even get into the college of their choice or any college because the available desks are taken up by 2 million illegals? Better wake up quick, Mom and Dad. You may be footing the whole bill for your college student while also paying for this nonsense. That is if your kid even gets an acceptance letter.
10. The Act prevents the Dept. of Homeland Security from using any information provided by illegal aliens whose DREAM Act amnesty applications are denied. The information cannot be used to send the illegal alien back home, and it can't be used in any investigation or prosecution of any crime committed by the illegal alien. So if the DREAM Act application is denied the alien reverts back to their "previous immigration status," which is illegal or deportable. But the bill prohibits the government from using any information contained in the application to ship the illegal out of here. Can it get any more convoluted than this??
This DREAM Act was already rejected once by Congress. But oh, no, that's not good enough for Obama/Reid/Pelosi. They are going to give it another try during the Lame Duck session. And the rumor in Washington is that they are going to shove it through the process without hearings and the public be damned. Just like they've done with hundreds of other bills.
My thoughts on why this bill and why now? Because Obama/Reid/Pelosi are looking at the election of 2010 and they are scared. They are paying back Hispanics for sending Reid and Pelosi back to Washington. They see their prospects for 2012 as dismal. They desperately need millions of new voters who will support them. What better way to do it than to open up hundreds of entitlements to millions of illegals? Talk about buying votes? And they're doing it with your tax dollars.
The price tag? For tuition and college costs only, $44 billion. And that doesn't include the rest of the real costs of this program. With deficits drowning us, what makes anyone in Washington think anything in this Act should be the law of the land? Apparently the fiscal lesson of the 2010 election was lost to the Dems. I can't wait until January.
In the meantime call and write your Congressmen and Senators and let them know very clearly that you oppose the DREAM Act. Google their names to contact them, or click on the link in my blog. I can't guarantee that they will listen to you any more than they did last year, but if they don't, 2012 is coming soon.
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