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View Diary: Obama focuses on actions to ease student loan debt in weekly address (38 comments)

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  •  Wealth Extraction Under a Different Guise (5+ / 0-)

    Yes, that's basically the big idea, to stretch out your repayment schedule to 60 years from 30.  An even better idea would be to make the debt inheritable by your children, so that they will be responsible for paying off the ridiculous amount you couldn't.  

    Between credit card debt, student loan debt, and the mortgage scams the bankers have pulled off the biggest theft in human history and they've salted the loot away in the Caymans.  There was an article in the LA Times a couple years ago that estimated they've stolen $32 trillion dollars.  How nice would it have been to have all that money re-invested in America doing stuff like building true broadband infrastructure, a smart grid, alternative energy, feeding the hungry, etc?

    Education, like health and roads, are a public good.  If we want a competitive workforce and strong country, our people must be educated without impoverishing them in the process.  We need fully publicly funded secondary education.  If you have the smarts and work ethic to achieve, the country ought to help you, not punish you.

    •  Exactly. Capping payments only stretches them out. (1+ / 0-)
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      stewarjt

      Not only does this plan do absolutely nothing to address exploding college costs, it's only going to give more money to vultures like Sallie Mae.

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