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PAYE to be extended to pre-2007 borrowers

ALSO: Interest rates will be lowered, tax-bomb issue will be...
.,,.,...,,......,,.,,,.,.,.,.,.,.,,.  05/09/13
UPDATE?
Deliverance (Squeal Like a Pig and Other Poems)  12/03/13
NO
.,.,..,..,.,.,.:,,:,...,:::,...,:,.,.:..:.,:.:;,.  05/09/13
As much as I am against having the government rather than th...
PrestigeWhore  05/09/13
where does it say this in articles?
...,.,.,.,.,.::,.,.,.,.,;,;;;;;;,;;;,....,,.,,..,:  05/09/13
WSJ: "Borrowers in the program make monthly payments eq...
.,,.,...,,......,,.,,,.,.,.,.,.,.,,.  05/09/13
Question is, when is this going to be implemented
......,.,.,..,....,,,,,,........,,.,..,.,..,...  05/09/13
probably never
.,.,,.,.,,,..,.,.,.,...,..,.,.,.,.,..,.,.  05/09/13
It is part of the 2014 budget, so I would think early 2014 a...
.,,.,...,,......,,.,,,.,.,.,.,.,.,,.  05/09/13
so do the years i've spent under IBR roll over to PAYE?
......,.,.,..,....,,,,,,........,,.,..,.,..,...  05/09/13
Good question breh. My guess is they probably will. You can ...
.,,.,...,,......,,.,,,.,.,.,.,.,.,,.  05/09/13
YEEEEEAAAAAAHHHHHHHHHHHHHH
.,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.  05/09/13
Doesn't affect me (no debt) but if we're going to have gover...
,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.  05/09/13
most of the people affected are dumbs who spent 100k on culi...
.,.,,.,.,,,..,.,.,.,...,..,.,.,.,.,..,.,.  05/09/13
Smart or dumb is relative. Compared to the average food stam...
,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.  05/09/13
Please tell me this is real I can't bear to click on thes...
Hayden van Persie  05/09/13
it's real bro. thank obama jesus. the one fucking nice thing...
......,.,.,..,....,,,,,,........,,.,..,.,..,...  05/09/13
Man maybe I'm just exhausted but I'm not seeing that this is...
Hayden van Persie  05/09/13
It's not official yet, but house repubs are going along with...
.,,.,...,,......,,.,,,.,.,.,.,.,.,,.  05/09/13
how the fuck do they know house repubs will go along with it...
: ^)  05/10/13
They will. They're in on the law scam.
Johnsmeyer  05/10/13
I fucking hope this is true. SO HARD.
: ^)  05/10/13
Do you think the house repubs want to risk losing more suppo...
.,.,..,,.,.,..,:,,:...,:::,...,:..,.:..:.,:.::,.  09/02/13
This
I Illustrate Boom and Certain Other Threads  05/09/13
...
bloodacre  05/10/13
can someone post the wsj article?
;:......,:.....,,,,,;,;....:::...,;:  05/09/13
By JOSH MITCHELL and DOUGLAS BELKIN The White House propo...
.,,.,...,,......,,.,,,.,.,.,.,.,.,,.  05/09/13
ohmygodohmygodohmygodohmygodohmygodohmygodohmygodohmygodohmy...
Hayden van Persie  05/09/13
Don't get greedy, taking out private loans was always a real...
......,.,.,..,....,,,,,,........,,.,..,.,..,...  05/09/13
if I knew then what I know now brother
Hayden van Persie  05/09/13
How could you possibly not know then?
.,.,..,,.,.,..,:,,:...,:::,...,:..,.:..:.,:.::,.  09/02/13
Let me just hop in my time machine and correct that mis-- oh...
WakaFlakaNoFlame  05/09/13
They need to address the real problem, which is a system tha...
Judas Jones  05/10/13
During her studies her husband was laid off and she twice ha...
;;;;;;...;;;;;..;;  05/10/13
The taking out student loans to cover living expenses, and t...
PrestigeWhore  05/10/13
"After 20 years of ON-TIME payments—10 years for those ...
sealclubber  05/31/13
i don't see how this is a liberal type of policy. it frankly...
artisan bacon and heirloom tomato sandwich  11/19/13
Yeah man and McDonald's is gonna serve breakfast all day rig...
.com  05/09/13
If Obama can pull this off he will have accomplished the tri...
,.,.,.,;;:,.,.,:,.,::.,.,.,.,.,.,.,.,.,.,.  05/09/13
(true idiot)
.,,.,...,,......,,.,,,.,.,.,.,.,.,,.  05/09/13
fuck you asshole
Hayden van Persie  05/09/13
fuck you douchebag
,.,.,.,;;:,.,.,:,.,::.,.,.,.,.,.,.,.,.,.,.  05/10/13
cr
: ^)  05/10/13
http://m.usatoday.com/article/news/2116631 YEEEEEAAAAAAHH...
.,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.  05/10/13
OBAMA CAME THROUGH!!
,.,.,.,;;:,.,.,:,.,::.,.,.,.,.,.,.,.,.,.,.  05/09/13
DEMOCRAT FOR LIFE?
.,.,.,.,.,..,.,.,.,.,.,.,,......  05/10/13
I don't want to say it out loud, but fuck yea.
,.,.,.,;;:,.,.,:,.,::.,.,.,.,.,.,.,.,.,.,.  05/10/13
If I could refi my loans to 3% I'd be happier.
Citizen's arrest of Darren Williams!  05/09/13
lol were u the one who posted about ur wife doing something ...
zeke morris  05/09/13
...
playaJ  05/09/13
THank you for the links. We've all been saying that thes...
donny  05/09/13
for public universities and large non-profit privates the gr...
.,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.  05/10/13
Hell no Write my congressman.
Kenneth Pinyan  05/10/13
Lol faggot with 1% loans
donny  05/10/13
are you going to encourage him to refi all student loans to ...
.,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.  05/10/13
You got yours, asshole stay the fuck out of this
Hayden van Persie  05/10/13
Earl, don't you have a few 100k in loans still? You might b...
;;;;;;...;;;;;..;;  05/10/13
YEAHHHHH! PHD HERE I COME!!!
.,.,.,.,.,..,.,.,.,.,.,.,,......  05/10/13
http://www.youtube.com/watch?v=ghSJsEVf0pU
Johnsmeyer  05/10/13
It's a new dawn It's a new day It's a new life, for me...
Hayden van Persie  05/10/13
Settle down faggot. Nothing's official yet.
i literally only poast "thank"  05/10/13
YNY!!!!
,.,.,.,;;:,.,.,:,.,::.,.,.,.,.,.,.,.,.,.,.  05/10/13
Reminder: Obama saved your dumb asses, yet again!!!!!!!!!!
""Baudrillard""  05/10/13
Just print every citizen a million and we'll all be rich!!!
Citizen's arrest of Darren Williams!  05/10/13
Tcr
Johnsmeyer  05/10/13
I can't tell, will this lower the interest rates on CURRENT ...
Doggie Suicide  05/10/13
Are they going to get rid of the requirement that you took o...
TateDillow  05/10/13
if you haven't already, you can consolidate now to get aroun...
unkie moe  05/10/13
they should make paye available for all borrowers retroactiv...
unkie moe  05/10/13
As taxpayer, I thought I felt my ass get FUCKED last night.....
;;;;;;...;;;;;..;;  05/10/13
How long before schools start showing calculations on their ...
Judas Jones  05/10/13
300k? Go for 800k. That extra 500k is free. TTT law schoo...
;;;;;;...;;;;;..;;  05/10/13
"Mr. Petri said some congressional staffers are staying...
;;;;;;...;;;;;..;;  05/10/13
Boomers: grew up in a world where employers wanted their emp...
Hayden van Persie  05/10/13
...
.,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.  05/10/13
What u gotta say now brother?
Johnsmeyer  05/10/13
Nothing I can say, Johnsmeyer. You win.
;;;;;;...;;;;;..;;  05/10/13
18000000
Johnsmeyer  05/10/13
Should I take that trainer job I just poasted in another thr...
Johnsmeyer  05/10/13
Sure, why not? You're basically free to enjoy your life. F...
;;;;;;...;;;;;..;;  05/10/13
Ironically this jerb would qualify for PSLF.
Johnsmeyer  05/10/13
Lol I forgot about PSLF. PSLF places are probably MAF about...
;;;;;;...;;;;;..;;  05/10/13
Taxpayers must be loving this: We have one example of someo...
PrestigeWhore  05/10/13
Well put. Shit law schools, shit business schools, and all ...
;;;;;;...;;;;;..;;  05/10/13
when the DoD stops paying $35 for a hammer i'll care about t...
.,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.  05/10/13
I am actually all for loan forgiveness. I just think the un...
PrestigeWhore  05/10/13
i agree with everything you're saying, but i'm not going to ...
.,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.  05/10/13
That's the correct, self-interested view to take. For exa...
PrestigeWhore  05/10/13
hilarious fucking scum commie
sealclubber  05/31/13
$35 is cheap for a good hammer.....
.,,.,...,,......,,.,,,.,.,.,.,.,.,,.  05/10/13
In most European countries students don't have to pay anythi...
,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.  05/10/13
...
.,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.  05/10/13
in most european countries, you take a test. If you do well...
PrestigeWhore  05/10/13
"The smart 18 year olds should be going into plumbing o...
,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.  05/10/13
OH WHAT A SCHOLAR!
Johnsmeyer  05/10/13
Let's just be clear- your tax money isn't being used to pay ...
PrestigeWhore  05/10/13
(John Rawls)
Johnsmeyer  05/10/13
why is that a good thing? i don't want to pay for a four-yea...
"'"'"''"""  05/10/13
Both the Democrats and Republicans in Congress feel like it'...
,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.  05/10/13
Clearly congress is perfectly efficient and can be trusted i...
PrestigeWhore  05/10/13
lol, are you really using the voting behavior of congress as...
"'"'"''"""  05/10/13
(John Locke)
Johnsmeyer  05/10/13
It's admittedly an intangible benefit. For me it comes down ...
,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.  05/10/13
"that he no doubt is aware of." Disagree. Our...
PrestigeWhore  05/10/13
its less that, its more that people with debt are more likel...
PrestigeWhore  05/10/13
I agree with that. But you can still look at the hard data a...
,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.  05/10/13
You are literally insane if you think the propping up of hig...
PrestigeWhore  05/10/13
what if you took your loans from 2008-2010? dat donut?
.,.,,.,.,,,..,.,.,.,...,..,.,.,.,.,..,.,.  05/10/13
The October 2007 cutoff was pretty stupid, especially becaus...
dudedude12  05/11/13
stfu, you're just a disinformation whore
: ^)  05/13/13
...
Johnsmeyer  05/12/13
...
.,,.,...,,......,,.,,,.,.,.,.,.,.,,.  05/22/13
...
.,,.,...,,......,,.,,,.,.,.,.,.,.,,.  05/31/13
LJL @ me I took out $60k to go to UT instead of picking C...
Diamond Dallas Chad  05/31/13
less than 1% of borrowers, about 166,000 people, have balanc...
.,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.  05/31/13
how many of those were law or med students? 95%?
,,,...,,......,,....  05/31/13
don't forget dental
donny  05/31/13
the schools are the ones that need to be punished for allowi...
donny  05/31/13
interest is actually capped at like 50% of original principa...
.,,.,...,,......,,.,,,.,.,.,.,.,.,,.  05/31/13
capped at 10%
,..,.,.,.,.,.,..,.,.,.,.,.,..,.,.,.,.,..,.,.,.,.,.  05/31/13
*copped
zeke morris  05/31/13
...
.,,.,...,,......,,.,,,.,.,.,.,.,.,,.  06/03/13
why the bump? are you still hopeful of this actually happ...
Uncle Ruckus  06/03/13
not happening. Bill fell through
Johnsmeyer  06/06/13
3 days before your debt was supposed to be forgiven, Rains o...
;;;;;;...;;;;;..;;  06/03/13
...
.,.,...,..,.,.,:,,:,.,.,:::,...,:,...:..:.,:.::,.  06/06/13
...
autumntime summertime gedood persoon  06/19/13
So did this pass?
Hayden van Persie  07/31/13
Nah
Johnsmeyer  08/08/13
Blumenthal fought HARD for it, but he lost.
;;;;;;...;;;;;..;;  08/11/13
...
Johnsmeyer  08/11/13
...
Johnsmeyer  08/15/13
Did this pass, bro?
;;;;;;...;;;;;..;;  08/15/13
YEP TODAY!
Johnsmeyer  08/15/13
...
50% Complete (visual learner)  08/15/13
so this is dead?
autumntime summertime gedood persoon  09/02/13
Yep
Johnsmeyer  09/02/13
fuckkkkkkkkkkkkkkkkkkkkk
autumntime summertime gedood persoon  09/02/13
Tell me about it
Johnsmeyer  09/02/13
Lol it's not dead. Obama was campaigning for it just a week...
;;;;;;...;;;;;..;;  09/02/13
i hate that this garbage website is the number one most acce...
bigdogEAT  09/02/13
so paye hasn't been extended to pre-2007 borrowers?
...,.,.,.,...,..,,..,,.,.,.,..,.,.,.,.,..,,,,  09/02/13
It has. They extended it Friday
Johnsmeyer  09/02/13
You're an asshole.
: ^)  09/02/13
...
Johnsmeyer  09/18/13
...
donny  11/19/13
Any Updates on this?
Deliverance (Squeal Like a Pig and Other Poems)  12/03/13
http://xoxohth.com/thread.php?thread_id=2446384&mc=27&am...
.,,.,...,,......,,.,,,.,.,.,.,.,.,,.  12/19/13


Poast new message in this thread



Reply

Date: May 9th, 2013 9:01 PM
Author: .,,.,...,,......,,.,,,.,.,.,.,.,.,,.

ALSO: Interest rates will be lowered, tax-bomb issue will be resolved.

It turns out that both sides of the aisle are in the pockets of the higher ed scam. Kind of like the immigration issue and just about everything else these days. Make no mistke: they are enacting this for the higher ed scam industry, not for students. A real policy (free market) would result in us being able to pay tuition with summer earnings like the boomers did.

These things fuck us all over in the long run. But at least student debtors get their moment in the sun here. The govt owns everything now, we're all just special interests hoping for some scraps of the pie to fall from the table after the big boys are done.

http://online.wsj.com/article/SB10001424127887324059704578471223436096876.html

http://www.thedenverchannel.com/news/politics/republicans-to-back-obamas-student-loan-plan

http://www.huffingtonpost.com/2013/04/10/obama-budget-student-loans_n_3054677.html

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167664)



Reply

Date: December 3rd, 2013 1:11 PM
Author: Deliverance (Squeal Like a Pig and Other Poems)

UPDATE?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#24558389)



Reply

Date: May 9th, 2013 9:03 PM
Author: .,.,..,..,.,.,.:,,:,...,:::,...,:,.,.:..:.,:.:;,.

NO

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167676)



Reply

Date: May 9th, 2013 9:07 PM
Author: PrestigeWhore

As much as I am against having the government rather than the universities pay for the mistakes you guys, it didn't make any sense to fuck over pre-2007 people.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167692)



Reply

Date: May 9th, 2013 9:10 PM
Author: ...,.,.,.,.,.::,.,.,.,.,;,;;;;;;,;;;,....,,.,,..,:

where does it say this in articles?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167713)



Reply

Date: May 9th, 2013 9:12 PM
Author: .,,.,...,,......,,.,,,.,.,.,.,.,.,,.

WSJ: "Borrowers in the program make monthly payments equivalent to 10% of their income after taxes and basic living expenses, regardless of how much they owe. After 20 years of on-time payments—10 years for those who work in public or nonprofit jobs—the balance is forgiven.

Under the program, most borrowers with loans issued since October 2007 are eligible to participate. The budget proposal—which requires congressional approval—would let all borrowers with pre-2007 loans participate and would make tax exempt any debt forgiven through the program. (Loan forgiveness can be considered taxable income.)"

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167726)



Reply

Date: May 9th, 2013 9:14 PM
Author: ......,.,.,..,....,,,,,,........,,.,..,.,..,...

Question is, when is this going to be implemented

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167736)



Reply

Date: May 9th, 2013 9:15 PM
Author: .,.,,.,.,,,..,.,.,.,...,..,.,.,.,.,..,.,.

probably never

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167741)



Reply

Date: May 9th, 2013 9:16 PM
Author: .,,.,...,,......,,.,,,.,.,.,.,.,.,,.

It is part of the 2014 budget, so I would think early 2014 at the latest.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167743)



Reply

Date: May 9th, 2013 9:17 PM
Author: ......,.,.,..,....,,,,,,........,,.,..,.,..,...

so do the years i've spent under IBR roll over to PAYE?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167755)



Reply

Date: May 9th, 2013 9:18 PM
Author: .,,.,...,,......,,.,,,.,.,.,.,.,.,,.

Good question breh. My guess is they probably will. You can go read the budget but this level of detail may not be ironed out yet.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167763)



Reply

Date: May 9th, 2013 9:24 PM
Author: .,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.

YEEEEEAAAAAAHHHHHHHHHHHHHH

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167804)



Reply

Date: May 9th, 2013 9:26 PM
Author: ,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.

Doesn't affect me (no debt) but if we're going to have government welfare I'd rather see it go to the smarts in society than the dumbs.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167812)



Reply

Date: May 9th, 2013 9:27 PM
Author: .,.,,.,.,,,..,.,.,.,...,..,.,.,.,.,..,.,.

most of the people affected are dumbs who spent 100k on culinary arts educations or similar shit like Cooley

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167823)



Reply

Date: May 9th, 2013 9:28 PM
Author: ,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.

Smart or dumb is relative. Compared to the average food stamp guy, the average PAYE guy is smart.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167828)



Reply

Date: May 9th, 2013 9:29 PM
Author: Hayden van Persie

Please tell me this is real

I can't bear to click on these links only to have my heart broken by vicious flame

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167830)



Reply

Date: May 9th, 2013 9:34 PM
Author: ......,.,.,..,....,,,,,,........,,.,..,.,..,...

it's real bro. thank obama jesus. the one fucking nice thing he's done for us.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167855)



Reply

Date: May 9th, 2013 9:44 PM
Author: Hayden van Persie

Man maybe I'm just exhausted but I'm not seeing that this is definite. From the third article:

A Department of Education official, Carmel Martin, said Wednesday that instead of capping interest rates, the administration wants to expand a program that allows borrowers to tie monthly student loan payments to income.

That program, which pegs loan payments to 10 percent of discretionary income, now only affects borrowers who took out loans after 2007. The administration's plan would expand the program to all student borrowers.

"The pay-as-you-earn initiative is to ensure that regardless of what interest rate is on the loan, no borrower has to pay back an unmanageable amount of money," said Martin, the assistant secretary of education for planning, evaluation and policy development.

__

so it sounds like this is just something that they want? Or was it agreed upon? idfk man I'm fucking tired as hell right now

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167924)



Reply

Date: May 9th, 2013 9:46 PM
Author: .,,.,...,,......,,.,,,.,.,.,.,.,.,,.

It's not official yet, but house repubs are going along with it, so it might as well be.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167937)



Reply

Date: May 10th, 2013 1:31 PM
Author: : ^)

how the fuck do they know house repubs will go along with it? they literally don't go along with ANYTHING Obama does

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23171833)



Reply

Date: May 10th, 2013 1:48 PM
Author: Johnsmeyer

They will. They're in on the law scam.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23171951)



Reply

Date: May 10th, 2013 2:18 PM
Author: : ^)

I fucking hope this is true. SO HARD.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172100)



Reply

Date: September 2nd, 2013 10:56 AM
Author: .,.,..,,.,.,..,:,,:...,:::,...,:..,.:..:.,:.::,.

Do you think the house repubs want to risk losing more support from this generation? If they don't back this then story turns into boomers waging war on gen y.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23979468)



Reply

Date: May 9th, 2013 9:37 PM
Author: I Illustrate Boom and Certain Other Threads (80% of my max stim 6 times)

This

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167865)



Reply

Date: May 10th, 2013 10:33 AM
Author: bloodacre



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170979)



Reply

Date: May 9th, 2013 9:36 PM
Author: ;:......,:.....,,,,,;,;....:::...,;: (visiting trap scholar)

can someone post the wsj article?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167860)



Reply

Date: May 9th, 2013 9:41 PM
Author: .,,.,...,,......,,.,,,.,.,.,.,.,.,,.

By JOSH MITCHELL and DOUGLAS BELKIN

The White House proposes that the government forgive billions of dollars in student debt over the next decade, a plan that cheers student advocates, but critics say it would expand a program that already encourages students to borrow too much and stick taxpayers with the bill.

The proposal, included in President Barack Obama's budget for next year, would increase the number of borrowers eligible for a program known casually as income-based repayment, which aims to help low-income workers stay current on federal student debt.

Enlarge Image

Michal Czerwonka for The Wall Street Journal

Liliana Rodriguez-Marshall, a recent graduate of Southwestern Law School in Los Angeles, owes more than $300,000 in federal loans.

Borrowers in the program make monthly payments equivalent to 10% of their income after taxes and basic living expenses, regardless of how much they owe. After 20 years of on-time payments—10 years for those who work in public or nonprofit jobs—the balance is forgiven.

Under the program, most borrowers with loans issued since October 2007 are eligible to participate. The budget proposal—which requires congressional approval—would let all borrowers with pre-2007 loans participate and would make tax exempt any debt forgiven through the program. (Loan forgiveness can be considered taxable income.)

Recent research by economists cautions that a college degree is no guarantee of promising employment, Brenda Cronin reports on MoneyBeat. Photo: Getty Images.

Administration officials and student advocates say the expansion is needed to stem rising defaults on federal loans and prevent the related damage to households and the economy.

Abraham White of Campus Progress, part of the liberal think tank Center for American Progress, said Mr. Obama's plan "ensures that monthly payments are affordable" for all borrowers and "creates a reasonable pathway to paying off their debt, which benefits the whole economy."

Enlarge Image

Thursday, the debate over federal student loans intensified with House Republicans and Senate Democrats introducing dueling bills that would replace the current fixed rates with variable rates tied to the government's borrowing costs.

A bill by House Education Committee Chairman John Kline (R., Minn.) would set rates higher than those proposed by the No. 2 Senate Democrat, Richard Durbin of Illinois, but also cap rates so they don't exceed a certain threshold. The measures are designed to prevent rates on certain new federal loans from doubling to 6.8% starting July 1.

Related

Video: Grading Colleges By Student Debt

It isn't clear whether Congress will approve Mr. Obama's proposal. Lawmakers have been gridlocked over budget issues and some GOP lawmakers and private analysts have criticized the current income-based repayment program. In their view, it encourages students to take on big debt, knowing much of it will be forgiven, and enables schools to raise tuition, relying on the government to pick up the tab.

Critics also see debt forgiveness as a taxpayer gift for those who need it the least: white-collar graduate-degree holders, such as lawyers and doctors.

"I think of it as a ticking time bomb," Rep. Tom Petri (R., Wis.), a senior member of the House Education Committee, said of the current program.

Liliana Rodriguez-Marshall, a 30-year-old mother of three who graduated from Southwestern Law School in Los Angeles in December owing more than $300,000 in federal loans, plans to take advantage of the current program.

"Without it [my debt] would be unmanageable," she said.

Ms. Rodriguez-Marshall said she racked up the debt by spreading her degree over 4½ years from the normal three and taking out student loans to cover living expenses, which the government allows.

During her studies her husband was laid off and she twice had to take out emergency student loans totaling more than $30,000 to make home repairs, pay unexpected medical costs and keep up with the family's $1,000-per-month health-insurance bills, she said.

She now is applying for government jobs that pay about $55,000 a year. According to a repayment calculator created by the New American Foundation, a Washington-based think tank, Ms. Rodriguez-Marshall would pay $273 per month in her first year under the program; without it, she would owe $3,562 a month. Under the program, she would pay about $102,000 over 10 years, and the government would forgive about $639,000, which includes interest.

The two sides disagree about the costs of loan forgiveness. The Education Department estimates that under the current program, 400,000 borrowers will have an average $41,000 in student debt forgiven through 2021, totaling $16.4 billion. The department says the cost will be covered in part by interest payments on student loans.

Department spokesman Daren Briscoe said it didn't have an estimate of the cost of the proposal to expand the program.

Critics say the administration underestimates the costs. Economists at Barclays PLC said the current program, along with loan defaults, could cost the government $300 billion between now and 2020. Barclays hasn't released an estimate of the Obama proposal's costs.

The income-based repayment program was created by law in 2007 during the Bush administration, with payments limited then to 15% of income and continuing for 25 years before the balance was forgiven.

In 2010, as part of Mr. Obama's health-care overhaul, the income limit was to be lowered to 10% and the repayment period shortened to 10 years for public-service workers and 20 years for private-sector workers, beginning with loans made in July 2014. Mr. Obama, through an executive action, moved up the start date of these rules to December and covered loans made since October 2007.

The government caps the amount that an undergraduate student can borrow, at $57,500. However, graduate students essentially have no cap—the so-called "Grad Plus" program allows them to borrow up to whatever their respective college charges.

Mr. Petri said some congressional staffers are staying in government jobs, rather than go into the private sector, specifically to take advantage of the program's terms. "Some of them are very aware they've taken out big student loans and then they're deciding where they're going to work" based on how much debt would be forgiven.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167897)



Reply

Date: May 9th, 2013 9:46 PM
Author: Hayden van Persie

ohmygodohmygodohmygodohmygodohmygodohmygodohmygodohmygodohmygodohmygod

Now if they'll just allow private loan consolidation with federal student loans

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167935)



Reply

Date: May 9th, 2013 9:48 PM
Author: ......,.,.,..,....,,,,,,........,,.,..,.,..,...

Don't get greedy, taking out private loans was always a really fucking bad idea.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167950)



Reply

Date: May 9th, 2013 9:53 PM
Author: Hayden van Persie

if I knew then what I know now brother



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167973)



Reply

Date: September 2nd, 2013 10:58 AM
Author: .,.,..,,.,.,..,:,,:...,:::,...,:..,.:..:.,:.::,.

How could you possibly not know then?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23979475)



Reply

Date: May 9th, 2013 10:28 PM
Author: WakaFlakaNoFlame

Let me just hop in my time machine and correct that mis-- oh wait. . .

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23168255)



Reply

Date: May 10th, 2013 10:03 AM
Author: Judas Jones

They need to address the real problem, which is a system that permits this:

'Liliana Rodriguez-Marshall, a 30-year-old mother of three who graduated from Southwestern Law School in Los Angeles in December owing more than $300,000 in federal loans, plans to take advantage of the current program.

"Without it [my debt] would be unmanageable," she said.

Ms. Rodriguez-Marshall said she racked up the debt by spreading her degree over 4½ years from the normal three and taking out student loans to cover living expenses, which the government allows.

During her studies her husband was laid off and she twice had to take out emergency student loans totaling more than $30,000 to make home repairs, pay unexpected medical costs and keep up with the family's $1,000-per-month health-insurance bills, she said.'



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170841)



Reply

Date: May 10th, 2013 10:04 AM
Author: ;;;;;;...;;;;;..;;

During her studies her husband was laid off and she twice had to take out emergency student loans totaling more than $30,000 to make home repairs, pay unexpected medical costs and keep up with the family's $1,000-per-month health-insurance bills, she said.'

LOLOL Sounds like she wins.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170845)



Reply

Date: May 10th, 2013 1:36 PM
Author: PrestigeWhore

The taking out student loans to cover living expenses, and then having the government pay for that, is indistinguishable from food stamps.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23171861)



Reply

Date: May 31st, 2013 7:53 PM
Author: sealclubber

"After 20 years of ON-TIME payments—10 years for those who work in public or nonprofit jobs—the balance is forgiven."

so the people who really need the help and can't make payments on time, get fucked

fuck libs

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23307143)



Reply

Date: November 19th, 2013 9:09 AM
Author: artisan bacon and heirloom tomato sandwich

i don't see how this is a liberal type of policy. it frankly sounds like something that would be pushed by conservatives.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#24467924)



Reply

Date: May 9th, 2013 9:39 PM
Author: .com

Yeah man and McDonald's is gonna serve breakfast all day right

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167884)



Reply

Date: May 9th, 2013 9:40 PM
Author: ,.,.,.,;;:,.,.,:,.,::.,.,.,.,.,.,.,.,.,.,.

If Obama can pull this off he will have accomplished the trifecta and will go down as the greatest president in history, in my book.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167894)



Reply

Date: May 9th, 2013 9:41 PM
Author: .,,.,...,,......,,.,,,.,.,.,.,.,.,,.

(true idiot)

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167900)



Reply

Date: May 9th, 2013 9:46 PM
Author: Hayden van Persie

fuck you asshole

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167939)



Reply

Date: May 10th, 2013 7:23 AM
Author: ,.,.,.,;;:,.,.,:,.,::.,.,.,.,.,.,.,.,.,.,.

fuck you douchebag

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170571)



Reply

Date: May 10th, 2013 1:33 PM
Author: : ^)

cr

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23171844)



Reply

Date: May 10th, 2013 12:26 AM
Author: .,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.

http://m.usatoday.com/article/news/2116631

YEEEEEAAAAAAHHHHHHHHHH

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23169539)



Reply

Date: May 9th, 2013 9:39 PM
Author: ,.,.,.,;;:,.,.,:,.,::.,.,.,.,.,.,.,.,.,.,.

OBAMA CAME THROUGH!!

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167886)



Reply

Date: May 10th, 2013 4:16 AM
Author: .,.,.,.,.,..,.,.,.,.,.,.,,......

DEMOCRAT FOR LIFE?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170460)



Reply

Date: May 10th, 2013 7:22 AM
Author: ,.,.,.,;;:,.,.,:,.,::.,.,.,.,.,.,.,.,.,.,.

I don't want to say it out loud, but fuck yea.



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170570)



Reply

Date: May 9th, 2013 9:45 PM
Author: Citizen's arrest of Darren Williams!

If I could refi my loans to 3% I'd be happier.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167928)



Reply

Date: May 9th, 2013 9:47 PM
Author: zeke morris

lol were u the one who posted about ur wife doing something ridiculous

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167945)



Reply

Date: May 9th, 2013 9:49 PM
Author: playaJ



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23167953)



Reply

Date: May 9th, 2013 11:35 PM
Author: donny

THank you for the links.

We've all been saying that these interest rates are BS because of the historic lows in rates for borrowing in other areas, so I"m glad that's a consideration now.

I'm also glad that they are considering expanding PAYE, but they really, really, really need to do something to help limit tuition costs.

The lower interest rates and payment plans are a stopgap measure--the eventual endpoint on this trajectory is that schools will keep increasing tuition that the gov't will keep paying the costs through PAYE without regard to what outcomes the schools have for students and what value they add.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23169043)



Reply

Date: May 10th, 2013 12:27 AM
Author: .,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.

for public universities and large non-profit privates the gravy train is going to continue for at least 10 more years, probably longer

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23169552)



Reply

Date: May 10th, 2013 12:36 AM
Author: Kenneth Pinyan (earl)

Hell no

Write my congressman.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23169624)



Reply

Date: May 10th, 2013 12:44 AM
Author: donny

Lol faggot with 1% loans

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23169661)



Reply

Date: May 10th, 2013 12:45 AM
Author: .,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.

are you going to encourage him to refi all student loans to 1%?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23169667)



Reply

Date: May 10th, 2013 7:20 AM
Author: Hayden van Persie

You got yours, asshole

stay the fuck out of this

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170568)



Reply

Date: May 10th, 2013 9:07 AM
Author: ;;;;;;...;;;;;..;;

Earl, don't you have a few 100k in loans still? You might be able to take advantage of this.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170680)



Reply

Date: May 10th, 2013 4:13 AM
Author: .,.,.,.,.,..,.,.,.,.,.,.,,......

YEAHHHHH! PHD HERE I COME!!!

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170458)



Reply

Date: May 10th, 2013 6:03 AM
Author: Johnsmeyer

http://www.youtube.com/watch?v=ghSJsEVf0pU

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170523)



Reply

Date: May 10th, 2013 7:15 AM
Author: Hayden van Persie

It's a new dawn

It's a new day

It's a new life, for me

And I'm feeling, good

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170563)



Reply

Date: May 10th, 2013 7:26 AM
Author: i literally only poast "thank"

Settle down faggot. Nothing's official yet.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170577)



Reply

Date: May 10th, 2013 7:25 AM
Author: ,.,.,.,;;:,.,.,:,.,::.,.,.,.,.,.,.,.,.,.,.

YNY!!!!

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170574)



Reply

Date: May 10th, 2013 7:26 AM
Author: ""Baudrillard""

Reminder: Obama saved your dumb asses, yet again!!!!!!!!!!

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170576)



Reply

Date: May 10th, 2013 8:25 AM
Author: Citizen's arrest of Darren Williams!

Just print every citizen a million and we'll all be rich!!!

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170616)



Reply

Date: May 10th, 2013 8:30 AM
Author: Johnsmeyer

Tcr

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170619)



Reply

Date: May 10th, 2013 8:51 AM
Author: Doggie Suicide

I can't tell, will this lower the interest rates on CURRENT outstanding loans?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170649)



Reply

Date: May 10th, 2013 8:58 AM
Author: TateDillow

Are they going to get rid of the requirement that you took out a loan post Oct. 2011? If not, the entire thing is sps.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170663)



Reply

Date: May 10th, 2013 9:01 AM
Author: unkie moe

if you haven't already, you can consolidate now to get around that

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170670)



Reply

Date: May 10th, 2013 9:03 AM
Author: unkie moe

they should make paye available for all borrowers retroactively and going forward put lending caps on grad plus loans - effectively force the schools to lower their tuition to be within the bounds of what students are allowed to borrow.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170672)



Reply

Date: May 10th, 2013 9:09 AM
Author: ;;;;;;...;;;;;..;;

As taxpayer, I thought I felt my ass get FUCKED last night..

BOALT TO 694K.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170684)



Reply

Date: May 10th, 2013 10:07 AM
Author: Judas Jones

How long before schools start showing calculations on their respective websites demonstrating how students will never pay back the majority of the loan amounts they accrue, to show students how insignificant racking up 300k in debt really is?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170857)



Reply

Date: May 10th, 2013 10:31 AM
Author: ;;;;;;...;;;;;..;;

300k? Go for 800k. That extra 500k is free. TTT law school deans must be so fucking pumped right now.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170975)



Reply

Date: May 10th, 2013 9:28 AM
Author: ;;;;;;...;;;;;..;;

"Mr. Petri said some congressional staffers are staying in government jobs, rather than go into the private sector, specifically to take advantage of the program's terms. "Some of them are very aware they've taken out big student loans and then they're deciding where they're going to work" based on how much debt would be forgiven."

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170720)



Reply

Date: May 10th, 2013 9:48 AM
Author: Hayden van Persie

Boomers: grew up in a world where employers wanted their employees to spend an entire career with them

Boomers: become violent, incomprehensible lunatics if they see a millenial in a secure, 9-5 job with benefits

"Some of them are very aware how fucked they'd be if they left, but for some reason they don't, " he said. "It's almost as though they're onto us. Like, they know we don't give a fuck about tuiton costs rising, and we certainly don't fucking care about their trying to pay back $1,000 or more a month for the next 25 years. These dickheads just need to gtfo, even if it means they'll starve. I mean seriously, fuck those cocksuckers."

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170778)



Reply

Date: May 10th, 2013 1:00 PM
Author: .,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23171628)



Reply

Date: May 10th, 2013 9:50 AM
Author: Johnsmeyer

What u gotta say now brother?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170781)



Reply

Date: May 10th, 2013 9:55 AM
Author: ;;;;;;...;;;;;..;;

Nothing I can say, Johnsmeyer. You win.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170800)



Reply

Date: May 10th, 2013 9:56 AM
Author: Johnsmeyer

18000000

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170808)



Reply

Date: May 10th, 2013 9:56 AM
Author: Johnsmeyer

Should I take that trainer job I just poasted in another thread?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170809)



Reply

Date: May 10th, 2013 10:00 AM
Author: ;;;;;;...;;;;;..;;

Sure, why not? You're basically free to enjoy your life. Fuck the taxpayers.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170827)



Reply

Date: May 10th, 2013 10:01 AM
Author: Johnsmeyer

Ironically this jerb would qualify for PSLF.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170829)



Reply

Date: May 10th, 2013 10:02 AM
Author: ;;;;;;...;;;;;..;;

Lol I forgot about PSLF. PSLF places are probably MAF about all this.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23170836)



Reply

Date: May 10th, 2013 1:41 PM
Author: PrestigeWhore

Taxpayers must be loving this:

We have one example of someone who might look similar to an MBA student. He starts out with a starting salary of $90,000 and by the end of 20 years is making $243,360. Under the old IBR program, he’ll have paid $409,445 by year 25 and be forgiven $23,892 of his loan balance. Under the new IBR repayment plan he’ll pay less than half of that, or $202,299, and be forgiven $208,259 by year 20. The old IBR plan was punitive if you borrowed a lot of money, made you pay more over time and trapped you, so there were serious consequences to doing that. It was a downside and a pretty big risk, which is why you didn’t see people borrowing without regard to how much it will cost. The new plan essentially eliminates any downside or risk for that type of behavior, and cuts payments in half and then some.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23171902)



Reply

Date: May 10th, 2013 1:49 PM
Author: ;;;;;;...;;;;;..;;

Well put. Shit law schools, shit business schools, and all other forms of higher education just became a much better investment.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23171957)



Reply

Date: May 10th, 2013 1:57 PM
Author: .,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.

when the DoD stops paying $35 for a hammer i'll care about the burden on taxpayers from loan forgiveness. it's so small from the government's perspective yet such a huge thing for individuals and the economy as a whole.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172009)



Reply

Date: May 10th, 2013 2:00 PM
Author: PrestigeWhore

I am actually all for loan forgiveness. I just think the universities should have to chip in. I don't understand why Harvard and Yale get to keep billion dollar endowments while the US gov't has to clean up the mess.

Instead of actually solving the problem, Obama is just writing a check and letting the problem fester. It's exactly what is wrong with our government. No one actually wants to deal with the special interests involved.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172029)



Reply

Date: May 10th, 2013 2:03 PM
Author: .,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.

i agree with everything you're saying, but i'm not going to let any of that get in the way of supporting anything that reduces loans, rest of society be damned

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172039)



Reply

Date: May 10th, 2013 2:19 PM
Author: PrestigeWhore

That's the correct, self-interested view to take.

For example, I wouldn't stop the government from eliminating all taxes on lawyers. It doesn't mean I think its the right policy approach to take.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172108)



Reply

Date: May 31st, 2013 8:10 PM
Author: sealclubber

hilarious

fucking scum commie

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23307228)



Reply

Date: May 10th, 2013 9:09 PM
Author: .,,.,...,,......,,.,,,.,.,.,.,.,.,,.

$35 is cheap for a good hammer.....

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23174388)



Reply

Date: May 10th, 2013 2:17 PM
Author: ,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.

In most European countries students don't have to pay anything at all for college. This just puts the US in kind of a happy medium between that and the old punitive rules.

Of course it's a subsidy, but if it keeps a smart 18 year old interested in liberal arts from having to go to plumbing school instead of college then it's a good thing. There's a whole lot worse things we could and do subsidize, such as quadruple bypasses for 85 year olds.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172098)



Reply

Date: May 10th, 2013 2:19 PM
Author: .,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172111)



Reply

Date: May 10th, 2013 2:23 PM
Author: PrestigeWhore

in most european countries, you take a test. If you do well, you go to university. If you don't, you go get a job.

The smart 18 year olds should be going into plumbing or constructing, not getting a 200k degree in english.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172123)



Reply

Date: May 10th, 2013 2:32 PM
Author: ,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.

"The smart 18 year olds should be going into plumbing or constructing, not getting a 200k degree in english."

I just disagree. I think it just makes a country better to have smart students who are educated in things like the liberal arts. Call me elitist, but I think this country will be going backwards if the kids who went to study history 10 years ago suddenly have to spend their lives hanging sheetrock.

If we have to give subsidies to allow smart kids to study liberal arts, I don't mind my tax money going for that purpose. Our universities are the envy of the world for a reason. This country is going downhill in so many ways, we ought to be holding on to this rare bright spot, and subsidizing it where necessary.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172158)



Reply

Date: May 10th, 2013 2:35 PM
Author: Johnsmeyer

OH WHAT A SCHOLAR!

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172173)



Reply

Date: May 10th, 2013 2:36 PM
Author: PrestigeWhore

Let's just be clear- your tax money isn't being used to pay for intelligent students to learn liberal arts. That probably costs about 10k a year per intelligent student. The extra 40k (and soon to be 90k, i'm sure) is being used to fund endowments, huge construction projects, state of the art gyms and sports facilities, etc., so that the students can have a 4 year booze fest, graduate without jobs, and then get the gov't to pay. Additionally, a large portion of the bill is to fund the permanent tenure for ultra-liberal professors, essentially creating ultra-liberal thinktanks that have no connection to public will. There are no controls on the quality of education or how it links to productivity or intelligence, or how it tracks general public sentiment.

The European model you cited is completely different.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172180)



Reply

Date: May 10th, 2013 2:37 PM
Author: Johnsmeyer

(John Rawls)

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172187)



Reply

Date: May 10th, 2013 2:33 PM
Author: "'"'"''"""

why is that a good thing? i don't want to pay for a four-year vacation for someone so they can feel more enlightened. if it doesn't make more productive workers, society shouldn't be paying for it.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172162)



Reply

Date: May 10th, 2013 2:34 PM
Author: ,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.

Both the Democrats and Republicans in Congress feel like it's a worthwhile investment, and I agree with them. You seem to be outvoted.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172167)



Reply

Date: May 10th, 2013 2:38 PM
Author: PrestigeWhore

Clearly congress is perfectly efficient and can be trusted in determining quality investments when special interest groups are involved.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172190)



Reply

Date: May 10th, 2013 2:38 PM
Author: "'"'"''"""

lol, are you really using the voting behavior of congress as evidence of a policy being correct? pretty much no one has really sat down and thought carefully about our educational policies. the level analysis is usually, "college graduates earn more, so we need more of them. durrrrr" congress reflects the popular view that education is the key to social ills, but there's little evidence the popular view is correct. i'd certainly like to see empirical evidence that we gain something significant when someone spends four to six years studying history or political science.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172194)



Reply

Date: May 10th, 2013 2:39 PM
Author: Johnsmeyer

(John Locke)

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172197)



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Date: May 10th, 2013 2:46 PM
Author: ,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.

It's admittedly an intangible benefit. For me it comes down to what kind of country you want to live in and your kids to grow up in.

The kid who studies history instead of engineering is already taking a huge financial hit, that he no doubt is aware of. I just prefer that the option for him to do so exist.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172242)



Reply

Date: May 10th, 2013 2:49 PM
Author: PrestigeWhore

"that he no doubt is aware of."

Disagree. Our whole system pushes these kids through college. Not it will do so even more.

What we are saying is that it would be better if kids were funneled into careers that actually were in need.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172253)



Reply

Date: May 10th, 2013 2:48 PM
Author: PrestigeWhore

its less that, its more that people with debt are more likely to vote for people relieving the debt, whereas people without debt are confused about the consequences of relieving debt, so you get more out of relieving the debt than backlash.

its the same reason why handouts are so popular and hard to stop. collective action problem.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172250)



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Date: May 10th, 2013 2:53 PM
Author: ,:;;.:;,,;.,,,.;;,,;.,;;;..;,;:;.':.,,,:,,;;.;:.

I agree with that. But you can still look at the hard data about what is being subsidized and decide whether you agree with it or not.

One reason I agree with it is that every dollar of our national resources that is funneled to young smart kids and their universities is a dollar that can't be funneled to keep some 85 year old geezer alive a few more days.

This is a rare instance in which the gravy train is being diverted to the smart members of the younger generation.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172270)



Reply

Date: May 10th, 2013 4:33 PM
Author: PrestigeWhore

You are literally insane if you think the propping up of high tuition costs (which is what this does) isn't the biggest boomer scam in this country.

Who do you think benefits by the huge endowments? It is the school admins, boards of directors and other staff. Boomers.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172921)



Reply

Date: May 10th, 2013 4:32 PM
Author: .,.,,.,.,,,..,.,.,.,...,..,.,.,.,.,..,.,.

what if you took your loans from 2008-2010?

dat donut?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23172919)



Reply

Date: May 11th, 2013 1:02 PM
Author: dudedude12

The October 2007 cutoff was pretty stupid, especially because people starting in 2007 got their loans in August.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23176934)



Reply

Date: May 13th, 2013 12:07 PM
Author: : ^)

stfu, you're just a disinformation whore

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23189214)



Reply

Date: May 12th, 2013 2:39 PM
Author: Johnsmeyer



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23183431)



Reply

Date: May 22nd, 2013 8:20 PM
Author: .,,.,...,,......,,.,,,.,.,.,.,.,.,,.



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23250945)



Reply

Date: May 31st, 2013 1:58 PM
Author: .,,.,...,,......,,.,,,.,.,.,.,.,.,,.



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23305154)



Reply

Date: May 31st, 2013 2:19 PM
Author: Diamond Dallas Chad (Curls in the squat rack master man)

LJL @ me

I took out $60k to go to UT instead of picking CCN

Unless this faggot 6.8% interest rate gets lowered, I don't see this helping at all...it's probably just better to pay the loans. It's likely that I'd pay more total on PAYE due to early payments not covering interest, and then me making enough later on that I end up paying the entire balance and not getting anything forgiven.

It's fucking stupid to completely unlink repayments from the amount of loans taken out. People with $300k deserve to be punished.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23305248)



Reply

Date: May 31st, 2013 2:23 PM
Author: .,,.....,.,.,.,:,,:.,..,:::.,,.,:,.,.:..:.,:.::,.

less than 1% of borrowers, about 166,000 people, have balances greater than 200K

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23305264)



Reply

Date: May 31st, 2013 7:37 PM
Author: ,,,...,,......,,....

how many of those were law or med students? 95%?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23307043)



Reply

Date: May 31st, 2013 8:00 PM
Author: donny

don't forget dental

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23307178)



Reply

Date: May 31st, 2013 8:04 PM
Author: donny

the schools are the ones that need to be punished for allowing tuition to get to $300k. Boalt is $300k in total COA (including tuition increases and interest, not including summer costs). That is criminal.

Overall, students are fucked if they do and fucked if they don't. The gov't created/allowed this problem to happen, necessitating these payment plans.

I agree that it's stupid to unlink repayments to amoutn of loans taken out, not because people with high loans should be punished, but schools need to be held accountable for their tuition increases--there should be requirements they have to meet in order to receive gov't loan dollars, and they should also have tuition capped

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23307205)



Reply

Date: May 31st, 2013 9:32 PM
Author: .,,.,...,,......,,.,,,.,.,.,.,.,.,,.

interest is actually capped at like 50% of original principal. its very generous

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23307684)



Reply

Date: May 31st, 2013 10:48 PM
Author: ,..,.,.,.,.,.,..,.,.,.,.,.,..,.,.,.,.,..,.,.,.,.,.

capped at 10%

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23308167)



Reply

Date: May 31st, 2013 11:00 PM
Author: zeke morris

*copped

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23308251)



Reply

Date: June 3rd, 2013 4:12 PM
Author: .,,.,...,,......,,.,,,.,.,.,.,.,.,,.



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23323835)



Reply

Date: June 3rd, 2013 4:17 PM
Author: Uncle Ruckus (Had to be done)

why the bump?

are you still hopeful of this actually happening?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23323860)



Reply

Date: June 6th, 2013 3:56 PM
Author: Johnsmeyer

not happening. Bill fell through

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23341309)



Reply

Date: June 3rd, 2013 4:18 PM
Author: ;;;;;;...;;;;;..;;

3 days before your debt was supposed to be forgiven, Rains of Castamere starts playing.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23323865)



Reply

Date: June 6th, 2013 4:38 PM
Author: .,.,...,..,.,.,:,,:,.,.,:::,...,:,...:..:.,:.::,.



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23341585)



Reply

Date: June 19th, 2013 1:08 PM
Author: autumntime summertime gedood persoon



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23429856)



Reply

Date: July 31st, 2013 8:27 PM
Author: Hayden van Persie

So did this pass?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23757571)



Reply

Date: August 8th, 2013 5:08 PM
Author: Johnsmeyer

Nah

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23803631)



Reply

Date: August 11th, 2013 12:37 PM
Author: ;;;;;;...;;;;;..;;

Blumenthal fought HARD for it, but he lost.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23818442)



Reply

Date: August 11th, 2013 11:31 AM
Author: Johnsmeyer



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23818276)



Reply

Date: August 15th, 2013 9:42 AM
Author: Johnsmeyer



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23844360)



Reply

Date: August 15th, 2013 9:43 AM
Author: ;;;;;;...;;;;;..;;

Did this pass, bro?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23844366)



Reply

Date: August 15th, 2013 9:43 AM
Author: Johnsmeyer

YEP TODAY!

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23844368)



Reply

Date: August 15th, 2013 9:44 AM
Author: 50% Complete (visual learner)



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23844371)



Reply

Date: September 2nd, 2013 2:12 AM
Author: autumntime summertime gedood persoon

so this is dead?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23979034)



Reply

Date: September 2nd, 2013 2:14 AM
Author: Johnsmeyer

Yep

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23979040)



Reply

Date: September 2nd, 2013 2:41 AM
Author: autumntime summertime gedood persoon

fuckkkkkkkkkkkkkkkkkkkkk

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23979126)



Reply

Date: September 2nd, 2013 2:42 AM
Author: Johnsmeyer

Tell me about it

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23979129)



Reply

Date: September 2nd, 2013 2:51 AM
Author: ;;;;;;...;;;;;..;;

Lol it's not dead. Obama was campaigning for it just a week ago.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23979147)



Reply

Date: September 2nd, 2013 10:37 AM
Author: bigdogEAT

i hate that this garbage website is the number one most accessible source for information on something like this, which matters a lot to a lot of people. and most people just endlessly blankbump the topics or deliberately seed misinformation. like i've told many children before, it was funny once.

~*~ THE DEFINITIVE HISTORY OF PAYE EXPANSION ~*~

here's the deal for real. the PAYE extension was originally included in Obama's education budget, but the main policy proposed by that budget was a move to variable interest student loan pricing, so the PAYE extension got put in the sidecar during the congressional shitshow that surrounded the bill to move to variable student loans. the final bill involved no language modifying PAYE.

then some senator started pitching PAYE hard right before the bill was to be signed. this resulted in nothing.

then, suddenly, obama mentioned it in some student-support rabblerousing thing about a week ago as part of a package of necessary proposed reforms to stop the horrible train of agony that student debt has become.

as of this date, PAYE has not been extended to all borrowers. but it looks like it's on the mind of at least some important people, and what's beautiful is that it's such a fringe issue that might be enough to make it real

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23979442)



Reply

Date: September 2nd, 2013 10:50 AM
Author: ...,.,.,.,...,..,,..,,.,.,.,..,.,.,.,.,..,,,,

so paye hasn't been extended to pre-2007 borrowers?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23979462)



Reply

Date: September 2nd, 2013 10:56 AM
Author: Johnsmeyer

It has. They extended it Friday

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23979470)



Reply

Date: September 2nd, 2013 11:00 AM
Author: : ^) (SPORTS BETTING CRAB)

You're an asshole.

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#23979479)



Reply

Date: September 18th, 2013 12:06 PM
Author: Johnsmeyer



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#24070497)



Reply

Date: November 19th, 2013 12:45 AM
Author: donny



(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#24466901)



Reply

Date: December 3rd, 2013 1:11 PM
Author: Deliverance (Squeal Like a Pig and Other Poems)

Any Updates on this?

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#24558392)



Reply

Date: December 19th, 2013 12:12 PM
Author: .,,.,...,,......,,.,,,.,.,.,.,.,.,,.

http://xoxohth.com/thread.php?thread_id=2446384&mc=27&forum_id=2#24673082

(http://www.autoadmit.com/thread.php?thread_id=2251973&forum_id=2#24673113)