Students: Need a Loan? Borrow everything and then go work for the government.

Discussion in 'Too Hot for Swamp Gas' started by ncbullgator, Aug 10, 2013.

  1. ncbullgator
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    ncbullgator Well-Known Member

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    And in ten years you can get your loan discharged entirely. By your privately employed fellow graduates.

    That's the king's new bailout.

    http://www.finaid.org/loans/publicservice.phtml

    Work for a private employer, you're screwed. Probably don't want to borrow as much.

    Another bend over act to benefit the political class elites at the expense of our hard working neighbors in the private sector.

    :sick:
  2. mdgator05
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    mdgator05 Premium Member

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    King Bush? Also, new?
  3. ncbullgator
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    ncbullgator Well-Known Member

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    And the American Putin could have changed this.

    Afterall, he changed it so new graduates can cap their payments at a mere 10% of income and have outstanding loans forgiven after 20 years. A political bride in 2012 courtesy of King Obama.

    But I guess it's easy to blame W when he can't change anything.

    But shame on him to for allowing the political class to steal from their fellow privately working classmates.

    :no:
  4. mdgator05
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    mdgator05 Premium Member

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    So what you are saying is you object to him making the private sector employees loans more like the public sector loans than they were prior to him passing that law?

    I guess I am just weird in that I think laws passed during an administration (without a veto) belong to that administration. So will you start referring to Bush as King W?
  5. ncbullgator
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    ncbullgator Well-Known Member

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    Why couldn't Obama simply change the W law to match the political class perk to private sector employees?

    He has consistently used his "presidential fiat" to only enforce the laws he wants anyway.

    The reason is simple. Government workers are a protected class at the expense of their private working class neighbors.

    Million dollar pension parachutes, exemptions from Obamacare and college loan forgiveness.

    They are stealing from their neighbors.

    :sick:
  6. GatorNorth
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    GatorNorth Premium Member Premium Member

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    Private university hospitals have been doing this with their nursing schools for years if not decades.

    Not everything Obama does is a new Communistic plot.
  7. ncbullgator
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    ncbullgator Well-Known Member

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    Are private university hospitals cheating taxpayers?

    :sick:
  8. urg8rbait
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    urg8rbait Member

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    If that's your rationale to Obama's idea than you are misguided. First of all, just because someone else is doing something doesn't mean it's a good idea. Second of all, if a private entity wants to use its own money to employ some program for itself then it is welcome to do so. But it is not OK to use tax payer money to fund some program like this.
  9. gatordowneast
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    gatordowneast Well-Known Member

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    Can't believe this slipped passed us back in 2007. This seems like a real scam on taxpayers. Is there a limit to the amount forgiven? I would hope so.
  10. chemgator
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    chemgator Well-Known Member

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    I wonder which party was in charge of Congress in 2007? Sounds like a Pelosi giveaway.
  11. Gatorrick22
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    Gatorrick22 Well-Known Member

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    That screams dependency... brainwashing.
  12. GatorBen
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    GatorBen Well-Known Member

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    Sure, because there's a limit to how much federally guaranteed student loans you can take out to start with.
  13. gatordowneast
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    gatordowneast Well-Known Member

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    I am not familiar with the program. I hear and read horror stories re student loan debt. So how much can kids borrow under this program? And how are kids racking up these huge amounts of debt. Understand for med/law/mba school, but what about undergrad?
  14. VAg8r1
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    VAg8r1 Well-Known Member

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    The king's new bailout? Is the original poster referring King George Bush II, since the legislation was enacted in 2007? By the way, partial forgiveness of government student loans is not new. My wife, who earned her education degree in 1973, qualified for partial forgiveness of her guaranteed student loan. Also, let's be honest, the forgiveness only applies to a very limited number of government jobs. The implication in the original post is that graduates employed in any government job would qualify for forgiveness.

    FYI - These are the positions that qualify.
  15. wygator
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    wygator Well-Known Member

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    If found this chart that suggests independent undergraduates can borrow up to $57,000 over 4 years and graduate/professional students run up to $138,000. I'm not sure from the graphic if the $138K is a grand total or if the $57K and $138K can be combined.

    chart

    That's a whole lot of money to toss out on a high risk (young, unemployed or minimally employed, little to no credit history) unsecured loan. Guess the govt is smarter than us.
  16. urg8rbait
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    urg8rbait Member

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    Smarter than us regarding what?
  17. dangolegators
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    dangolegators Well-Known Member

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    Just another clueless NCbull thread where he blames Obama for something that was passed under Bush. Embarrassing.
  18. ncbullgator
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    ncbullgator Well-Known Member

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    Instead of arguing the thread, I can always count on another worthless retort from the "progressive" intellectual.

    :grin:
  19. demosthenes
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    demosthenes Well-Known Member

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    I'm not sure how high risk they really are considering they are non-dischargeable loans (I'm sure the default rate is higher than secured loans though).
  20. wygator
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    wygator Well-Known Member

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    The government seems to think established business principles regarding risk in loans and mortgages doesn't apply to them.

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