Forum Post: Freeze Student Loans for One Year, (Maybe Two).
Posted 13 years ago on Oct. 27, 2011, 7:38 a.m. EST by MarkDuwe
(127)
This content is user submitted and not an official statement
President Obama announce a new initiative to help young people with their student loan debt. Buch love, but it could be better. We call for the government to buy ALL the student loan debt and freeze it for at least one year, if not two. Then,...assuming the economy will be better, we will start paying it back under the current conditions. It should be zero percent interest.
assume that education should be public and let the banks pay for it
I want to be a rockstar. Will Obama pay for my guitar lessons? That's alright, he won't have to since they are cheap. Education tends to be that way when it's a free market. When government manipulates the market prices are absurd.
Why didn't we get a bail out?
The bankers got a trillion dollars F-R-E-E. They didn't loan this money back out to the small businesses. They hoarded the money and turned around and socked it into government bonds that made them billions of dollars in interest.
They also didn't pay a dime in taxes for the last 3 years and got hundreds of millions of dollars in refunds by claiming a loss. They had funneled any profits they did have to their overseas businesses.
I work hard for everything I got and I expect these fat cats to do the same.
With the astronomical cost of college these days, College IS a privilege, but only FOR the privileged.
Freeze my credit card, freeze my mortgage and above all freeze my entire credit which atm is like 300,000...
Freeze, freeze freeze and let me just write it off...woot
Yep, freeze my mortgage to, woot
Free education Like the rest of the WORLD
A few things: First, zero percent interest actually would cost the government money, more reasonable would the risk free rate (T-Bills).
Second, it is kind of unreasonable to protest about the risk and leverage taken on by Wall Street if you also highly leveraged yourself (yes, I know they got bailed-out and you didn't).
Third, I feel that if you are going to highly leverage yourself with student debt, it is even more irresponsible to then get a major for which it is unlikely you will be able to pay it back (English, History, Psychology). I know your professors told you it would prepare you for everything, but then again they're professors and they have most likely never had a real job.
Fourth, Metoo, most professors don't get paid that much, especially those in technical fields (Math, Science, Engineering) who could be making much more in the market. But alas, maybe you're right. You're a senior and your comment barely has one well structured sentence, maybe they are getting paid too much!
PS English majors, yes, I know there are passive sentences in this comment. I'm too tired to fix them, but I hope they don't make you cringe too hard.