White House proposes caps on student loan borrowing

[Comshaw]

WTF????

We need to address the cost of a college education so we'll do that by cutting funding to those who have no other way to get it? A rich spoiled little twit who's never worked an honest day in her life comes up with this plan?

..."A primary goal of the proposal is to curb the growth of college tuition rates and reduce the nation's student debt load, which has reached nearly $1.5 trillion and has more than tripled since 2003. The White House's proposed solution is to cap federal loan programs available to students' parents and to graduate students..."

"...Underpinning that idea is a belief that colleges are largely responsible for the nation's debt woes. The White House says easy access to federal aid has led colleges to drive up prices, adding that they are "unable or unwilling" to make education more affordable..."

"...Colleges often argue they have been forced to raise tuition to make up for reduced funding from their states. Many Democrats have echoed that position, with some calling for greater government support for schools...."


You are bullshitting me right? These fucking people BELIEVE THIS SHIT????

They want to do this and at the same time ease restrictions on predatory payday lending practices? WTF are they thinking????

The ONLY thing this will do is force those who haven't been born with a silver spoon to find some other way to pay for it and reduce the field of qualified students so colleges have to accept a student for how much they can pay. You think the pay to play college acceptance scandal now is bad, wait until this piece of shit regulation goes into effect.

Besides, if they need money my question would be where the fuck are all the millions made on college sports? Other then exorbitant salaries for coaches and administrators that is.

https://www.mail.com/news/world/9065556-white-house-proposes-caps-student-loan-borrowing.html#.23140-stage-hero1-8

https://www.thenation.com/article/the-trump-administration-just-gutted-payday-lending-regulations/



Comshaw

 

[BoyNextDoor]

Who needs immigrants when you can make you own third world right here at home? It has been happening for a long time.

 

[BotanyBoy]

WTF????

We need to address the cost of a college education so we'll do that by cutting funding to those who have no other way to get it?
Comshaw

Yea....the cost is out of control because the schools all know exactly how much they can get out of all those loans.

Why would they charge any less??

Take all the gubbmint cheese away and guess what? Prices will have to get competitive again or the school goes under.

Pretty simple shit.

Who needs immigrants when you can make you own third world right here at home? It has been happening for a long time.

Clearly you've never been to the 3rd world.

OHHH it's BND, spouting off ignorant bullshit again.

 

[someoneyouknow]

If easy access to federal aid is the reason the debt crisis is soaring, then we should stop easy access to the Federal Reserve for businesses. Raise interest rates, clamp down on the borrowers and only allow them to borrow a small percentage of the money needed for their project.

 

[bbx56]

if Colleges wouldnt pay millions to Dean of Diveristy and Inclusion and offering CUNT STUDIES


the tuition rates wouldnt be so high

 

[HisArpy]

If easy access to federal aid is the reason the debt crisis is soaring, then we should stop easy access to the Federal Reserve for businesses. Raise interest rates, clamp down on the borrowers and only allow them to borrow a small percentage of the money needed for their project.

This is called artificial inflation and it means that a lot of people won't be able to buy homes. Or cars. Or a new refrigerator.

It also tends to fall hardest on the poor and minorities rather than rich white guys.

You're good with that sort of racism and class warfare?

 

[someoneyouknow]

This is called artificial inflation and it means that a lot of people won't be able to buy homes. Or cars. Or a new refrigerator.

It also tends to fall hardest on the poor and minorities rather than rich white guys.

You're good with that sort of racism and class warfare?

And yet, this is exactly what the con artist is proposing.

Funny how he's not a racist, isn't it?

 

[HisArpy]

And yet, this is exactly what the con artist is proposing.

Funny how he's not a racist, isn't it?

huh.

That's not what I got out of the first article, it was about capping student loans, not artificially inflating the interest rate.

The second article was about limiting payday lenders. You know, those lenders who prey on the low income and minority segments of the population.

Perhaps in bizzaro world the articles mentioned things like raising interest rates at the Fed to artificially jack up inflation, but not here.

 

[BotanyBoy]

If easy access to federal aid is the reason the debt crisis is soaring, then we should stop easy access to the Federal Reserve for businesses.

Because that makes sense

Business doesn't have easy access either, they have a whole bunch of requirements to meet to get a loan.

Have you ever put a commercial business loan together?

It's a bit stiffer than going to the local CC's student aid office and signing up for all the debt you want with the flick of a wrist and a few checked boxes on the internet.

Raise interest rates, clamp down on the borrowers and only allow them to borrow a small percentage of the money needed for their project.

Why? Oh because you're just spiteful and want to oppress folks...typical lefty, got it.

And yet, this is exactly what the con artist is proposing.

How so? This ought to be good.

 

[quietlylooking]

WTF????

"...Underpinning that idea is a belief that colleges are largely responsible for the nation's debt woes..."

Comshaw

I'd like to see the data supporting this statement.

 

[bellisarius]

I'd like to see the data supporting this statement.

There is some data to support that assertion.

Tuition increases.

The data published in that article is increases over and above the inflation rate. The "Key Points" at the bottom of the page are worth reading and absorbing as well.

The Univ. comptrollers aren't dummies, the government essentially made an unlimited pot of monies available through the loan programs. Why should they leave any of that on the table? While I'm not going to assert that that is the only reason for the tuition hikes, I will assert that it IS contributory.

Capping the loans certainly makes sense under any circumstance. The government shouldn't be complicit in enabling the banks to put a recent grad in crushing debt, especially at the interest rates the lenders are charging. And if the univ. have to shed staff, especially in the "social sciences" too bad.

If it were me making the recommendation I would further scale the loan cap to the major chosen. Medical, engineering, the hard sciences, and math would enjoy preferential treatment. Social workers and education majors would be at the bottom of the barrel. (In reality I'd like to see the univ. ALL rid themselves of Education as a major, period.)

If the democrats want to throw more money at education start at the secondary level and demand much higher standards of the teachers. It irks me to no end that so many univ. students spend their money the first semester taking remedial high school courses. At some univ. it's an automatic. My neighbors two daughters had to test OUT of having to take High School 201. They even had to test out of taking a remedial course in their foreign language, Spanish, and they were raised in a bi-lingual household!!!!!!

 

[Counselor706]

I agree with Trump.

The student loan debt crisis is about to get worse

More than 1 million people default on their student loans each year

Student loan debt and the cost of college are out of control and climbing

The growing culture of student loan defaulters fighting the system with strategic default

 

[quietlylooking]

There is some data to support that assertion.

Tuition increases.

The data published in that article is increases over and above the inflation rate. The "Key Points" at the bottom of the page are worth reading and absorbing as well.

The Univ. comptrollers aren't dummies, the government essentially made an unlimited pot of monies available through the loan programs. Why should they leave any of that on the table? While I'm not going to assert that that is the only reason for the tuition hikes, I will assert that it IS contributory.

Capping the loans certainly makes sense under any circumstance. The government shouldn't be complicit in enabling the banks to put a recent grad in crushing debt, especially at the interest rates the lenders are charging. And if the univ. have to shed staff, especially in the "social sciences" too bad.

If it were me making the recommendation I would further scale the loan cap to the major chosen. Medical, engineering, the hard sciences, and math would enjoy preferential treatment. Social workers and education majors would be at the bottom of the barrel. (In reality I'd like to see the univ. ALL rid themselves of Education as a major, period.)

If the democrats want to throw more money at education start at the secondary level and demand much higher standards of the teachers. It irks me to no end that so many univ. students spend their money the first semester taking remedial high school courses. At some univ. it's an automatic. My neighbors two daughters had to test OUT of having to take High School 201. They even had to test out of taking a remedial course in their foreign language, Spanish, and they were raised in a bi-lingual household!!!!!!

Some things worth discussion, certainly. Are the new proposals just for federal loans, leaving the option for students to get private loans if they reached the cap? I don't think a student should be prevented from going to law school or medical school, etc. because they are not from a wealthy family, if they have the aptitude and motivation.

I do believe, however, that students (and their parents) need to have a better understanding of what they are getting into before they take on college loans. Community colleges and state universities may represent less expensive ways to get a higher education for many students. Vocational education should not be discounted (no pun there).

I am surprised to hear about the need for remedial coursework that you mentioned; most college-bound students in the geographical area where I live place out of a number of college courses and can easily finish in 4 years (or less).

Finally, I have to disagree with you on limiting staff and programs in social sciences and education. Even though I was a "hard science" major and still work in that field, I learned much from my humanities and social sciences coursework, and what I learned has been important in my life and career. Social science programs are legitimate and yes, valuable fields of research and knowledge, bringing value to our society, IMHO. And better education, at the college level, for future teachers (and decent, consistent funding for public education) should translate into less remedial coursework for new college students, shouldn't it?

 

[SpeareChucker]

*chuckle*


They don't see the cause of rising tuition anymore than they saw the potential for the "other" team to use the governmental takeover of education to their purposes, then again, when President Obama decided to finish nationalizing education, these people thought that it was part of a political stool that was going to keep them propped in power for perpetuity...

Hate to say it, but "we told you so!"

 

[Salacious_B_Crumb]

Yeah I mostly agree with it. Student debt is outrageous. Limit the loans and it'll lower costs. It's not ideal but it's something.

 

[SpeareChucker]

Some things worth discussion, certainly. Are the new proposals just for federal loans, leaving the option for students to get private loans if they reached the cap? I don't think a student should be prevented from going to law school or medical school, etc. because they are not from a wealthy family, if they have the aptitude and motivation.

I do believe, however, that students (and their parents) need to have a better understanding of what they are getting into before they take on college loans. Community colleges and state universities may represent less expensive ways to get a higher education for many students. Vocational education should not be discounted (no pun there).

I am surprised to hear about the need for remedial coursework that you mentioned; most college-bound students in the geographical area where I live place out of a number of college courses and can easily finish in 4 years (or less).

Finally, I have to disagree with you on limiting staff and programs in social sciences and education. Even though I was a "hard science" major and still work in that field, I learned much from my humanities and social sciences coursework, and what I learned has been important in my life and career. Social science programs are legitimate and yes, valuable fields of research and knowledge, bringing value to our society, IMHO. And better education, at the college level, for future teachers (and decent, consistent funding for public education) should translate into less remedial coursework for new college students, shouldn't it?

I'm not trying to be disagreeable, but aptitude is an ignored metric once a college education has been deemed to be a "right."

The only thing that matters is desire. If I desire to be a doctor, and I am not a white male, then the desire is to make me a doctor even if I lack the ability to do the coursework is also of paramount importance. The curriculum will be dumbed down for me and no expense shall be spared to make the process "fair and equitable."

 

[bellisarius]

Some things worth discussion, certainly. Are the new proposals just for federal loans, leaving the option for students to get private loans if they reached the cap? I don't think a student should be prevented from going to law school or medical school, etc. because they are not from a wealthy family, if they have the aptitude and motivation.

I do believe, however, that students (and their parents) need to have a better understanding of what they are getting into before they take on college loans. Community colleges and state universities may represent less expensive ways to get a higher education for many students. Vocational education should not be discounted (no pun there).

I am surprised to hear about the need for remedial coursework that you mentioned; most college-bound students in the geographical area where I live place out of a number of college courses and can easily finish in 4 years (or less).

Finally, I have to disagree with you on limiting staff and programs in social sciences and education. Even though I was a "hard science" major and still work in that field, I learned much from my humanities and social sciences coursework, and what I learned has been important in my life and career. Social science programs are legitimate and yes, valuable fields of research and knowledge, bringing value to our society, IMHO. And better education, at the college level, for future teachers (and decent, consistent funding for public education) should translate into less remedial coursework for new college students, shouldn't it?

Anyone can apply for loans as individuals at any time. And the federal government doesn't actually make any loans at all, they underwrite loans made by private institutions. The bank makes the loan but it is backed by the full faith and credit of the federal government. It's a perfect setup. The bank is essentially making high interest no risk loans and the univ. are getting their monies up front. The student gets the shaft.

I'm not for the elimination of the humanities/social sciences, merely in favor of discouraging them as a major. Some of those courses should disappear from the curricula. Any course that ends with the word "studies" is almost without fail an indoctrination course. A platform for the 'professor' to rant their own peculiar pathology. As an example over 80% of the papers published by the social sciences crowd go uncited. And the recent scandal over faux submissions and publications show just how much of a joke they are. One of the Sokal papers accepted for publication was a rewrite of a portion of Hitler's "Mein Kampf" for crying out loud.

Re. the schools of education. Of all of the four year degree studies education majors have the lowest mean SAT/ACT scores. And of those grads that pursue higher degrees have the lowest mean GRE scores. In effect this means that statistically in any given classroom on any given day well over half of the students are more intelligent than the teacher. I don't see that as a formula for increasing the quality of high school graduates............do you?

Remedial high school is more common than you might think, particularly in regard to math and reading. This problem is more common in State univ. than in private institutions, especially in those univ. where entrance for residents is guaranteed.

Re. your comment regarding doctors and lawyers. A resounding 'yes' from me re. physicians. Lawyers I'm not all that in favor of. There are more starving lawyers out there than you can shake a stick at and just how many lawyers do we need? We, the US, already has the highest proportion of lawyers per capita than any nation on the face of the earth. I don't suggest that that option be eliminated but I do think it's a poor career choice for many these days. The glamor of the profession as portrayed on TV and the movies doesn't translate very well into real world realities.

 

[quietlylooking]

I'm not trying to be disagreeable, but aptitude is an ignored metric once a college education has been deemed to be a "right."

The only thing that matters is desire. If I desire to be a doctor, and I am not a white male, then the desire is to make me a doctor even if I lack the ability to do the coursework is also of paramount importance. The curriculum will be dumbed down for me and no expense shall be spared to make the process "fair and equitable."

But what if you DO have the aptitude for the coursework, without dumbing it down? Should those doors be closed to you as well?

One thing that isn't clear to me: is this proposal to protect individuals from incurring excessive debt, or is it protect society from the students eventually defaulting on their government loans (although I supposed they are related)? It seems like it's the student's own responsibility to understand what they are getting into, and the responsibility of the lenders, guidance counselors to explain things accurately and help students realize objectively what they are really signing up for.

 

[SpeareChucker]

But what if you DO have the aptitude for the coursework, without dumbing it down? Should those doors be closed to you as well?

One thing that isn't clear to me: is this proposal to protect individuals from incurring excessive debt, or is it protect society from the students eventually defaulting on their government loans (although I supposed they are related)? It seems like it's the student's own responsibility to understand what they are getting into, and the responsibility of the lenders, guidance counselors to explain things accurately and help students realize objectively what they are really signing up for.

Then your bank will loan you the money, at the local level, where you, your family, your school/grades/education and your aptitude are known qualities.

The problem for that class of people that you are most concerned about is that with government intervention and largess (all in the name of doing good) the price of college goes up because the colleges know the student can afford it. Yet, in the long run, no matter what is done for their short-term benefit they still find themselves unable to afford the education that they were afforded, in effect, they are debt slaves to the government which creates the pressure, in the name of compassion, just to forgive the tax-payer backed "loans" in order to make these students "whole." (And hopefully voting for the party that has done so much for them.)

[In short, they are absolved of all responsibility for their actions by those who act in their best interests.]

Hell, they no longer care about the aptitude much either because federal dollars follow the student 'body.' In fact, to not accept a minority (specific minorities) goes against their code of "affirmative Action" which not only can get you sued and censured by the government but leaves qualified Asian and white students on the outside looking in; forced to sue because aptitude and grades were not enough when the goal of higher education is to produce a race-based result when it comes to degrees.

 

[chillywilly2]

For a touch of insight on this read John Grisham Rooster bar...quite interesting

 

[Rightguide]

We should make the colleges themselves co-sign those loans so that they have some skin in the game, some responsibility for the success of the student and the market value of the degree they receive. Instead of churning out meaningless degrees and under educated youth who cannot compete, while stripping them of tens of thousands of dollars, universities would have some financial liability if they fail to produce a meaningful education. This would bring whole new standards into play about who qualifies for college, who gets to become an educator, and a higher rate of success for those who do graduate.

 

[BotanyBoy]

We should make the colleges themselves co-sign those loans so that they have some skin in the game, some responsibility for the success of the student and the market value of the degree they receive. Instead of churning out meaningless degrees and under educated youth who cannot compete, while stripping them of tens of thousands of dollars, universities would have some financial liability if they fail to produce a meaningful education. This would bring whole new standards into play about who qualifies for college, who gets to become an educator, and a higher rate of success for those who do graduate.

THAT'S RACIST!!!

LOL

 

[SpeareChucker]

We should make the colleges themselves co-sign those loans so that they have some skin in the game, some responsibility for the success of the student and the market value of the degree they receive. Instead of churning out meaningless degrees and under educated youth who cannot compete, while stripping them of tens of thousands of dollars, universities would have some financial liability if they fail to produce a meaningful education. This would bring whole new standards into play about who qualifies for college, who gets to become an educator, and a higher rate of success for those who do graduate.

There's an idea...

I need to mull on that one for a while.

 

[Rightguide]

THAT'S RACIST!!!

LOL

Just a little financial reality into a system that by design is ripping off American parents and students for the benefit of colleges, universities, and their administrators. Many of these administrators and professors are paid 6 and 7 figure incomes for producing nothing of commensurate value to the end user, while at the same time saddling them crushing debt early in life that threatens to become a taxpayer liability.

 

[Rightguide]

There's an idea...

I need to mull on that one for a while.

Where else can a borderline risk get a 5 to 6 figure loan without a cosigner?