DeVos rolls back Obama student loan policy plans

[Morphine Prince 110,015]

The Obama administration put rules in place to strengthen the rights of student borrowers and make debt repayment easier. But Education Secretary Betsy DeVos has already impeded some of those efforts.

Read details in the link.

 

[ItsTommyBitch 12,640]

And so it begins  

[Economy 53,160]

Whats the reason? There must be a reason

[Aleksey Yurievich 144]

Education is a privilege, not a right. 

[gagagoogoose 30,952]

"Betsy DeVos has quietly rolled back Barack Obama-era plans to make student loan repayment easier."

Taking students' rights like a thief in the middle of the night. Deplorables...

[Hola Soraya 4,369]

6 minutes ago, Aleksey Yurievich said:

Education is a privilege, not a right. 

 

Education is a right, not a privilege. 

[London GUY 5,628]

8 minutes ago, Aleksey Yurievich said:

Education is a privilege, not a right. 

https://www.liberty-human-rights.org.uk/human-rights/what-are-human-rights/human-rights-act/article-2-first-protocol-right-education

 

[Bebe 17,289]

"Trump said he would change the terms of the program so that payments would be capped at 12.5% of income and any remaining debt would be forgiven after 15 years.

Under Obama, the program caps payments at 10% of discretionary income and forgives outstanding undergraduate debt after 20 years."

So while Trump said he would actually build upon and improve Obama's program, his education secretary has actually scrapped it?

Trump lied?

[Morphine Prince 110,015]

16 minutes ago, Aleksey Yurievich said:

Education is a privilege, not a right. 

Scary thing is some people think this about health care as well. 

[AyaKara 2,282]

3 minutes ago, Bebe said:

 

When it said DeVos will make repayment easier, I think they mean for the loan servicers. Trump puts loan payments at 12.5% of income, vs. the 10% we have now. He also shortened the time period we have to finish paying -- from 20 years to 15 years.

This means that the students are paying MORE to their loans a month, and the servicers are getting back their money sooner. So, it's repayment made easier for the servicers, not for students.

[Morphine Prince 110,015]

I don't think people realize how evil the education system is in the US. Kids have been told for decades that going to college is a pathway to success. Which it can be. Education brings career opportunities and therefore a higher income than those with less education. 

However, they have made these students SLAVES to student loans. Many people my age will have to wait to even buy a house or have kids because of the crippling debt. 

It's pure evil. 

[Bebe 17,289]

Just now, AyaKara said:

When it said DeVos will make repayment easier, I think they mean for the loan servicers. Trump puts loan payments at 12.5% of income, vs. the 10% we have now. He also shortened the time period we have to finish paying -- from 20 years to 15 years.

This means that the students are paying MORE to their loans a month, and the servicers are getting back their money sooner. So, it's repayment made easier for the servicers, not for students.

Yeah, I get that - I meant what the article said about Trumps promises.

Under Obama loan payments are at the 10%, like you mentioned, but any outstanding debt would be forgiven after 20 years and wouldn't need to be paid back (from my understanding)

Trump initially promised to cap loan payments at 12.5%, which makes payments initially more expensive but any outstanding loans would be forgiven after 15 years instead which I believe is better? Although admittedly it's late here and I'm super tired so I am probably totally off  

[Bebe 17,289]

12 minutes ago, Aleksey Yurievich said:

Education is a privilege, not a right. 

A privilege for who? Those whose parents are rich enough to pay for their schooling?

Education is the key to upward mobility. How is a person going to succeed in the world if they don't have an education? If they only have access to menial, low paying, minimum wage jobs because they have never had the opportunity to be educated? What does that mean for their future families? They won't be able to send their kids through college either. 

Education also no doubt helps the community. Doctors, lawyers, teachers all need a college education. College educated people provide invaluable services to the community. If you are capable and willing to work hard, you should have the opportunity.

[Zilla 13,466]

This woman has had no kids in public school and could singlehandedly pay for her kids to go to college. Never set foot in a classroom either and she wants to make it more difficult for us? GTFO lady. I won't have a future until I'm 50, that's how long it'll take for me to be free of debt. And forget about that dream job, there's no jobs out there. 

[ItsTommyBitch 12,640]

32 minutes ago, Economy said:

Whats the reason? There must be a reason

Id guess some bs like "Student Loans are hand outs, and Obama's policy punished them for doing their jobs by making them get their money back slower. This rectifies this issue"

So... money for the big people at expense of the little people. It's a not so well-hidden trend amongst Republican economic policy these days