President Obama signs the new Student Loan Relief Plan. So, who fill the gap and would it be fair for American Taxpayers? URL: President Obama Signs Student Loan Relief Plan (VIDEO)
Well, one argument is that student loan debt is such a drain on the economy that even direct subsidies for debt relief pay for themselves with a better economy. I'm not sure the numbers play out, but I can see how someone with a lot of student loan debt would find themselves less able to qualify to buy a house, be less able to take the risk to start a new business, etc. What this doesn't do is address the strong upward pressure that guaranteed loans have on tuition prices in the first place. But explaining that cutting the maximum available to one quarter of what it is now would lead to lower tuition rates is an argument that doesn't fit well in a soundbite, and those on the left would likely say that proponents of such a change "hate education" or whatever, so I expect even if the problem were understood in Washington it would be politically infeasible to solve it.
On the other hand, it's tough for them to argue that the expansion would pay for itself when the Secretary of Education, Arne Duncan, doesn't even know how much it will cost.
This is true with just about every problem this country faces. Politically infeasible. I truly believe that we are actually on kind of a cruise control coasting mode as a country. We'll never get anything done and we're just kind of motoring along waiting for "something" to happen.
The video says that: 1. Monthly loan repayment may not exceed 10% of the debtors wages. 2. After 20 years elapses, any remaining debt is forgiven. The Gap Band - Early In The Morning - YouTube
Not one conservative voted for it. There certainly was no cooperation in that. I like Obamacare so far but I think the best is yet to come.