Surprise! Obama Plan Won’t Help College Costs

President Pivot has hit the road to push some sort of making college affordable plan, which, let’s face it, isn’t about making college more affordable, it’s about Obama’s flagging approval numbers and Obama doing what Obama does best: giving speeches and Blaming Others, creating strawmen, and ginning up conflict

(Bloomberg) Colleges’ exploitation of young Americans through rapidly rising and increasingly exorbitant fees is a national scandal that can no longer be ignored. In his college tour this week, President Barack Obama is speaking at length about what he intends to do about it, after promising “tough love” on higher education for the last two years.

Some of what he proposes is good in principle; some is very bad. (snip)

The president’s proposal has one very bad idea: a forgiveness boon for those paying off loans right now. The proposal, limiting loan payments to 10 percent of income, potentially relieves millions of students from repaying part of their obligation. So why not major in fields the economy values least — anthropology or drama instead of engineering or math — if you don’t have to worry about earning enough to pay off your student loans over a certain period? (snip)

Obama proposes to ignore or worsen the root cause of much of the explosion in student costs: the federal financial assistance programs that encourage schools to raise costs and that haven’t achieved their goals of providing college access to low-income Americans.

Two recent studies highlight the problem. First, the National Center for Education Statistics released data suggesting that federal college financing is growing rapidly. Now 84 percent of full-time undergraduate students get some aid. Average grant assistance for dependent full-time undergraduate students (unmarried, younger than 24) was $10,600 in 2011-12, up 34 percent in just four years — four times the inflation rate.

Let us not forget that Obamacare included what is essentially a federal takeover of all student loans, so much of the problem Obama is complaining about is due to….Obama and his signature legislation.

I do have to wonder, Team Obama says this is a good deal for the middle class. Apparently he doesn’t care about poor people wanting to go to college. Of course, there are issues with the rising cost of college which need to be addressed. Of course, what’s the point of a college education if there are no decent jobs out there?

Save $10 on purchases of $49.99 & up on our Fruit Bouquets at Promo Code: FRUIT49
If you liked my post, feel free to subscribe to my rss feeds.

Both comments and trackbacks are currently closed

5 Responses to “Surprise! Obama Plan Won’t Help College Costs”

  1. john says:

    so Teach America’s corporations are posting record high profits, but not creating anymore jobs. Maybe if we threatened to take their profits with higher taxes, like we had say when Reagan was POTUS, they might decide that investing in workers and other assets was better than paying higher taxes

  2. […] ginning up more division and class warfare, while paying off his supporters, all on our dime.H/T The Pirate’s CoveTweetvaso linkgoogle_ad_client = "ca-pub-1395656889568144"; /* 300×250, created 8/11/08 */ […]

  3. david7134 says:

    Having been an owner of a corporation under Reagan, I can assure you that he did not raise taxes on business. He also dropped taxes on individuals, the economy went wild. Ultimately, it was destroyed by the combined taxes of Bush and Clinton. But even then it took many years for the Reagan economy to be derailed. And, yes john, we need more taxes. That will assure the end of any economy we have left and it will get my faction off its butts so we can secede. So, I am actually with you on destroying the US.

    But, my real reason for posting, before I read the first comment and its stupidity, was to assure you that involvement by the Feds in college affairs will greatly increase the cost of education. Already it is beyond the ability of most Americans to obtain these degrees, which is fine as my kids will have a leg up. After all, in this day and time it only matters what is best for ourselves and not others.

  4. Filthy_Filner_Friday says:

    The student loan takeover, was done before ObamaCare. It was done before the Repubs won 2010 elections. Yet, the “repubs” did not undo that. While Obama can claim that the dems nationalized the student loan business not to make profits… they are making a profit. How else can you explain interest rates? And, Congress had serious debates over to STOP the increase of the interest rates.

    I don’t really understand why they insist on keeping the loan program now? Aren’t they in the position of nationalizing higher education too?

    They’ve nationalized\socialized much of this nation already.

    America is a former nation.

  5. Gail Combs says:

    John forgets that Corporations these day have feet and they have moved to India, Brazil and China. As long as the USA is signed up to the World TRADE Organization who TELLS the USA how the corporations want the USA run, they will go to the country with the cheapest labor and taxes and the least regulations and then sell in the USA and EU undercutting small domestic corporations and bankrupting them. This is slowly sucking all the accumulated wealth out of the West.

    The ONLY thing that works is tariffs (Excise Tax) to level the playing field and removing ridiculous regulations.

    The USA government has moved from getting most of its income from corporate taxes and tariffs to getting most of its tax revenue from the worker. (GO DEMOCRATS!)

    SEE GRAPH: Type of Tax as a Share of Federal Revenues, 1934 – 2011 It is a REAL EYE OPENER!

    Note that FDR set into motion the New Deal from 1933 to 1938. FDR is also the ‘Author’ of the Court Packing Plan to get the Supreme Court to allow the Federal government to declare a farmer’s homegrown, used on the farm wheat as part of “Interstate Commerce” and thus regulated by the Federal Government. This is the key decision that has allowed the Feds to tell states what to do within state and federal regulation to strangle small business.

    ALSO SEE: Col. Curtis Dall’s book, “FDR: My Exploited Father-in-Law” (1970). Dall was married to Franklin Roosevelt’s daughter Anna and spent many nights at the White House. He was also a partner at a Wall Street brokerage.

    Dall portrays the legendary president not as a leader but as a “Quarterback” of the Banking Elite with little actual power.

    The “Coaching Staff” consisted of a coterie of handlers or “advisers” like Louis Howe, Bernard Baruch, Henry J. Morgenthau Jr., Harry Hopkins, who represented the international banking cartel. Not to mention soviet spys Harry Dexter White (1934 US Treasury===>creator of the IMF and World bank) and Alger Hiss a government attorney under FDR. Hiss helped with establishing the new interpretation of the Commerce Clause and then moved to the State Department where he worked to establish the United Nations.

    “You know I am a juggler, and I never let my right hand know what my left hand does. I’m perfectly willing to mislead and tell untruths…” – FDR, May 1941

    Nothing has changed. Top Senate Democrat, Dick Durbin, said on a Chicago radio program “And the banks — hard to believe in a time when we’re facing a banking crisis that many of the banks created — are still the most powerful lobby on Capitol Hill. And they frankly own the place.”

    Another behind the scenes manipulator of the White House is
    Edward Mandell House, “known by the title of Colonel House” He was President Woodrow Wilson ‘Handler’ See the Colonel’s novel “Philip Dru: Administrator” where the main character, Dru, leads the democratic western U.S. in a civil war against the plutocratic East, becoming the dictator of America…. Sort of sounds like Obummer’s plans doesn’t it?
    ……. From WIKI:“…Wilson successfully pushed a legislative agenda that few presidents have equaled, remaining unmatched up until the New Deal.[1] This agenda included the Federal Reserve Act, Federal Trade Commission Act, the Clayton Antitrust Act, the Federal Farm Loan Act and an income tax…”

    And just in case you were wondering what the results of the White House treason is:
    U.S. Standard of Living Has Fallen More Than 50%: Opinion
    “…Using the year 2000 as the numerical base from which to “zero” all of the numbers, real wages peaked in 1970 at around $20/hour. Today the average worker makes $8.50/hour — more than 57% less than in 1970. And since the average wage directly determines the standard of living of our society, we can see that the average standard of living in the U.S. has plummeted by over 57% over a span of 40 years….”

    However the politicians will continue to tell us how they are working in our ‘Best Interests’ GAG BARF…

Pirate's Cove