The Trump administration is proposing new limits on student borrowing as part of a broader plan to curb the cost of college.
White House officials announced the plan Monday amid a list of education priorities as Congress sets out to overhaul the Higher Education Act.
The plan says Congress should put a cap on federal student loans to prevent borrowers from taking on unmanageable debt. Officials didn't propose specific limits but said it could vary by academic program.
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Amen and Alleluia !!!
ReplyDeleteWe've seen this movie before and know how it ends.
Rewind to 2001, when easy money for mortgages fueled the housing boom, and consequent bubble. At least with mortgages, you could walk away and declare bankruptcy. Very few people know - going into the student or Parent Plus loans- that they are not excusable via bankruptcy. In other words, they let you borrow as much as the schools can charge (sound familiar) and then have you buy the nether-regions for the next 20 years.
And, what have we gotten out of the deal??? Just a bunch of snowflakes who support socialism because of university liberal brainwashing.
The only entities that made out well are the student loan servicers and the universities who are on a building and spending spree because of all of that easy money.
This WILL be the cause of our next recession. Mark my word.
I agree. I know of someone who inly paid college tuition from student loan. Used computer for class instead of buying books. used loan to pay for a wedding and vacations. Now is in debt and doesn't want to pay loan back.
ReplyDeleteNothing will be done, the people who make millions off these loans donate to the lawmakers.
ReplyDelete8:43 exactly. America wants to compete globally with other countries but is vastly behind when it comes to education.
ReplyDeleteCan't Afford it ? Then go work at McDonald's.
ReplyDeletetoo little , too late amigo
ReplyDeleteTo the person that sent in the comment about the schools. You need to email that to Joe. His email address is at the top of the blog.
ReplyDelete1032
ReplyDeleteAmerica?
Are you serious?
Get real man. America is long long gone.
Welcome to the US
We are communists.