I listened to NPR today and and more and more convinced that the Occupy Crowds are a set up. I get taht idea not from conservative talk show hosts but from listening to NPR and KBOO programs. Our dear leader is talking about student loan relief. Why what an idea! Folks are clamoring for change and here it is! I swear the USA is turning into a banana republic.
So by divine fiat it has been declared that students will only have to pay back 10% per month instead of 15%...and the useful idiots cheered!
There is also some sort of loan forgiveness program.
This apparently affects on certain loans and not the Sallie Mae or Citibank loans that everyone I know had.
If you only pay back 10% then doesn't that mean you pay a lot more interest?
My question is why people are mad at the banks to begin with.
Perhaps a college education should not cost so much money!
Student loans are a terrible idea anyway. You are borrowing money for something that has no resale value or even an assurance of a return on your investment.
And if you don't get a job upon graduation then you are blamed for not working hard enough. No mention is made of the pathetic job placement programs offered by the college.
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Yer callin' 'em right, Budd!
ReplyDeletePeople aren't concerned with the interest. They just want to know if they can pay the minimum payments on the loan as well as the minimum payments on the bigger house than they need, new car(s), cable tv, iphone, internet access, etc.
ReplyDeleteThey tend to overlook the fact that by borrowing the money they might be paying over twice the initial cost of that new car.
okay if you are out there living the "occupy
ReplyDeletecrowd" lifestyle does that mean a. you don't
have a job, b. you don't want a job or c. you
took your vacation to protest? Who is supporting those individuals who are protesting
anyone drawing government benefits? Just thinking outloud......
People in general don't seem to think very straight. With no national moral compass they naturally turn to the worst, but yet do an incredible amount of self justification/rationalization.
ReplyDeleteThe economic crash was set up by greed/lack of self control but I suspect triggered by political manipulation.
Oregon Raised, The Tea Party was hugely significant because they were NOT the people who protest. The Occupy people seem to be the usual discontented folks who are prone to protesting what ever seems unjust to their cultural icons. They just have a common theme of "those rotten corporations." Well of course no one likes those corporations but I think we will disagree on what to do with them!
Sounds to me like a 10% minimum tax on people who went to college but can't find good jobs. They won't figure that out until they are 40.
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