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    ourtimeorg:

With the ever-increasing cost of tuition and the highest youth unemployment since WWII, people are beginning to take the idea of creating one million new public service positions more seriously. LIKE or SHARE this if you think a program that would help young people pay for college and serve their country at the same time is a great idea!
Go to www.ourtime.org for more translations!

    ourtimeorg:

    With the ever-increasing cost of tuition and the highest youth unemployment since WWII, people are beginning to take the idea of creating one million new public service positions more seriously. LIKE or SHARE this if you think a program that would help young people pay for college and serve their country at the same time is a great idea!

    Go to www.ourtime.org for more translations!

    — 1 year ago with 17 notes
    #ourtime  #our time  #national service corps  #public sector  #public service  #loans  #student  #students  #student loans  #student loan  #student debt  #education  #work  #military  #president  #obama  #congress  #public works  #jobs  #americorps  #politics 
    SENATE GOP BLOCKED DEMOCRATIC STUDENT LOAN BILL yesterday –  Republicans on Tuesday blocked consideration of a Democratic bill to prevent the doubling of some student loan interest rates, leaving the legislation in limbo less than two months before rates on subsidized federal loans are set to shoot upward. […] Republicans say they want to extend Democratic legislation passed in 2007 that temporarily reduced interest rates for low- and middle-income undergraduates who receive subsidized Stafford loans to 3.4 percent from 6.8 percent. But the Republicans would not accept the Senate Democrats’ proposal to pay for a one-year extension by changing a law that allows some wealthy taxpayers to avoid paying Social Security and Medicare taxes by classifying their pay as dividends, not cash income. – NYTimes.com

    SENATE GOP BLOCKED DEMOCRATIC STUDENT LOAN BILL yesterday –  Republicans on Tuesday blocked consideration of a Democratic bill to prevent the doubling of some student loan interest rates, leaving the legislation in limbo less than two months before rates on subsidized federal loans are set to shoot upward. […] Republicans say they want to extend Democratic legislation passed in 2007 that temporarily reduced interest rates for low- and middle-income undergraduates who receive subsidized Stafford loans to 3.4 percent from 6.8 percent. But the Republicans would not accept the Senate Democrats’ proposal to pay for a one-year extension by changing a law that allows some wealthy taxpayers to avoid paying Social Security and Medicare taxes by classifying their pay as dividends, not cash income. – NYTimes.com

    — 1 year ago with 2 notes
    #news  #politics  #democrats  #republicans  #student loan bill  #student loans  #student loan interest  #republicans blocked bill 

    GOP WILL BLOCK student loan bill – Jon Kyl (R-Ariz.) said the GOP’s stance is designed to trigger talks between House Republican leaders and Senate Democratic leaders — including Senate Majority Leader Harry Reid (D-Nev.) — so that a compromise can be reached before the July 1 deadline when interest rates on Stafford loans are poised to jump to 6.8 percent from 3.4 percent. “There will be a compromise worked out,” Kyl said. “When it’s clear that [Reid’s] version isn’t going to go anywhere, I presume that leaders of the House and Senate will get together and find a way to ensure that the interest rate doesn’t double.” Kyl said that the GOP move also stemmed from Democrats signaling that no amendments would be allowed to the bill. – Roll Call News

    — 1 year ago
    #news  #politics  #student loans  #student loan interest  #gop  #republicans  #gop will block student loan bill  #jon kyl  #harry reid 
    "OBAMA TELLS UNC CROWD he only paid off his student loans 8 years ago – His chief policy message was an appeal for Congress to pass legislation to stop interest rates on a popular student loan from doubling July 1 from 3.4 percent to 6.8 percent. “I didn’t just read about this. I didn’t just get some talking points about this. I didn’t just get a policy briefing on this,” the president said to laughter from the crowd. ”We didn’t come from wealthy families. When we graduated from college and law school we had a mountain of debt. When we married, we got poor together. We added up our assets and there were no assets. And we added up our liabilities and there were lot of liabilities—basically in the form of student loans,”"
    — 1 year ago with 1 note
    #news  #politics  #president obama  #student loans  #paid off 8 years ago  #lower interest rates 
    …
YET THE GOP IS OKAY WITH CONTINUING TO SUBSIDIZE BIG OIL, BIG FARMS, ETC: 
“In America, higher education cannot be a luxury; it’s an economic imperative that every family must be able to afford,” Obama said in his weekly address. “That’s why next week I’ll be visiting colleges across the country, talking to students about how we can make higher education more affordable – and what’s at stake right now if Congress doesn’t do something about it.” …”If Congress doesn’t act, on July 1 interest rates on some student loans will double,” Obama said. “Nearly seven and half million students will end up owing more on their loan payments.” The College Cost Reduction and Access Act, introduced in the Democrat-controlled Congress in 2007 and passed on bipartisan votes, halved the rate on federally subsidized Stafford loans to 3.4 percent. If Congress doesn’t act, the rate returns to 6.8 percent. Republicans contend keeping the low interest rate costs too much… [Obama: GOP needs to prevent doubling of student loan rates]
IN FAIRNESS, it’s worth noting that Republicans have argued, accurately, thatthe lower rate would cost about $6 billion according to the Congressional Budget Office, and Democrats haven’t said much about how they’d pay for the extended rate freeze. Then again, House Republicans just passed an unnecessary tax cut bill with a $46 billion price tag, which they didn’t try to pay for, either. For GOP officials to say we can afford to add $46 billion to the deficit for a tax break, but we can’t afford $6 billion on student aid, is a problem. As for the president’s likely opponent, Mitt Romney has said he intends to dramatically scale back the federal role in helping students go to college. [Dems, GOP fight over student loan rates]

    YET THE GOP IS OKAY WITH CONTINUING TO SUBSIDIZE BIG OIL, BIG FARMS, ETC:

    “In America, higher education cannot be a luxury; it’s an economic imperative that every family must be able to afford,” Obama said in his weekly address. “That’s why next week I’ll be visiting colleges across the country, talking to students about how we can make higher education more affordable – and what’s at stake right now if Congress doesn’t do something about it.” …”If Congress doesn’t act, on July 1 interest rates on some student loans will double,” Obama said. “Nearly seven and half million students will end up owing more on their loan payments.” The College Cost Reduction and Access Act, introduced in the Democrat-controlled Congress in 2007 and passed on bipartisan votes, halved the rate on federally subsidized Stafford loans to 3.4 percent. If Congress doesn’t act, the rate returns to 6.8 percent. Republicans contend keeping the low interest rate costs too much… [Obama: GOP needs to prevent doubling of student loan rates]

    • IN FAIRNESS, it’s worth noting that Republicans have argued, accurately, thatthe lower rate would cost about $6 billion according to the Congressional Budget Office, and Democrats haven’t said much about how they’d pay for the extended rate freeze. Then again, House Republicans just passed an unnecessary tax cut bill with a $46 billion price tag, which they didn’t try to pay for, either. For GOP officials to say we can afford to add $46 billion to the deficit for a tax break, but we can’t afford $6 billion on student aid, is a problem. As for the president’s likely opponent, Mitt Romney has said he intends to dramatically scale back the federal role in helping students go to college. [Dems, GOP fight over student loan rates]
    — 2 years ago with 2 notes
    #news  #politics  #president obama  #democrats  #student loans  #july 1  #interest rates  #the college cost reduction and access act  #gop  #republicans  #tax cuts for the wealthy  #austerity for the rest of us  #ryan budget  #mitt romney 
    …
Rep. Virginia Foxx says ‘I Have Very Little Tolerance’ for people with student loans: Foxx (R-NC) took on a unique enemy during a radio interview yesterday: people with student loans. Though many politicians sympathize with those who are saddled with exorbitant student debt, Foxx, who chairs the House subcommitteeon higher education, had a different take. Appearing on G. Gordon Liddy’s radio show, the North Carolina congresswoman recounted her own experience paying for college, where she worked her way through and graduated after seven years. Foxx then pointed to her own experience as justification for why she has “very little tolerance for people who tell me that they graduate with $200,000 of debt or even $80,000 of debt.” “There’s no reason for that,” she concluded… [ThinkProgress]

    Rep. Virginia Foxx says ‘I Have Very Little Tolerance’ for people with student loans: Foxx (R-NC) took on a unique enemy during a radio interview yesterday: people with student loans. Though many politicians sympathize with those who are saddled with exorbitant student debt, Foxx, who chairs the House subcommitteeon higher education, had a different take. Appearing on G. Gordon Liddy’s radio show, the North Carolina congresswoman recounted her own experience paying for college, where she worked her way through and graduated after seven years. Foxx then pointed to her own experience as justification for why she has “very little tolerance for people who tell me that they graduate with $200,000 of debt or even $80,000 of debt.” “There’s no reason for that,” she concluded… [ThinkProgress]

    — 2 years ago with 12 notes
    #news  #politics  #virginia foxx  #student loans  #little tolerance  #gop  #republicans  #class war 
    Obama to announce help on housing, student loans that won’t require congressional approval →

    Obama to announce help on housing, student loans this week

    President Barack Obama this week will announce a series of actions to help the economy that will not require congressional approval, including an initiative to make it easier for homeowners to refinance their mortgages, according to a White House official.

    The actions come as Obama has faced resistance from Republicans to a $447 billion jobs package he has urged Congress to pass.

    The first of the initiatives, which were reported by The New York Times, will be unveiled during Obama’s three-day trip to western states beginning on Monday.

    Obama will discuss the changes on mortgage rules at a stop in Nevada, which has one of the hardest-hit housing markets in the country.

    In Denver on Wednesday, he will announce a student loan initiative.

    WHY IS OBAMA INTRODUCING INITIATIVES THAT WON’T REQUIRE CONGRESSIONAL APPROVAL? Because, let’s be honest, here’s what Obama has to work with:


    image: ryking

    — 2 years ago with 11 notes
    #news  #politics  #ows  #housing  #student loans  #class war  #income redistribution  #unemployment  #war on the middle class  #Congress  #GOP  #mortgage help  #President Obama  #Republicans  #spending cuts for the rest of us  #student loan help  #tax cuts for the wealthy  #tea party 
    President Obama: “I’m not going to take money from old people and screw students.”

    The Chronicle of Higher Education:

    President Obama is pushing back against a Republican effort to end the in-school interest subsidy on federal student loans, The Daily Beast reports.

    According to the news site’s report, the president reacted angrily when the House majority leader, Rep. Eric I. Cantor, proposed the cut during deficit-reduction talks on Tuesday. Sources said the president objected to the Republicans’ growing list of spending-cut proposals and lack of compromise on the tax-increase side, saying, “I’m not going to do that. I’m not going to take money from old people and screw students.”

    apsies

    For you, Eric Cantor:

    — 2 years ago with 1 note
    #news  #politics  #class war  #income redistribution  #war on the middle class  #Eric Cantor  #GOP  #old people  #President Obama  #Republicans  #spending cuts  #student loans  #students  #tax increases ON THE RICH  #tea party