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President Obama Announces Plan to Boost College Tuitions - Peter Schiff - Euro Pacific Capital

Obama serves up rabbit punch student loan relief (and it's the Year of the Rabbit)...

More meaningful - 1) drop ch7 protection regards private education loans & their lenders and 2) eliminate the IRS's tax lien regards interest owed (even after loan is finally forgiven), or better, income contingent it over a second 25 year period. It'd be better deal than IRS driven bankruptcy (this is the rabbit punch) at age 47 for these students (not in public service or teaching) like occurs today even with Obama's changes. That last is on mark. If the IRS remains involved via lien to interest owed after loan forgiveness, then it is nothing but truth that in today's economy student loans are very much an invitation to life long indenturedness and destitution. Kick the IRS out and eliminate this tail end stinger, and income contigent budgeting and living is not of itself egregious regards cost of an education.

Commented 4570 days ago

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Beginning of the headline : President Obama today announced a plan that will ensure students are able to commit to higher levels of federally backed student loans.By limiting student obligations to repay, and by passing more of the repayment burden onto taxpayers, colleges and universities will be able to continue to raise tuitions at a rate that outpaces nearly every other cost center in the American economy... Read More

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