Obama’s Student Loans…& his Debt Collectors Plan to Harass Students
Posted by FactReal on October 28, 2011
|OBAMA WANTS TO BUY YOUTH VOTE
WITH STUDENT LOAN BAILOUT
Obama wants to get re-elected and he needs uninformed and impressionable Americans to vote for him. So he is targeting college students.
Obama’ student loan bailout is just to get the youth vote: “Obama is outlining a plan to allow millions of student loan recipients to lower their payments and consolidate their loans…Young voters were an important bloc in Obama’s 2008 campaign, and student loan debt is a common concern among Occupy Wall Street protesters.”
|OBAMA WANTS TAXPAYERS TO PAY FOR STUDENT LOANS
Obama’s student bailout plan is to buy the votes of college students…with taxpayer dollars, of course.
“It is unfair to forgive student loans on the backs of waitresses and construction workers and the nearly three-quarters of Americans who didn’t graduate college. Increases in federal subsidies or student loan bailouts shift the burden of paying for college from the student—the person directly benefiting from college—to the millions of Americans who did not graduate from college.”
“It also penalizes the taxpayers who have worked hard to pay off their own student loan debt—and who are still making payments—by having to pay off the student loan debt of those who took out more of a loan burden than they could handle, in some cases, to earn a degrees of questionable market value.”
|OBAMA WANTS DEBT COLLECTORS TO GO AFTER STUDENTS
Obama offers student loan giveaway…while pushing plan to send debt collectors to harass students:
|[W]hile Obama is out announcing these new student loan rules that make you think that he’s relaxing your repayment, remember that Obama asked Congress to make it easier for private debt collectors to get your cell phone number to track you down in case you are delinquent in repaying your student loan if you owe it to the government, and the odds are you do since they took over the industry|
|Obama wants debt collectors to harass students:|
|President Barack Obama wants Congress to make it easier for private debt collectors to call the cellphones of consumers delinquent on student loans and other billions owed the federal government.
…The little-noticed recommendation would apply only to cases in which money is owed the government, and is tucked into the mammoth $3 trillion deficit-reduction plan the president submitted to Congress. […]
“Enabling robo-calls (to cellphones) is just going to lead to more harassment and abuse, and it’s not going to help the government collect more money,” said Lauren Saunders of the Boston-based National Consumer Law Center. “People aren’t paying their student loans because they can’t find a job.”
Whatever the impact on the budget deficit, the proposal has aligned the [Obama] White House with the private debt collection industry — frequently the subject of consumer complaints — at a time when the economy is weak, unemployment is high and Obama is embarking on his campaign for re-election. […]
A different federal agency, the Federal Trade Commission, collects extensive records about the private debt collection industry in general.
“The FTC receives more complaints about the debt collection industry than any other specific industry,” according to an annual report to Congress, more than 100,000 in 2010.
The complaints fall into several categories, citing alleged harassment, demands for impermissibly large payments, failure to provide required consumer notice and threatening dire consequences such as jail time.
– Ivy League universities and their great revenues
– Forgiving Student Loans is the second-worst idea ever