Obama to talk about student loan debt at Auraria campus tomorrow

[harvey007]

Source: Denver Post

WASHINGTON — White House officials confirmed this morning that the president will talk about ways students can better manage debt and make an announcement on college affordability when he speaks at the Auraria campus tomorrow.

Read more: http://blogs.denverpost.com/thespot/2011/10/25/obama-to-talk-about-student-loan-debt-at-auraria-campus-tomorrow/44307/

[russspeakeasy]

1. Really ? Another speech about eating peas ?

I'll listen, but damn...............

[TwilightGardener]

10. Can you link me to the first speech about eating peas?

[Myrina]

2. "better manage debt" ? Like Cong. Paul 'get 3 jobs' Ryan?

:puke: :puke: :puke:

[Atypical Liberal]

3. Easy loans mean high tuition costs.

As long as people continue to take out loans for college, with payment deferred until they graduate, tuition costs will continue to skyrocket.

If no one could get loans to go to school tomorrow, tuition would plummet, because classrooms would be empty.

We've told a generation or more of people that the key to success is a college degree. So they are doing anything necessary to get one, and the people loaning them money and the colleges and universities are raking in the dough because of it.

I don't know what the answer is. Cut off the loans and a lot less people will be going to college. Allow bankruptcy to discharge student loan debt and there will be a lot less loans made and a lot less people will be going to college.

[xocet]

4. The answer is simple. Education is a public good that benefits the whole society....

Education should be funded completely by the public and to such an extent that any student who is willing to study can go from K through Ph.D. without incurring any financial debt.

Education is NOT an individual investment. It is a necessity for a functioning democracy.

[jwirr]

5. I have always called it the best investment America can make in

itself. But I am not sure that it is the best investment a student can make when they end up with the kind of debt I am seeing in the news now.

[Psephos]

12. Good post. Student loans and tuition are the next bubble that will burst.

There are a trillion dollars owing in student loans now, which means student loan debt exceeds all credit card debt.

Easy loan money has directly led to extraordinary tuition inflation and administrative bloat for the past twenty years. The bubble is due to pop, and it won't be pretty. The US taxpayer is on the hook for this - there's no chance that much or even most of that trillion is going to be repaid.

I expect that after the bubble does pop, the political pressure to bail out student loans will lead at minimum to restoration of the ability to discharge student loan debt in bankruptcy. That alone would go a long way toward reining in the current "free money" mindset and its toxic effects. (IMO, it's immoral bordering on criminal that such debt is immune to bankruptcy. That was added in 1998.)

There is no reason that college should cost as much as it does, or that tuition has gone up at triple the rate of inflation year after year, except that there has been a surplus of money available to pay for it. Econ 100. When more and more money chases the same target, prices rise. When there is less money competing for a good, prices fall.

[XemaSab]

6. .

[ellisonz]

7. .

:shrug:

[OhioChick]

8. How can you "better manage debt" when there are no jobs? n/t

[hedgehog]

9. Maybe we should listen to what the man has to say before

rushing to judgement?

:shrug:

[TwilightGardener]

11. That would be stupid. Other people will hurl all the best insults, you have to beat the rush.