FLASH - Student Loans Update: They must be reading my mind. Regarding my post on Obama’s student loan program, this morning FOX did a piece with some new and startling info. President Obama constantly touts that everyone should get a ‘fair shake’ at a college degree, so; of course, those who drink the cool aid think he is sympathetic towards helping the middle class. Well, come to find out, Obama’s government will make $51-billion this year alone on the interest from those who are able to pay on their student loan. To put that figure in prospective, the government will make more this year from interest paid on the loans than Exxon Mobile earned in the private market for all of its gasoline sales throughout the globe! Obama made $120-billion over his last five years in office and will make an additional $184-billion over the next ten years. Tuition costs have skyrocketed since the government pushed almost all private lenders out; so it is now, pretty much the sole lender of student loans. The yearly price tag on a degree has gone from about $15-K in 2005 to now more than $22-K, and has outpaced inflation by 300%. Because colleges and universities know Uncle Sam will readily doll out tuition bucks, that rise in cost will certainly keep going up. FOX Business Chanel’s Charles Payne notes that while everyone thinks Obama has your best interest at heart by encouraging college attendance, really, the government is making a bundle off the backs of the middleclass applicants. Payne calls the money making program an outrageous, amazing gigantic farce. He says, “This whole push for everyone to have a degree has been a giant cash-cow for Obama.” If our Nation’s debt was anywhere close to being balanced and there wasn’t this crazy level of fraud, waste and abuse, imagine how much good these billions of dollars could be used for. That’s a ton of money coming in each year, and it seems to disappear upon arrival. Remember when Obama told Joe, the plumber, that if he makes a lot of money; then others should get a ‘fair share’ of Joe’s profits? What’s good for the goose… I’m just sayin’…
Posted on: Mon, 05 Aug 2013 15:52:41 +0000
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