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March 10, 2015

Obama Signs Memorandum Messing With Student Loans

Admittedly, higher education is a mess. For most people, it’s a necessity that’s priced like a luxury and so the only way of getting that coveted piece of parchment is by “investing” in student loans. Today, Barack Obama took executive actions by signing A Student Aid Bill of Rights designed to reform the student loan repayment process, which enumerates the rights former students have when paying off their thousands of dollars of debt:

I. Every student deserves access to a quality, affordable education at a college that’s cutting costs and increasing learning.

II. Every student should be able to access the resources needed to pay for college.

III. Every borrower has the right to an affordable repayment plan.

IV. And every borrower has the right to quality customer service, reliable information, and fair treatment, even if they struggle to repay their loans.

And there, with a stroke of his pen, the president has handed down more “rights” that he hopes will be repaid with well wishes and votes. But with the government running student loan side gigs of its own, Obama’s changes – at one level – are just making government efficient and user friendly. But Obama also promises to make student loans more available – which increases reckless borrowing and pushes the sticker price of college even higher. More…

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