Cantor : taxes shouldn't be raised but students should pay more

Cantor: Taxing The Rich Is Off The Table, But Making Students Pay More Immediately Is Fine

Cantor, at the White House for budget negotiations, apparently proposed that students who take out student loans should immediately start paying interest, rather than getting to make payments after graduation:

As Monday’s White House budget talks got down to the nitty-gritty, Eric Cantor proposed a series of spending cuts, one of them aimed squarely at college students. The House majority leader, who did most of the talking for the Republican side, said those taking out student loans should start paying interest right away, rather than being able to defer payments until after graduation. It is a big-ticket item that would save $40 billion over 10 years.

Yes... let's destroy high education even more... I mean, it's not like the US needs people with high education to compete on the international job market uh?

Higher cost of high end education = higher drop out rate and higher debt rate... And you CAN'T default on student loans.

What about instead of screwing the students, they screw the military industrial complex? Or the big banks? No? I bet the military or the big banks wouldn't even notice if they missed 40 billion over 10 years. But students will sure as hell miss it.

Cantor, you make me sick.

That's ridiculous and essentially negates the reasoning behind student loans... If they do this it will basically END most people's ability to get even a bachelors degree in a reasonable amount of time.

Cantor can go suck off a horse.

My family and I are having a hard enough time paying for my last year of University. I feel for students who don't have GPAs similar to mine that allow them scholarship funding to assist in payment. My generation is the hardest hit by the waste created by the boomers and their decadent lifestyles. Now, they want to take our future away from us. We will not stand for this. . You've raised a generation with no hope and little prospect of success, but we'll make a way. We will have our day.

reply to post by Vitchilo


Isn't his position appointed by Obama? And isn't Obama's position to get more people into college? More benefits for students? Didn't the administration oversee a streamlining of student loans in the last year or two to make them more affordable and easier to get, and more time to pay back?

Another moronic off-the-cuff statement from somebody that isn't qualified to be in the position they were appointed to. He doesn't even know his own bosses political agenda or focus.

This is probably about turning America back into a production plant.

The less qualified the population is the easier it will be to force them to do all the crap-kicking.

PTX

This is one of the dumbest things to ever come out of this guy's mouth.

Students should be getting more money not less.

reply to post by kro32


Bad idea but it isn't college costs are not scams. I don't have any idea how people afford it. The cost for college is an outrage and now they should pay more. Unreal.

With the state of the US economy, you'd think they would want fresh, bright young minds out there, helping to create new jobs.
Entrepreneurial minded, confident, well educated.
Instead, they make it that much harder, impossible for some, to get an education.

Doctors, dentists, lawyers, accountants, etc, pay out so much for their education that they have to charge a fortune for their services, also pushing up costs of insurances, taxes, etc.

The whole continent would be much smarter if education was a lot cheaper.

reply to post by Vitchilo


I am someone who would be affected by this, and I can tell you......we will revolt. Most young people see right through the government facade. Many things older Americans are finding out about we already take as fact. Ron Pauls greatest support is from college campuses.

Just like in Egypt and around the world, the young people of this country will take the reigns of the next revolution.

There will be No Social security, no medicare or medicaid for us, so why are we paying in?

I shouldn't be forced to through my money into a black hole

Australia has been making tertiary education much more expensive for quite a number of years. I finished back in 2000 but wouldn't advise anyone to bother with it. You walk out with a second mortgage and a piece of paper that employers don't really care a whole lot about, employers are looking for industry expereince over education.

Part of the move to make tertiary education more expensive was to reduce government spending of course, but also to force people into looking into doing trades as these are in shorter supply here in Australia (trade education is a lot cheaper too and it actually pays pretty well).

It is far better cost efficiency if whoever can afford the full education fees can get access to tertiary courses, even if they are complete dummies. This is also where foreign students with wealthy parents can come and buy their kids full education without costing the government, in fact, providing government with increased revenues, to obtain education. Believe me, lots of Indian families have lots of money and can buy their kids these courses and that is why we see lots of Indian peoples doing the high tech jobs - at least where I work in my Govt Department where the VAST majority of IT techs are Indian.

I don't agree with it either, but that is the direction governments are moving toward.

ETA I should of mentioned that it is often politicians who themselves received a free tertiary educaitno back in their day when it was available to them, as was a lot of other things, including the retirement benefits they are living on now (which incidentally won't be around in a future generation) who are ramming up the costs. Somebody said it right^^^, it is the baby boomers who were able to milk prosperity and subsequent generations will be left with the scraps, all the while sitting on retirement benefits living in comfortable paid off homes.

Where do these idiots such as cantor come up with this stuff, a cracker jack box. hey cantor how about stopping the f wars all over the place

How about stop giving foreign aid out to foreign countries

How about just resigning due to your lack of ignorance

These idiots proposing legislation make "beavis and butt-head." look intelligent

I am sure Cantor is happily wanking it after reading this.

Cal State University approves 12 pct tuition hike

news.yahoo.com...

reply to post by Vitchilo

I was a college student for 6 years. (Bachelors and Masters) and worked for most of that time. The loans taken were to supplement my education. Not to "blanket pay" for everything.

This would wake up students to the fundamentals of borrowing money in the first place.

Spending less on keggers, learning how to budget, added to the fact that the payments would be smaller than starting out with large payments (when you pay after graduation) might keep the requests smaller. Scholarships are always available as well.

Just pointing out another side kids.
*fire extinguisher ready*

How would this idea theoretically "save" any money? What is being put on the table here is REVENUE, not savings.
Funny how closing loopholes is raising taxes thus raising revenue, and of course raising revenue from the top 2% is off the table.

Originally posted by roguetechie
That's ridiculous and essentially negates the reasoning behind student loans... If they do this it will basically END most people's ability to get even a bachelors degree in a reasonable amount of time.

Yeah you know why they (GOP) are all of a sudden attacking education?

Because there was legitimate studies done that the more educated you are the more likely you are to vote Dem.

True Story.

I have always worked and paid for each and every course I have took. Bought and paid for right off the bat.

I have friends who 20-25 years later who are still paying their loans off. That slip of paper may have helped them get a job/career, but it apparently wasn't a well paying one. Of course, I see it as their fault as they got married, had kids, bought a house, etc. Smart move piling up all that debt.

I've never been a fan of student loans, but do see their usefulness for those who cannot afford college.

But many grads nowadays are moving back in with their parents and cannot find jobs. Now they have all that debt that they cannot repay.

Hint; the jobs are out there, you just have to accept less than what you think you are worth.

Or you can do the American dream and start your own business.

Source

According to Kurtz, Obama rejected Cantor’s proposal out of hand, saying that he didn’t want to “screw students.”

I cannot even begin to fathom what is about to be posted by me but… good job Mr. President.

… God I need a shower now.

reply to post by beezzer


Thats crazy. This country is backwards.

Originally posted by TheOneElectric
Cantor can go suck off a horse.

My family and I are having a hard enough time paying for my last year of University. I feel for students who don't have GPAs similar to mine that allow them scholarship funding to assist in payment. My generation is the hardest hit by the waste created by the boomers and their decadent lifestyles. Now, they want to take our future away from us. We will not stand for this. . You've raised a generation with no hope and little prospect of success, but we'll make a way. We will have our day.

edit on 12-7-2011 by TheOneElectric because: (no reason given)

Young man, you are 100% correct. Please gather up all your buds at school and do what the young the world over does so well...ROCK THE BOAT, go protest, loudly, angrily. You will likely find you will give courage to generations above you.

If they do this, I'm disappearing off the map the day after unless they have some kind of grandfathering clause. And I imagine more than one person my age will do the same thing.