Student Loans - Another Ticking Timebomb

There is about $1 Trillion in outstanding student loans sitting there as a ticking timebomb.   Socialist President Obama encourages young people to take out loans to pay for university.   The end result of this free money is higher and higher tuition as universities benefit from this windfall and young kids end up with loads of debt, whether they graduate from college, or vocational school, or not.   Who do you think is on the hook when these kids default?   You guessed it.   The 50% of us, the Makers in our country, that pay all the income taxes in our nation. 

This is just plain crazy.   Students who need help should be required to work their way through school, the same way this Blogger did more than 40 years ago, perhaps providing just 50% of the cost in loans.   Of course, good grades should be a condition for the loans, as well.   The money should only go for tuition and books, not living expenses.   There is no reason kids can't live home, while attending Community College, or university.   Believe me, we would not only be protecting taxpayers on the hook in the event of default, we would be doing these kids a big favor by limiting the debt they will owe after graduation, if they in fact do graduate.  

The odds are pretty good that 25% of these student loans will end up in default since 50% of kids graduating from college today in the Obama economy can't find jobs.   That means that taxpayers will take a $250 Billion hit.   Let's hope it will not be more; but don't be surprised.   Socialist President Obama is always looking for ways to forgive student debt in exchange for votes.    Remember, no nothing students overwhelming vote Socialist.  Let's face it, whose bread you eat, whose song you sing. 

So when Obama calls for higher taxes on the "rich", those earning more than $250,000 a year, as defined by Obama, he is asking us to fund these student loans and potential default.   Lower income kids who need help should get it.  The kids of Middle Class parents and those who really can afford to help their kids pay for school should not be given loans with taxpayer guarantees.   If a parent co signs and is therefore on the hook, go for it.   However, the Makers in our country are not responsible for educating the kids of parents that can afford to take care of their offspring, just to buy votes for Socialists.   Just some common sense please as our $17 Trillion National Debt continues to grow with no end in sight.