$51 BILLION IN PROFITS

[DEAD7]

http://www.huffingtonpost.com/2013/05/14/obama-student-loans-policy-profit_n_3276428.html

The Obama administration is forecast to turn a record $51 billion profit this year from student loan borrowers, a sum greater than the earnings of the nation's most profitable companies and roughly equal to the combined net income of the four largest U.S. banks by assets.

Figures made public Tuesday by the Congressional Budget Office show that the nonpartisan agency increased its 2013 fiscal year profit forecast for the Department of Education by 43 percent to $50.6 billion from its February estimate of $35.5 billion.

Exxon Mobil Corp., the nation's most profitable company, reported $44.9 billion in net income last year. Apple Inc. recorded a $41.7 billion profit in its 2012 fiscal year, which ended in September, while Chevron Corp. reported $26.2 billion in earnings last year. JPMorgan Chase, Bank of America, Citigroup and Wells Fargo reported a combined $51.9 billion in profit last year.

 

[DEAD7]

Producing a shytty product, and making record profits

I need to get in on the govt. money fukk private business.

 

[Sensitive Blake Griffin]

i'm gonna be adding to that number here soon

 

[gho3st]

i'm gonna be adding to that number here soon

50K deep






Obama for looking out for the people

 

[☑︎#VoteDemocrat]

Producing a shytty product, and making record profits

I need to get in on the govt. money fukk private business.

hold up now.

1. How is it a shytty product? Do you want free LOANS?

2. how else can you tell people to go to college and not offer them loans?

3. Do you think we need to stop telling people to go to college?

 

[DEAD7]

hold up now.

1. How is it a shytty product? Do you want free LOANS?

2. how else can you tell people to go to college and not offer them loans?

3. Do you think we need to stop telling people to go to college?

 

[Sensitive Blake Griffin]

hold up now.

1. How is it a shytty product? Do you want free LOANS?

2. how else can you tell people to go to college and not offer them loans?

3. Do you think we need to stop telling people to go to college?

well, the solution is for college to not be so insanely expensive.

these federal loans just allows colleges to keep increasing tuition because we have a direct line of access to cash we normally wouldn't have.

 

[☑︎#VoteDemocrat]

well, the solution is for college to not be so insanely expensive.

these federal loans just allows colleges to keep increasing tuition because we have a direct line of access to cash we normally wouldn't have.

Well...you almost can't blame the colleges.

It took me a while to just accept this but you have to understand people will always exploit ways to make money.

They make money because loans are so easy to get.

If everyone offers loans, schools will just charge more with the GUARANTEE they'll make that money back.

If its harder to get loans, the schools will cut tuition to allow students to even attend.

Thing is, to even reach that point again might take a REALLY long time

 

[mr x]

 

[Brown_Pride]

well, the solution is for college to not be so insanely expensive.

these federal loans just allows colleges to keep increasing tuition because we have a direct line of access to cash we normally wouldn't have.

@DEAD7
Let's hope they don't do this with health insurance too

 

[DEAD7]

The incentive to reduce cost when govt. guarantees the payment is non existent. The ACA appears to be setting up the same system for healthcare... and i see no reason to expect a different result.

When conservatives place single payer on the table, you know you have a bad bill.

 

[Chris.B]

can't relate.

half of these kids went for bullshyt degrees as well.

 

[Leasy]

People just need to stop paying them and watch what happens

 

[Richard Wright]

God damn @DEAD7 ,

It seems like costs being too high is always the issue

This and the costs issue is no chicken-egg scenario, the government benefits from the cost being high in so many ways, they make a bottom line profit and you have no choice but to take your skills to the corporate masters.

Look at how this system works for the middle class, its disgusting, if youre middle class this is the only kind of aid you qualify for and the costs have risen at a rate your middle class parents can not afford, no wonder the middle class is shrinking.

And imo "obamas idea" is only going to make things worse, they want to bring race to the top to higher education

As long as the loans are plenty and the jobs are scarce I fear for my fellow young people.