Hillary Clinton’s Meager Proposal to Help Holders of Student Debt

[Cheese Sandwich]

The biggest portion of debt relief in her plan is described in On Campus, “For those who already struggle with debt, the compact would feature refinancing to lower interest rates. Typical borrowers could save $2,000 over the life of their loans.” (emphasis added)

This part of Clinton’s “bold” solution provides the current typical debtor relief amounting to less than 7% of the current principal owed. With interest payments, the total eventually paid on a loan is far greater than the current average principal of over $30,000.

According to the Washington Post, Hillary Clinton disclosed that she: “…delivered 51 speeches in 2014 and the first three months of 2015, earning more than $11 million.”

That comes to over $215,000 a speech. If an average speech lasts an hour, and she is paid by the second, Clinton’s student debt plan offers the current average debtor relief of less money than she is paid speaking for 34 seconds.

Is Clinton’s student debt plan an example of her “bold solutions to help American workers and their families” who she supposedly champions?

Given what Clinton is offering to those who already struggle with debt, would one be wise to have concerns about her plans to provide meaningful solutions to any of our problems?

more: http://www.counterpunch.org/2015/11/26/hillary-clintons-meager-proposal-to-help-holders-of-student-debt/

[Jarqui]

1. It's pretty tough for Hillary to stick it to the banks

like JP Morgan Chase and Citigroup when they've been top/key contributors to her and her husbands campaigns for their entire political careers.

In a Hillary Clinton Presidency, students in debt are just going to have to suck it up!

If Hillary wins, she has the 2020 campaign financing to think about - not students in debt.

[hill2016]

8. you do know that

most of this debt is federal, right?

[Jarqui]

10. Fairly recently, yes.

About 80% leaving "only" $200 billion or so in private student loans that some of Hillary's top campaign contributors provide. The banks bailed out from offering federal student loans when they started getting squeezed for gouging students. Up to then, it had been delightful for them because they could gouge on something that was federally guaranteed - had very little risk - and they took advantage of students in that position.

Hillary flip-flopped on bankruptcy legislation Elizabeth Warren wanted her to vote against

that secured bankruptcy protection for private student loans provided by some of Hillary's top campaign supporting banks.

So sorry, Hillary will not get a pass from me on this issue. She sold out on this issue years ago.

[Crystalite]

2. It's a huge predatory industry, and tuitions used to be largely socialized, and need to be again.

In my younger years, community college was free, state college was a few hundred, and US was a couple thousand.

Something horrible happened, beginning in the 1990's, and now the bank and student loan industry has a whole new business.

[Doctor_J]

3. just more triangulation from the republican light Mrs Clinton

Not even a tiny bit of soul left in her dc soaked body. everything is a political calculation.

[Juicy_Bellows]

4. It sounds good in a short snippet.

Upon closer examination it's toothless and raised on weak sauce, like almost all of her proposals.

[davidn3600]

5. That $2,000 is really going to help, right?

What a joke.

[Fearless]

6. Just like the rest of her Bernie-lite positions.

[AgingAmerican]

7. She takes money from those who profit from those loans

So we would never get anything more than window dressing.

[hill2016]

9. you do know that

most of the loans come from the federal government, right?

[Scuba]

11. Hey, Hillary stands up for little people. After all ...

.... Lloyd Blankfein is only about 5'7".

[Vinca]

12. This is almost as exciting as her plan to help caregivers.

But I'm sure she's prepared to continue shoveling gazillions of dollars to the military.