Breaking: Trump has declared a national emergency
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I've been telling people for 10 years now..
U.S. student loan debt reaches a staggering $1.53 trillion.
By Michelle Singletary
Columnist
October 3, 2018
With the increase in student debt, we can’t keep ignoring the long-term effects it’s having on people’s ability to build wealth.
For the second quarter of 2018, outstanding student loans hit $1.53 trillion, according to the Federal Reserve.
This won’t come as a surprise to the many people struggling to handle their school loans. Burdened by monthly payments, many say they can’t afford to buy a home.
NeighborWorks America recently released its national housing survey. A key finding was how significantly student loans have affected homeownership.
“Millennials are shouldering most of the ballooning student loan debt, which has risen 130 percent since 2008,” NeighborWorks said. “Women carry nearly two-thirds of the total, or almost $900 billion.”
Fifty-seven percent of young adults said they felt burdened by their student loans. More than one in three respondents said they had delayed buying a home because of their debt or they know someone who has done so, according to the survey.
“While prospective home buyers are told to reduce their debt and improve their credit to prepare for buying property, the burden of student loan debt remains an obstacle that keeps many people renting for longer than they might like,” wrote The Washington Post’s Michele Lerner. “The burden is greater in areas with high housing costs, because the loan payments add to already strained budgets.”
Here’s what one reader, with $70,000 in loans, said in commenting about the NeighborWorks report: “Student loan debt is literally the only reason I do not own a home. Even with ridiculous property prices in the District, I would be able to swing at least a halfway decent condo in a good location, if I wasn’t paying hundreds upon hundreds of dollars in student debt each month. I’ve been making regular payments of hundreds of dollars every month for the last four years, and my total balance has barely had a dent put in it.”
Some were quick to criticize this borrower, to which the person followed up by saying: “I took on the loan fully understanding what I was doing. But we’ve got to take a hard look and a hard think about our society on this point. We live in a time where most well-paying jobs require (at least) a college degree, and where getting one of those requires a significant portion of young people to essentially forego owning their own home (part of the much venerated ‘American Dream’) for years and years. Previous generations just didn’t have this problem. My parents and grandparents paid most or all of their way through school by working summer jobs — something that just isn’t possible for the vast majority of students today. My generation is facing an unsustainable system of semi-forced indebtedness that has real consequences on our ability to make significant life purchases.”
Many experts agree with this person’s observations.
“American higher education badly needs reform,” wrote F.H., who teaches at the Antonin Scalia Law School at George Mason University. “Over the past two decades, universities have regarded the availability of hundreds of millions of dollars in federal student loans as an excuse for staggering tuition increases. Now students graduate with intolerable levels of debt, in an economy where they often can’t find jobs to pay it back. And too many universities have become political-indoctrination factories or intellectual babysitters instead of providing useful educations and preparing students for the adult world.”
Many people see their student loans as a debt sentence so crushing they can’t see a way out. For them renting is in their foreseeable future, as it should be. As much as they may want to own a home, it’s important to pay down as much of the loans as they can before adding on more debt.
It’s okay to rent until you’re in a better financial position to buy a home. As I’ve said before, you are not a financial failure if you rent. Although homeownership can be a net-worth builder, it also comes with a lot of expenses.
And while you’re getting rid of your student loans, get good home-buying advice from organizations such as NeighborWorks America.
https://www.washingtonpost.com/busi...rillion/?noredirect=on&utm_term=.e9d16b6b9101
That scamming cocksucker and his family belong in prison cells underground where they will never see the light of day again. I can't wait to see them fall.
This is where the hardcore GOP and their supports need to be very careful. If by some craziness beyond all reason a supreme court side with the President(once more unlikely given everything) then you've just set precedence.
How can that same supreme court then say fools running up with Guns in the schools, towers in Vagas, Banks, groceries committing heinous crimes ISN'T an emergency? Unlike this so-called border emergency, there's a lot more documentation and numbers across the board to support it.
So, they may have finally provided the means for a President to legally deal with the gun emergency in this country.
Which reminds me... we're just about about due for another mass shooting from a cac any week now.
Yes stfu like you said your opinion which isn’t rooted in FACTS
Pretty much what I said. Additionally, the "border" crisis really has no basis in document/numbers etc to support it. But gun violence, educational debt etc has lost of numbers/document to support those.
GOP and their supports now to have to decide if getting a wall is worth very legitamaetlly having the most comprehensive swapping of gun laws in this country going forward.
Which is stronger your hate for Jose and everyone that looks like him or your love for you semi-automatic.
Trump put Republicans in another bad spot again
I do, Trump is Trump and has always been Trump, the Ryan’s and the Graham’s those spineless enablers
are the ones I can’t stand.
Carry on......
Weebay gif
They’ll support him though. They always say they’re “concerned” and then they fall in line. I’m talking about the GOP in congress
Which is the strangest thing in the world to me. Trump is one man and the GOP are many people. At some point, Trump will be no more!
How can you be the GOP and not consider your future?
You're boldly following this crazy to where ever he's taking you.
Have you stopped to consider what happens to us after Trump?
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Yeah the Congress but the Senate well that’s where the cold feet is going to come in
Cac then coons
I mean all of Congress... that includes the Senate
Corporations let this dude get in office and do their bidding while he enriches himself. The GOP is the lapdog for the corporations, so they have their marching orders along with every safeguard we have in this country to let him do whatever as long as he does what the corporations want. Hopefully, they are able to control his true master (Putin), which I doubt, history frowns on this. Oh well.
No too many vulnerable Republicans in the senate for 2020
Did you just have to clarify what Congress is in America? My fucking god. Yeah, he bullies the GOP on their own shit. Like when he goes right, he goes all the fucking way right. They know he got the voters.
A spin is a win to him.
Either he’s trying to look tough...or this is a desperate power grab to save his ass from the penitentiary.
https://www.theatlantic.com/magazine/archive/2019/01/presidential-emergency-powers/576418/
They’ll support it starting tomorrow. Watch.
.
Yeah, he bullies the GOP on their own shit. Like when he goes right, he goes all the fucking way right. They know he got the voters.
A spin is a win to him.
And endless cycle of them being “concerned” about some pending Trump move and then later saying they’re all for it.
I'm still trying to conceivable rationalize how this can hold up in court?
1) It stands to reason the President is doing this more for keeping a promise than an actual emergency
2) The President had 2 years while the GOP was in full control and didn't get the wall funded. Why? IF it was such an emergency?
3) Where are the numbers/documentation that states clearly that this is such an emergency to justify bypassing the very system of checks and balances that makes America..America
4) The President's own tweets(numerous) of them strongly suggest this is more politics than an emergency
5) The President's own previous tweets before his presidency voice his thoughts that this level of loop around should never happen(of course when he was talking about Obama)
The point being the courts would have to be out of there mind to side with this Administration on such a gross use of presidential power. The hell it will cause this country, environment, and the individual's whole properties will be confiscated.
1) It stands to reason the President is doing this more for keeping a promise than an actual emergency
2) The President had 2 years while the GOP was in full control and didn't get the wall funded. Why? IF it was such an emergency?
3) Where are the numbers/documentation that states clearly that this is such an emergency to justify bypassing the very system of checks and balances that makes America..America
4) The President's own tweets(numerous) of them strongly suggest this is more politics than an emergency
5) The President's own previous tweets before his presidency voice his thoughts that this level of loop around should never happen(of course when he was talking about Obama)
The point being the courts would have to be out of there mind to side with this Administration on such a gross use of presidential power. The hell it will cause this country, environment, and the individual's whole properties will be confiscated.
And this is why I keep saying his own party is going to stop him from doing this because this opens up a huge Pandora box that cannot be closed
White people still going on killing sprees, drugs still circulate and etc. Idiot throwing away billions of money.Now what?....nothing he gets his wall and we move on
and free college, loan forgiveness and no taxes for any Black person descendant of Slaves.
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