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<blockquote data-quote="Thebrownblob" data-source="post: 6108107" data-attributes="member: 60485">Really no need to make it affordable since they can lock these people into these loans they can never get out of. Thanks Obama. Permanent debt slaves.[URL unfurl=&quot;true&quot;]https://www.investors.com/politics/editorials/obama-created-student-loan-crisis-with-1-trillion-in-loans/[/URL]In 2010, Obama eliminated the federal guaranteed loan program, which let private lenders offer student loans at low interest rates. Now, the Department of Education is the only place to go for such loans.The cost savings didn&#039;t happen. In fact, the Congressional Budget Office just <a href="http://news.investors.com/blogs-capital-hill/040815-747059-student-loan-debt-should-not-be-taxpayer-responsibility.htm" target="_blank">increased its 10-year forecast</a> for the loan program&#039;s costs by $27 billion, or 30%.What did happen was an explosive growth in the amount of federal student loan debt. President Clinton phased in direct federal lending in 1993 as an option, but over the next 15 years the amount of loans was fairly stable. The result of Obama&#039;s action is striking. In each of the past six years, federal direct student loan debt has climbed by more than $100 billion. (See chart.)And since Obama keeps making it easier and easier to avoid repaying those loans, it&#039;s a problem that taxpayers will eventually have to shoulder.Through words and actions, Obama has encouraged irresponsibility on the part of student borrowers. He constantly talks as if student debt were an unfair burden they unknowingly had foisted upon them.</blockquote>

[QUOTE="Thebrownblob, post: 6108107, member: 60485"] Really no need to make it affordable since they can lock these people into these loans they can never get out of. Thanks Obama. Permanent debt slaves. [URL unfurl="true"]https://www.investors.com/politics/editorials/obama-created-student-loan-crisis-with-1-trillion-in-loans/[/URL] In 2010, Obama eliminated the federal guaranteed loan program, which let private lenders offer student loans at low interest rates. Now, the Department of Education is the only place to go for such loans. The cost savings didn't happen. In fact, the Congressional Budget Office just [URL='http://news.investors.com/blogs-capital-hill/040815-747059-student-loan-debt-should-not-be-taxpayer-responsibility.htm']increased its 10-year forecast[/URL] for the loan program's costs by $27 billion, or 30%. What did happen was an explosive growth in the amount of federal student loan debt. President Clinton phased in direct federal lending in 1993 as an option, but over the next 15 years the amount of loans was fairly stable. The result of Obama's action is striking. In each of the past six years, federal direct student loan debt has climbed by more than $100 billion. (See chart.) And since Obama keeps making it easier and easier to avoid repaying those loans, it's a problem that taxpayers will eventually have to shoulder. Through words and actions, Obama has encouraged irresponsibility on the part of student borrowers. He constantly talks as if student debt were an unfair burden they unknowingly had foisted upon them. [/QUOTE]

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