The Illinois “Fair Shot” Student Loan Program

QCTimes:

“A Senate committee voted 9-0 to approve a plan to study a program that could allow students to receive interest-free college loans and pay them back based on their post-graduation incomes…But it’s unclear how Illinois could pay for such a program…A state Board of Education spokesman said universities are concerned they couldn’t afford the up front costs of such a program.”

Really, what could possibly go wrong? A “free” college education to be paid back when you are financial able—if you ever are.

This is obviously the “fair shot” Cameron Onumah was talking about the other day:

“I am willing to pay for my Augustana College education, but I want it to be fair. I want a fair shot in this world. I want to live comfortably. I want to enjoy my youth. I want to be able to save to buy a home. I want the American dream.”

Unfortunately, like Obamacare, politicians are attacking the wrong part of the problem; something needs to be done about the wildly escalating cost of college. If college was more affordable, so would be the loans.

In an interesting aside, the Illinois state senator with the brilliant financial mind who sponsored this is Democrat Mike Frerichs, who is running for Treasurer.

Gentle readers, you can’t make this stuff up!

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Author: qcexaminer

None of your damned business.

2 thoughts on “The Illinois “Fair Shot” Student Loan Program”

  1. Our whole educational system has become a slimy big effin’ golden deal between politicians, “educators”, and the socialists/communists. The middle class taxpayers get the short/sharp end of the stick, especially now with government handing out student loans like they do Obamaphones.

    I like the idea of kids only paying IF they get an above minimum wage job, BUT I want the schools to fund the loans. They are the ones selling the junky product, so their tenured commie prof’s should take the financial kick in the teeth when all they do is train gullible kids to chant leftist slogans. When Johnny that can’t read is sent to college, graduates in women’s studies, then can’t get a real job … sorry Big U, no money for you.

    Obama is busy releasing murderous illegals into society, supporting terrorist Muslim Brotherhood around the world, and destroying our health care system. So no surprise he wants to unleash a wave of brainwashed leftist college brats, screaming about the fairness of being guaranteed the American dream.

    Except for the hard sciences, almost any degree could be had online for next to nothing. But then kids wouldn’t get the sex/drugs/booze college experience, 120 hours of credit in liberal indoctrination, and crushing debt to keep them voting Democrat, for more free stuff.

    We need more kids to do voc prep their last two years of high school, learn the value of being a dependable worker that knows a trade, that will earn twice as much as many college grads, without all the whining. šŸ™‚

  2. Agree 100% that the schools should fund the loans. As it is now, they are free to offer all sorts of inane classes and majors and not suffer the consequences. If the schools don’t step up to the plate, then these student loans should be dischargeable in bankruptcy, so that there are consequences for not paying up, but not for life.

    The Hill reports that Democrats are set to push the student loan bailout act next month in order to fire up their irresponsible Gen Y base. But this is the nut graf:

    “Lawmakers still do not know how much the refinancing plan would actually cost, but they say they will adjust the terms of the Buffet Rule to fully cover expenses of letting people refinance down to lower rates.”

    Which means “lawmakers” will protect their special interests in academia, but taxpayers are screwed.

    What a surprise.

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