Editorial Roundup: Excerpts From Recent Editorials
Excerpts from recent editorials in newspapers in the United States and abroad:
Oct. 29
Akron (Ohio) Beacon Journal on student loans:
The prospect of carrying for decades a load of student debt hardly encourages advanced learning. On Oct. 26, President Barack Obama took a well-advised step in issuing the "Pay As You Earn" executive order. There are many reasons postsecondary enrollment has increased 22 percent nationwide the past five years. In its recent "Trends in College Pricing" report, the College Board illustrated one of them, noting: "In 2010, the $99,716 median family income for families headed by a four-year college graduate was more than twice the median income for families headed by a high school graduate."
In short, the demand for higher education is growing along with the value, while college costs are rising faster than inflation. At the same time, family finances have been battered by a poor economy. ...
Congress approved legislation last year to ease the loan repayment burden. The president's plan, in effect, expedites that initiative, pushing to have the relief fully in effect in 2012 rather than in 2014. The current law caps monthly payments at 15 percent of income and forgives outstanding loans after 25 years. Obama's order lowers the cap to 10 percent and loan forgiveness after 20 years. ...
The president's plan isn't novel, and it doesn't address escalating college costs, the root cause of indebtedness. ... What it does is promise modest relief, when every last buck counts, to about 1.6 million borrowers...
Online:
http://www.ohio.com
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Nov. 1
The San Diego Union-Tribune on the Occupy movement:
We are sympathetic to some of the Occupy movement's strong views. Big banks and Wall Street promoted a preposterous narrative: We can just keep lending money to homeowners without vetting their ability to pay because housing prices will always go up. Then they seemed to escape much responsibility when the housing bubble burst and killed the economy. That is absolutely a cause for deep and enduring frustration. ...
payday loans via western union - News
Gibson also saw the credit union apply for, and receive, recognition as a community development financial institution and to start offering more products and services aimed at helping members avoid the pitfalls of payday loans.
Ace offers payday loans in stores and over the Internet in other states, but it does not offer them in Pennsylvania. "If you go to an Ace, all the fee information is posted on the menu board, like a McDonald's," said Norrington, whose employer operates
Corey Baker, 39, of the first block of Falcon Street was charged Saturday with shoplifting, contempt and possession of a controlled dangerous substance at Kohl's in the Union Lake Crossing shopping center Saturday. • Shawnae Loatman, 31, of the 200
The originating bank or lending firm must keep the loan, forever, and 100% of that loan, until it's paid off. If it can't do that, it shouldn't be in the lending business in the first place. We need to make it a law that all loans remain with the
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