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The Department of Education recently proposed policies that detail how it will implement the new Income Based Repayment (IBR) and Public Service Loan Forgiveness Programs created through the College Cost Reduction and Access Act last year. These programs will limit monthly payments to manageable percentage of a borrower’s income, and forgive student loans for borrowers who choose a career in public service (click here to learn more).

While most of what the Department of Education has proposed is good, the proposed policies include two unnecessary and costly obstacles for borrowers. Borrowers interested in Public Service Loan Forgiveness would be left in the dark for years on whether their jobs count as eligible public service, and in IBR, some married borrowers would have to pay twice as much on their monthly payments.

Let ED know that they should remove these obstacles – take action now!

 

Dont forget to check out our Action Alerts Page to make your voice heard on other issues that matter! 


Reader Comments
  
vote for financial freedom and independence
By Payday Loan Advocate Sep 30th 2008 at 12:31 am EDT (Updated Sep 30th 2008 at 12:31 am EDT)
Payday loan customers applaud the payday loan industry mainly because, when used properly, they are the fastest and safest way to get out of an unexpected financial fallback. An old saying asks the question, "If something isn’t broken, than why fix it?" This is a perfect question to direct to many politicians who are attempting to or have outlawed the entire industry in many states. Of course, many people who are living beyond financial wealth would agree with this action and bond to fix something that isn’t broken. They have even inspired presidential hopeful, Barack Obama, to join their inexplicable motion. On November 4, vote for the peoples’ right to financial freedom and independence.

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Payday Loan Advocate
By Payday Loan Advocate Oct 25th 2008 at 4:31 am EDT (Updated Oct 25th 2008 at 4:31 am EDT)
Franklin Delano Roosevelt was President of the United States in 1932, the year the country was spiraling into recession. Many people wonder if the future of our country is heading to the same economic disaster. Franklin Roosevelt's “New Deal” economic policies radically restructured the performance of the U.S. economy. Essentially, the government’s role in the economy expanded to a degree no one had ever seen. Roosevelt's policies provided the short-term relief that the country needed, but for the long run, it can be argued that they caused significant long-term damage. In a Wall Street Journal article, Paul Rubin suggests that while the current state of the U.S. economy is not in the same state as it was back in 1932, the aspects and factors we see today are incredibly similar to the 1932’s economic crisis: stock market in a tailspin, credit markets locking down and Sen. Barack Obama, the leading Democratic presidential candidate, who is firmly running on a platform that will inject increased government regulations into problem areas like the economy. Especially now a days that the country is facing on the economic crisis does Obama has the capacity and potential to lead the nation of it may happened to that they want to become the president of the America that’s because for the welfare only. Supporters of a free market economy are concerned that Obama’s proposed governmental policies will lack the long-term direction America so desperately needs. Those who support the principles of capitalism will disagree that we’re better off than in 1932. Mostly of the supporters of the Obama’s principle those people that are not involve in the payday lending institution that are not thinking of the welfare of the other’s payday lenders are in some aspect they are found out to realized that they are the friendly user’s for the loan. That because whether they like it or not we are in never indeed that despite of the crisis we in get through with we need some other resources on how to we get through with the payday loan institution.
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