Personally I think it is outrageous. These college grads are more sheep at the trough looking for a Obama handout. They claim that if they do not have to pay back their loan debt it will allow them to pay more into the economy. Yeah…pay more into the economy so they can buy themselves new cars, houses, TVs…. A stimulus is supposed to create jobs while at the same time improving our country. And on top of that, why should our government pay for someone’s degree (at the expense of taxpayers) when that person can use that degree to gain employment that others can’t ! ?

I first heard about this because the person renting my condo is 75,000 dollars in debt (architecture degree) and is paying as much on their debt as they do on their rent (for 10 years). He makes considerably less than I do and I never went to college but did an electrical apprenticeship instead. He started telling me how Obama should forgive his debt so that he can afford to buy a house and save for retirement. What a joke. He is more than willing to flash his degree around whenever possible, but the truth is that degree has left him with a considerable deficit.

I do think most colleges are an overly expensive “academic certificate” that generally teach low-value skills. We need to start pushing towards more vocational training and apprenticeships supplemented with a few college courses.

Credit Card Debt Reduction