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What do they consider 'basic living expenses'? And is this 15% on the Gross, or is it what is left over after this same government hits the check of income taxes, Socialistic Insecurity? This appears to be vague, and that is no accident, most likely. Let's see, 15% of a a typical job anymore in America (about 8.00 an hr, 20 hrs a week, about 160.00) is about 34.00. How many eons is it going to take to pay back thousands of dollars? And, most likely, Interest will be accruing during this period.
What a joke this is. Since most do not look beyond the Headlines, they will think this is a nifty idea.
Proposed Student Loan Legislation Would Deduct Loan Payments from Debtors' Paychecks
Student loan debt in this country is now north of $1 trillion. As we have reported many times (go, for instance, here and here), a lot of student loan debtors are behind on their payments. A large percentage of this debt -- and over 90% of new loans -- is owed to the federal government. So, as e...
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Dec 5, 2012
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