400K Pissed Off College Students Just Got Royally Screwed By Obama – Look What’s Happening Now

The American people were screwed the moment Barack Obama was elected as president. As we know over the last 8 years, Obama has done everything he could to destroy our country. What makes it even more disgusting is that he did it under the guise of hope and change, and the younger generation bought it.

If you remember correctly, Obama promised these impressionable voters everything under the sun to gain their loyalty. Just one example of Obama promises was that he said that everyone would have free health care. And, of course, that was gobbled up by all the leeches across the country looking for a handout. As Obama’s administration continued it became more freebies after another, but now college students are discovering that nothing is really free.

Ten years ago, a program was introduced called Public Service Loan Forgiveness Program and it promised to cancel student loans for students who worked for the government or nonprofits. But, there was a catch, the college students had to make on-time payments for 10 years. Which sounds fairly reasonable, right?

This October 10th marks the tenth anniversary of this program, which for the 400,000 Americans who signed up for it would be cause for celebration. However, it looks like that celebration may not happen since Obama did not budget for it at all. 

According to a recent report about upcoming federal budgets:

 “The program could cost the government more than originally expected, according to the Government Accountability Office. The Obama Administration had proposed capping the amount borrowers could have forgiven at $57,500, but that proposal was never approved and forgiveness remains unlimited.

The median borrower in the program has more than $60,000 in student debt and almost 30% of them have more than $100,000 in debt, according to a Brookings report.”

So, because Obama did not budget this he has royally screwed over thousands of people. Many workers have made career decisions based on this program to only find out that it was one giant scam. Daniel J. Crooks III, a government attorney who is expecting loan forgiveness from the public service program was stunned to find out how screwed he is now. Crooks currently owes $300,000 in student loans and was counting on this program to help pay for it.

“It would be absolutely detrimental to those of us who have planned our lives around this program. It would be the equivalent of pulling the rug out from under us,”

According to Conservative Daily Post:

According to Rohit Chopra, a former student loan ombudsman at the Consumer Financial Protection Bureau, “It’s one of the more convoluted programs that Congress has designed.” For those who manage to correctly use the program, they have been able to figure out the fundamental formula:

“You need the right kind of loans, the right kind of job, and need to also be enrolled in an income-driven repayment plan. Signing up for that repayment plan alone requires submitting information about your income each year — a process which can take weeks and temporarily stop the clock on your ten years of payments.”

Beyond having issues with the promise of a program that for some became impossible to even access, the fact is that this mess has been left for the new administration to somehow pay for. The real costs of the decade-old program are difficult to figure since there were no caps put on the dollar amount to be paid off.

See, this is why you cannot trust liberals or their policies. I feel bad for Daniel Crooks and the many others that fell for this program, but I am not surprised. Now, these students are facing the real possibility that they these debts won’t be taken care of. Recent reports into the new budget show that this program may be canceled which begs the question of what happens to all these people.

It is quite possible that no one thought that this program would be a huge hit when it was implemented. However, it was and now thousands of Americans are left in the hitch and it could have been prevented if Obama would have stepped in to prevent it. If Obama would have just put a cap on the program instead of leaving it wide open people would not be royally screwed.

This treasonous scumbag has done enough to mess with the American people, and I wish he would have to pay for all his crimes.

Share if you are sick of Barack Obama!

H/T [ Conservative Daily Post, Money CNN ]

 

Liberty Belle is a libertarian and provocateur who believes in freedom and liberty for all Americans. As a passionate journalist, she works relentlessly to uncover the corruption happening in Washington, while exposing politicians and individuals who wish to do us harm. Liberty’s legendary ability to piss off liberals and get to the bottom of corruption makes her an extremely dangerous foe to all the easily-triggered snowflakes out there.

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