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Tue Jun 28, 2016, 06:28 AM

 

Clinton to offer debt forgiveness to young entrepeneurs in the form of deferred

student loan payments.


WASHINGTON — Hillary Clinton will propose allowing entrepreneurs to defer making student loan payments, as part of a technology agenda she plans to introduce on Tuesday.

Clinton’s campaign says she would permit start-up founders and early employees to forgo payments on their federal student loans for up to three years. Those who launch businesses that provide social benefits would also be permitted to apply for forgiveness of up to $17,500 of their debt after five years.

She’ll also propose connecting every household in America to high-speed internet by 2020 and training 50,000 new computer science teachers over the next decade.

Clinton will present her agenda during a campaign stop at a small business incubator in Denver. She is working to woo young voters attracted to primary rival Bernie Sanders.

<snip>

https://www.washingtonpost.com/business/technology/clinton-to-offer-debt-forgiveness-to-young-entrepreneurs/2016/06/28/865404f8-3d17-11e6-9e16-4cf01a41decb_story.html

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Reply Clinton to offer debt forgiveness to young entrepeneurs in the form of deferred (Original post)
cali Jun 2016 OP
peace13 Jun 2016 #1
ismnotwasm Jun 2016 #5
peace13 Jun 2016 #7
seabeckind Jun 2016 #2
arcane1 Jun 2016 #12
ljm2002 Jun 2016 #3
gratuitous Jun 2016 #4
Igel Jun 2016 #9
gratuitous Jun 2016 #15
surrealAmerican Jun 2016 #6
My Good Babushka Jun 2016 #8
arcane1 Jun 2016 #13
TransitJohn Jun 2016 #10
Sam_Fields Jun 2016 #11
alarimer Jun 2016 #14
vintx Jun 2016 #16
arcane1 Jun 2016 #17
hughee99 Jun 2016 #18

Response to cali (Original post)

Tue Jun 28, 2016, 07:06 AM

1. We need to increase the scope here.

 

Also the words, 'provide social benefits' are subject to interpretation. And lastly, extending the loan term without stopping the interest from accruing ..... just makes things worse. If we want to attract Bernie voters use his proposal.

Millions of students with medical school payments will love to read this ....not.

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Response to peace13 (Reply #1)

Tue Jun 28, 2016, 07:47 AM

5. If you would read the article

This is part of a plan for the Tech industry. Not a plan for the entire student loan program.

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Response to ismnotwasm (Reply #5)

Tue Jun 28, 2016, 07:59 AM

7. Link please to her comprehensive plan.

 

I don't see a reason to create bit piece programs with subjective criteria when we can hit hit this problem head on and clean the whole mess up. Our needs are great as the future arrives on the horizon with millions of seniors with health care and housing issues, energy issues, fracking pollution creating new and varied health and environmental issues, contaminated food. Are we going to create an educational exception for each of these or get to the bottom of the problem with our educational system?!

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Response to cali (Original post)

Tue Jun 28, 2016, 07:16 AM

2. Devil's in the details.

For example, high-speed internet by 2020 to every household in America is most definitely a lofty goal and could prove to be a tremendous engine for economic growth.

Done right it could have the potential to provide a communications system that would open up many cottage industries, like individuals coordinating call center functions.

Or it could be nothing more than an extension of our current monopolistic cable systems where we subsidize their infrastructure and then give it to them.

IOW, will this expansion follow the Chattanooga model or the Comcast model?

Will this be a 21st century Rural Electrification Project?

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Response to seabeckind (Reply #2)

Tue Jun 28, 2016, 09:42 AM

12. "Comcast in every home" n/t

 

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Response to cali (Original post)

Tue Jun 28, 2016, 07:33 AM

3. Oh great...

...don't address the costs of education, but instead give a temporary "out" to some students (while allowing interest to continue to accrue on their loans). It's a typically technocratic policy proposal, thinking that tweaks like this will "spur innovation". It's another of those "solutions" that insist on making it into a private-enterprise deal, rather than an issue of governance. And time will tell about the overall quality of the enterprises that such a policy will engender. I'll bet there will be a large percentage of them started up only to get the protection, without much if any real innovation going on at all.

Also, as to the 50,000 new computer science teachers: as a software person myself I think that's great. But it does seem to be in conflict with her policies on H1B visas, which she wants more of -- even though we already have qualified IT professionals here in the USA who can't find work (in spite of the claim that businesses "can't find enough talent in the US". So how does that work? We get more IT professionals and then export them?

Oh well. Sure she's better than Trump, by a long (very, very long) shot. But oh, what could have been...

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Response to cali (Original post)

Tue Jun 28, 2016, 07:42 AM

4. Very nice for "entrepreneurs"

But what about people who just want to work for a living instead of living to work? What happened to that ancient notion of eight hours for work, eight hours for sleep, and eight hours to do as you please? Between ever-increasing commute times, "on call" status for workers, "independent contractor" rip-offs, and a dozen other little bonuses for employers, new workers spend more time every day servicing their boss or their debt than ever before. Also, considering the number of start-ups that don't make it, what a lot of people will be doing in chasing this chimera is loading themselves up with even more debt.

I don't think this is a good idea.

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Response to gratuitous (Reply #4)

Tue Jun 28, 2016, 08:50 AM

9. Ancient notion?

I grew up with "a man's work is sun to sun, a woman's work is never done". My mother said her mother often said it, and that was the '30s. Some claim it dates at least to the American Revolution.

It on occasion shows up as "a man's work is dawn to dusk, a woman's work is never done," or with "mother" substituted for "woman", but those are certainly later changes. "Sun to sun" is usually called "archaic," which is a bit worse than "obsolete", and as sayings accrue archaic language they're "repaired" to make sense to newer generations. "Woman" originally also had the meaning "wife," and the wife had to get the man fed and out the door, feed him when he came back at dusk, and deal with the kids. Single women, not so much. It's been a while since that meaning wasn't archaic.

But the expression "sun to sun" has to be younger than the Great Vowel Shift, only after which could "done" and "sun" rhyme. And it's most often true in an agrarian society. If you're a scribe or worked indoors, you could usually work by lamp.

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Response to Igel (Reply #9)

Tue Jun 28, 2016, 10:21 AM

15. No, it's not so ancient

I was goofing on Robert Owens' campaign for the eight hour day early in the 19th century. Nowadays, though, it seems that anything going back further than the space shuttle explosion is ancient history.

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Response to cali (Original post)

Tue Jun 28, 2016, 07:49 AM

6. Won't this mainly benefit those graduates who were wealthier to begin with?

They're the ones who are more likely to have (or be able to borrow) the money to start a business.

What about people who borrowed and don't have the funds available to become "entrepreneurs"? - They're still stuck.

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Response to surrealAmerican (Reply #6)

Tue Jun 28, 2016, 08:37 AM

8. That's very true

if you can get a business loan, or have the connections to loan you start-up money, you are already probably quite privileged.

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Response to surrealAmerican (Reply #6)

Tue Jun 28, 2016, 09:44 AM

13. And recipients of venture capital, which is already a big enough problem.

 

Perpetuating the fake economy of start-ups isn't going to help more than 1% of college graduates.

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Response to cali (Original post)

Tue Jun 28, 2016, 08:52 AM

10. Well, that will benefit like 10 people a year.

Not really impressed.
Also, it mentions deferral, not forgiveness. Forgiveness would really be something.

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Response to cali (Original post)

Tue Jun 28, 2016, 09:05 AM

11. So Joe Worker is stuck paying the bill but the capitalists gets a free ride?

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Response to cali (Original post)

Tue Jun 28, 2016, 10:06 AM

14. Why only entrepreneurs? Why not scientists or teachers?

The world needs fewer stupid tech gadgets and more scientists.

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Response to cali (Original post)

Tue Jun 28, 2016, 10:25 AM

16. Very weak tea. Disappointing, but far from surprising. nt

 

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Response to cali (Original post)

Tue Jun 28, 2016, 11:41 AM

17. Not even ONE post in defense of this proposal.

 

Either hundreds of DUers have you on ignore, or people realize this can't be defended and won't risk discrediting themselves in the attempt.

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Response to cali (Original post)

Tue Jun 28, 2016, 11:47 AM

18. Awkwardly worded and misleading title.

Debt forgiveness and deferred payments are two completely different things.

Yes, I realize it's the Washington post's title. You'd think since they do this professionally, there'd be someone over there who knew that.

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