Tuesday, June 4, 2013

There is No Real Answer Untill Profits are Taking out of Student Loans!

The problem with President Obama and our Congress where should I start? I started out with the idea I would give you all kinds of statistics to back up that what I'm giving you are the straight facts! Well I think it's time each of you started doing some research too! I'm going to give the just enough information that I hope you start to get to same  sick feeling I have in my stomach!

The election of the President in 2008 $2.4 Billion dollars! Our Congress depending on the article will spend a minimum $1.5 Million  some more than $6.5 Million. One article I read said  9 out 10 congressional seats were won by the candidate that spent the most money!

I am trying for you each of you to truly understand; no matter how good of a person, when they get elected there is so much corruption very few will survive.

We are told by the president and congress there are solutions to this more than $1.1 trillion student loan debt. If so then why does the debt continue to grow larger and larger everyday?

I have now spent over 3 years watching, researching  till I wake up with this sick feeling in my stomach almost every morning.

I don't know if I'm more up-set or thankful  for an article I read in the Huff Post. The reason I say this it gave me an idea that I know will have to start small, but it can grow quickly into communities all over America!

First let's define Non-Profit in the Oxford Desk dictionary and Thesaurus :
not involving nor making a profit      self-financing, noncommercial, charitable

The reason I was upset after reading the article it seems we  have investors in non-profits lending groups that are making huge profits? These lenders have been in business for years, and on top of that  the non-profit lobbyist legislative provision was written nearly verbatim in the house bill.
OK I'll give this article you can google "How Nonprofits Won Special Treatment in Student lending Bill"

Well out of this and several others my idea born!

The government made somewhere in the mid $50 Billion in profits in 2012!

I would like to raise the money for a Pilot Program starting with 1,000 loans@ $25,000 or less
non-profit is self-financing by definition.

I think I have a way to start raising the  1,000 x $25,000= $25,000,000.00 ,but all suggestion would be greatly appreciated

Start a non-profit bank/lending group  the first 1000 loans will be refinanced @ 2%-3% fixed rate
There are no million dollar salaries / bonuses. We set salary cap at say $250,000 for the CEO if needed. I'm sure there is a retired bank executive that might even donate his time and salary, and a fair salary for employees.

A  percentage of profits left over could go back into the principle of the student loans?.
No more added fees etc...
I believe this can be self sustaining program.

I know this idea will need to be tweaked to make it into a working program,but it's a start to a solution!

This is no longer about profits.......... it's now about education!