The other day, President Obama announced a “new” plan to help ease the burden of student debts, except it wasn’t really new, and it didn’t really help.
The mainstream media parroted the administration’s spin on the proposal, but it makes sense that the White House would want to find some students who were also excited about the plan to reduce the Income Based Repayment percentage to 10% in 2012.
Well, they found one. And he’s a law student.
President Obama is tweeting about this new support….
The changes will help folks like John, a law student in Vermont. He is pursuing a degree in environmental law, and hopes to work at a nonprofit once he finishes grad school.
After he graduated from college two years ago, John says he struggled to find work:
“I had a really hard time finding a decent job—so I had to go a full year between college and law school without a job. I lived at home with my parents to make ends meet.”
But he thinks the new reforms will help:
“I have been keeping my eye on loan repayment options. It sounds like the President’s plans will be helpful for me when I graduate—and hopefully the job market will continue to improve.”
Oh, John. Buddy, I think you need more help than the president, or any president, can provide.
That’s because John was sitting at home, sorry, sitting in his parents’ house, unemployed — and his solution was to take on more debt. Why? Because he thinks that this time, getting more education is going to help him out. Sure, it didn’t do jack squat for him when he went to wherever college to major in whatever field.
But this time, he’s probably going to Vermont Law to focus on environmental law! This time, everything is going to work out. (I’m assuming he’s going to Vermont Law, because Vermont likes to tout that it’s the number one law school in environmental law, and idiots like John who want people to believe that studying “environmental” law is substantively different than taking an Admin Law class and learning which nouns to change end up at schools like Vermont.)
Hey, we’re all glad John is excited about Obama’s plans. But I bet nobody in the Obama Administration knows how much John is being charged to attain his J.D. degree. It’s $43,468 per year, by the way. It’d be a lot easier for the Obama Administration to help him pay this money back if they also did something about the kid getting price-gouged in the first place.
But if somebody at the White House or in the Department of Education really thinks that charging this kid $130K over three years to maybe have a shot at working as a lawyer for a non-profit environmental organization is a good idea, then maybe they need to follow my Twitter feed.