Obama: “Iím Not Going To Screw Students”

The debate about raising the federal debt ceiling has real consequences for the US’s colleges and universities. Today’s Chronicle of Higher Education says that, according to a report issued by Moody’s Investor Service on Thursday, only elite schools would not see their credit ratings downgraded in the event that President Obama and Congress are unable to come to an agreement about the debt ceiling and reducing the deficit by August 2. Without such a deal, the US government is in danger of defaulting on its debt and Moody’s rating of federal debts such as U.S. bonds would be downgraded.

25 universities (17 private and 8 public) which hold Moody’s highest rating, Aaa, would feel little effects if federal debt are downgraded, as they have “substantial capacity to withstand cuts and interruptions in federal funding for research programs or federal student tuition assistance.” It’s not looking so good for the remaining schools and certainly not for the small, Jesuit college in Jersey City where I teach. Says the Chronicle of Higher Education:

The rest of higher education is at a greater risk of a rating downgrade, not to mention a rough fiscal patch, in the event of a federal-government default, said John Nelson, an analyst for Moody’s, because a higher proportion of their income comes from the government, in particular Pell Grants for low-income students.

The vast majority of students at my college — most first-generation college students and many first-generation Americans from families waiting to get their green cards — are dependent on financial assistance in the for nof scholarships and/or loans to pay their tuition and other expenses. We’re a private, non-profit college and therefore more costly for students to attend than New Jersey’s state universities and community colleges. We do offer students some educational options and more one-on-one attention than larger schools, but these are luxuries that get sacrificed when there are no dollars to pay tuition.

Obama has also rejected a Republican proposal that would have increased student debt by requiring students to pay interest on their loans while still in college, according to a report at The Daily Beast. When House majority leader, Rep. Eric I. Cantor proposed end the in-school interest subsidy on federal student loans, Obama said:

“I’m not going to do that. I’m not going to take money from old people and screw students.”

As the Chronicle of Higher Education notes, ending the in-school subsidy would result in savings of $43 billion for the government over 10 years; a 2010 report by a deficit-reduction commission appointed by Obama had endorsed the cut.

Ending the subsidy would mean I’ll be seeing more empty seats in my classroom and in many others across the nation.


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W. C
W. C5 days ago

Thank you for caring.

William C
William C7 days ago

Thanks for the information.

ERIKA S1 years ago


Duane B.
.4 years ago

Thank you for sharing.

Kimberly Crane
Kimberly Crane6 years ago

Well they ( the corporate occupiers) made it mandatory that every American that owns a vehicle has to buy AUTO Insurance, after they pretty much made it where everyone has to have a vehicle. They ( the criminal occupiers of OUR offices and buildings) are laughing as people fight and argue ( DISTRACTIONS). These are NOT representatives of the LIFETIME tax paying American families ( working or not). While they have Americans arguing, they've stolen OUR money, OUR military, OUR offices, OUR laws, OUR rights and freedoms. They all get tax subsidies on top of tax credits, on top of more tax payer dollars. They cannot AFFORD to use OUR tax dollars for roads, schools, and safety nets for lifetime tax paying American families, because they WANT it ALL and are DEMANDING it all from their employees in OUR offices and buildings! STOP buying traitor, corporate, garbage, products( from corporations that were MADE by American workers/consumers) STOP paying these occupiers to represent their corporate criminal bosses and their bankster robber bosses! ABOLISH IRS! At least until we can remove these occupiers. Name one tax paid agency whom actually represents the PEOPLE? FDA? Nope! USDA? Nope! etc., etc.
STOP fighting and unite for our ONE common goal... To remove these criminal occupiers and save OUR country from their INSANITY and/or ABOLISH OUR government altogether as is our right and duty! Why are we the people paying these "person-hood corporate criminal occupiers"?

Bruce S.
Bruce S6 years ago

Obama: “I’m Not Going To Screw Students”

I wonder WHO WILL get "screwed"!

David N.
David N6 years ago

No Gary what I hate is people like you who think you have some right to say you know what I (Gary) think it's OK if you violate everyone's rights.

I pay for my own costs so why should I now be forced into a program I have 0 interest in. My not wanting health insurance has no effect on anyone since I pay my own bills.

That is a violation of my right to pick and chose what I spend MY money on.

Now go back to breaking the law and frying some more of them brain cells. As for your service I could careless. Nothing you did in Nam secured my rights or freedom. Vietnam was not a threat to us. But typical of war mongering presidents like Bush and Obama they run around crying be afraid be very afraid. Only ones to fear is our own government and people like you who back their illegal and unconstitutional actions!!!

Gary A.
Gary Addis6 years ago

David, you have "read the Constitution word for word" like Michelle Bachman attended an accredited law school (not), like her husband is a psychologist (not), like you tea baggers actually give a damn about the nation-- the nation, including the 20% of Americans who often go to bed hungry.

As for me, ignoranus, I first smoked dope while I was serving in Vietnam, protecting your right to be be willfully ignorant, redneck racist and anal retentive. As for my intellect, son, I scored 139 on my MENSA exam, which places my IQ in the top 2% of Americans.

Your attitude has nothing to do with your intelligence or lack thereof. It is reflective of poison in your soul. You have roads to ride on, power into your home, water to flush your caca, safe foods in the market because we as a people give up a measure of our independence and our income for the betterment of all. You do not live in a bubble: you avail yourself of services paid for by all. You know what? I do not believe that you have a few thousand put aside in case a family member has to be hospitalized. I think you are young and think you are indestructible...and you are self centered rather than community centered.

If you want to separate yourself and family from public services, go off into the wilderness and live as a caveman. While you are a member of society, you will pay your share as I will pay mine-- the nation (We the People) insists on it.

David N.
David N6 years ago

I have read the Constitution word for word.

Even if you have it's obvious from your post you enjoy breaking the law as you admitted to smoking weed and it is also very obviously you fried some brain cells in the process.

Gary A.
Gary Addis6 years ago

David N, your duplicity is astonishing. My answer to your question was quite detailed. Not only are you demonstrating that you are an ignoranus, you evidently take pride in it.

Regarding maryjane, dude, I smoked my first joint in a foxhole in South Vietnam, my last puff on a bong in 1977 after my children got big enough to notice such things. Son, if they legalized pot in the workplace as well as in the home, I would buy what we used to call a nickel bag tomorrow morning. In 1969 a nickel bag was $5.00--legalized, the price might be affordable once again.

A better question is why would you be so opposed to pot. A drunk driving even a tricycle is a killer. A pot toker driving makes everyone slow down and smell the roses they normally zoom by--which is worse, hmm? A drunk beats his wife and kids and kicks his dog, a pot smoker smiles a lot at everyone and munches potato chips by the pound--which is worse, hmm?

IMHO, David, you need to smoke a joint and read the US Constitution, then smoke another joint and examine your inner self. The world and all that's in it was not created just for you, dude; you don't earn a dime without the active assistance of the big guv'mint you so stupidly abhor-- by government, Davy N, I am referring to the millions of people all around you--you know, the humanity that apparently disgusts you with our smells and our need to force you to pay into the system just like the rest of us.

C'mon, David, lighten up, roll another one,