Martin O'Malley, Debt Free College

[elleng]

http://action.martinomalley.com/page/s/debt-free-college?&utm_medium=email&utm_source=omalley&utm_content=3&utm_campaign=debtfreecollege&source=debtfreecollege

[upaloopa]

1. How will he do that?

He hasn't declared he doesn't give specifics.
I guess we will have to wait a while longer

[elleng]

2. We are waiting to hear.

He's suggested his announcement would be some time in May.

As to 'how,' he mentioned enabling refinancing of college loans, and income-based repayment plans.

[upaloopa]

4. I understand what he said but how do you

get lenders to refinance. Do you need a good credit score? A job? Do we ignore borrowing requirements like we did with the sub prime crisis?

[elleng]

5. Governments provide incentives,

so I suppose such might be part of what he has in mind. We shall see.

[rogerashton]

3. Income based repayment

means that your repayment for college is as a proportion of your income, not a rate of interest on the loans. The idea is not to discourage college for lower-paying jobs "like teaching." That would mean that the finance would be handled strictly by government, I think -- it's hard to see getting banksters involved with a repayment scheme like that. Funnily enough, that "liberal" idea originated with the conservative Economist guru, Milton Friedman, in the early '60s.