Word: programming
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...past, federal-loan repayment was structured so that a graduate would have to pay a certain amount of money each month, regardless of his or her income at the time. Under the IBR program, if you lose your job or are forced to take a pay cut, the amount you have to pay back per month will drop. If, however, your salary subsequently increases, your payments will still be capped at 15% of your disposable income. That is, of course, if you are eligible to participate in the program; grads with private loans are exempted as well as those...
...Grants an entitlement or guaranteed benefit like Social Security that would be protected from annual budget cuts. Duncan is also trying to transition to a system in which students get all their college loans from the government, rather than going through banks and other private lenders. The new IBR program does not apply to private loans. (See pictures of the college dorm's evolution...
Under the IBR program, if students are still paying back college loans after 25 years, they will be eligible to have all debt erased (though, if the law stands as is, much of that remaining balance will be taxed as income). And if students go into a public-service career, they are eligible for loan forgiveness after a mere 10 years. While participants in programs such as AmeriCorps, the Peace Corps, the military and other such institutions have long been eligible for loan reduction or forgiveness, this new program expands such mercy to potentially hundreds of thousands more students...
...growing tendency of the poor to have children before marriage - the vast majority of unmarried women having babies are undereducated and have low incomes - is a catastrophic approach to life, as three Presidents in a row have tried to convince them. Bill Clinton's welfare-to-work program encouraged marriage, George W. Bush spent millions to promote marriage, and Barack Obama has spoken powerfully on the need for men to stay with their children: "We need fathers to step up, to realize that their job does not end at conception; that what makes you a man is not the ability...
...Such rich multiples are unjustified in a recession. Duoyuan is seen as a direct play on China's $585 billion stimulus-spending program, which is focused on infrastructure projects like water and sewer systems. But for the company to benefit (it manufactures equipment for wastewater circulation and filtration), government money must actually go to infrastructure building and not be wasted through inefficiencies and corruption. Bawang, which competes with P&G and Unilever, among other companies that make personal-care products, is supposed to ride China's rising personal consumption. That may be a dicey proposition in a country of thrifty...