Money

America’s Problem with Student Loans Is Much Bigger Than Anybody Realized

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The Department of Education recently released a memo admitting that repayment rates on student loans have been grossly exaggerated. Data from 99.8% of schools across the country has been manipulated to cover up growing problems with the $1.3 trillion in outstanding student loans. New calculations show that more than half of all borrowers from 1,000 different institutions have defaulted on or not paid back a single dollar of their loans over the last seven years.

 

This comes in stark contrast to previous claims and should call into question any statistics provided by government agencies. The American people haven’t fully grasped the long-term implications of loaning a trillion dollars to young people who have no credit or assets.

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  • MotivatedinOhio

    Along with rising student debt. President Trump just signed an executive order, rolling back the fiduciary duty rule. (The one that keeps brokers from steering retired people into bad investments, in order to make money). This to me ensures that the economy will crash, since it is based more than ever on unequal weights and measures. (God is against this). Christians are only focused on abortion (abortion is wrong) but there are a lot of things that God hates, that people seem to ignore. It seems to me that people should read a little more of their Bible. Last week I felt that I should get the last of my money out of the market. Glad I did, when I saw this.