Online:
Visits:
Stories:
Profile image
By Moonbattery (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

People Are Not Paying Back Student Loans

Wednesday, March 15, 2017 11:09
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Despite the conspicuously declining quality of education, tuition has been skyrocketing. How do students afford it? By borrowing, the student loan industry having been nationalized as part of the ObamaCare power grab. How do they pay back these massive loans, especially after their degrees in moonbattery barely qualify them to flip burgers at McDonald’s? Increasingly, they don’t:

A new analysis of federal student loans reveals the number of people severely behind on repaying their debt has soared in the last year, painting a bleak picture of one of the largest government programs.

The Consumer Federation of America released a study Tuesday that found that millions of people had not made a payment on $137 billion in federal student loans for at least nine months in 2016, a 14 percent increase in defaults from a year earlier. The consumer watchdog used the latest data from the Education Department, which manages $1.3 trillion in federal student debt owed by 42.4 million Americans.

What’s striking about the findings is that Americans have a variety of repayment options to avoid default. The Obama administration expanded programs that cap monthly payments to a percentage of earnings, but even though millions of people are enrolled in those income-driven plans, there is still a disconnect.

Americans are too well armed for communism to be imposed all at once without a fight, so it is done in increments. When these increments are too large, they are often rejected. Then it becomes necessary to be more furtive. If voters won’t go along with making tuition “free” by electing an irresponsible leftist like Bernie Sanders, the money is passed out anyway as loans that are not necessarily expected to be repaid.

money-swirling-down-drain

On a tip from Bodhisattva.



Source: http://moonbattery.com/?p=82171

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.