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People Are Not Paying Back Student Loans

Wednesday, March 15, 2017 11:09
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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.


On a tip from Bodhisattva.


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