by J. D. Heyes, Natural News:
In recent years there has been an explosion of debt incurred by tens of millions of younger Americans as they borrow more to pay higher and higher tuition rates at the nation’s institutes of higher learning.
The primary lender to college students — many of whom take courses and graduate with degrees that don’t help them find gainful employment or prepare them for a real career — has been the taxpayers, via the federal government. Loans through programs like the FSA — the Federal Student Aid program, run by the Department of Education — have ballooned over the past decade, and tens of millions of students and former students are now saddled with hundreds of billions in loans that many simply cannot repay.
Democrats in Congress, led by President Obama, have proposed “loan forgiveness” programs, but Republicans and conservatives have opposed such measures on the grounds that simply forgiving the loan amounts would not only be insulting to taxpayers but add more to the spiraling federal debt, not to mention that it wouldn’t be fair to those who have been paying their debts.
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