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

from The Anti Media:

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.

Increases in tuition seen over the past two decades have become a point of controversy and angst for those who don’t fully understand the contributing factors. Between 1995 and 2015, the average cost of a public, four-year university skyrocketed by well over 200%. Although federal student aid programs are often championed as a necessity, they have been instrumental in making higher education unaffordable. The opportunity to pay for college by working a part-time job evaporated as soon as huge sums of money were handed out to anyone with a pulse. Since students no longer pay their tuition upfront, colleges are able to raise prices in perpetuity, knowing the government will step in and make credit easier and easier to obtain. As an added bonus, outstanding student loans account for 45% of the government’s financial assets.

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

  • Happy Bird

    “The Education/Loan Program (say, Problem) fails because it is based on a lie.

    The lie being, that parents and adults have the ‘right’ to charge their own children for knowledge and wisdom that is inherently and rightfully theirs to begin with.

    To add insult to this injury the ‘adults’ charge their own children ‘Usury’ for same.

    Did ancient man charge his kids a fee for knowledge of fire, how to fish or build a home? Does the farmer charge the child for the seed, he himself gives, to plant?

    Passing knowledge ‘freely to the young ones is how humanity was able to progress so far so quickly; then the priests and money changers got in on the ‘enterprise of knowledge’

    It seems they do this only for the sake of their sabbaticals, tenures and their own need to feel financially and morally viable when passing on outdated or ignorant ‘knowledge’.

    Today, the adults choose to bail out bankers, companies and priests; the cost of their own children’s future. Robots and Trade Agreements will be the final nails.

    This being the bottom line of the legacy of ‘boomers’ and ‘the greatest generation’.

    It is disgusting what is being done to the children’s future by those who even still today, after all their prayers and talking have failed so obviously, profess to know what is best.

    Young people must further suffer the insult of fools who left them these corrupted system, being called names like ‘lazy’ and ‘snowflake’ by those same failures who broke their the future, no less.

    Doing so for nothing more than the petty price of their failed ego, fragile pride and falling bank accounts. How low we have sunk in the great and fast moving River of Creation.

    Young people must now stand and be heard – aggressively get in the faces of their grandparents and parents and challenge them to do better. Do it, lest they become them.
    Maybe it will take a slap to their face to wake them up but wake them up you must.

    Young people have the best tools at their finger tips now more than at any other point in humanities walk forward, to create healthier “communities”, peace and prosperity; more so than the proceeding generations ever could have.

    I for one, am a sorry man, for my part in these failures; to secure a viable and healthy future for all children, everywhere. Please forgive me. I will do better in the time remaining for me here, on this earth, which i borrowed from you.

    miigwetch, thank you

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