Privately held student loan debt surpassed 1 trillion dollars last November. More money is owed in student loans than in privately held credit card debt. This past year, bank write-offs of student loans are up almost 35% from the previous year. Almost every single market signal indicates a growing student loan bubble is on the verge of popping. Many economists agree the student situation is very similar to the 2008 housing crisis; the student loan industry is still receiving massive subsidies and false incentives by the federal government. In order to fully understand the student loan crisis we must first look...
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I could only shake my head every time I heard Obama and the Democrats make their campaign speeches with their appeal to the young dumb and ignorant. Remember how they pushed "guaranteed" education through the student loan programs....and how through Obama care young people could stay on their parents insurance until 26 years of age? Now what do we have? Young Obamacrats saddled with a lifetime of debt that they cannot pay back working at awl-mart with worthless degrees in French poetry and basket weaving. The Democrats take care of the little guys...right?
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