Student Loans: When President Obama came into the White House eight years ago, he promised a "New Era of Responsibility." It didn't work out that way, particularly for student loans, leaving President Trump with a huge mess to clean up.
In fact, when it comes to borrowing for college, students are being utterly irresponsible.
A recent survey by LendEDU of 500 current college students found that 49.8% of them think that the federal government will forgive their loans after they graduate.
"In reality," LendEDU's Mike Brown notes, "a very small percentage of graduates will even qualify for Public Service Loan Forgiveness. It is worrisome that current students may be over-borrowing on the hope that their student debt will be forgiven in the future."
Worrisome, indeed, particularly given that the amount federal student loan debt is currently $1.3 trillion, and rising fast.
Of that, $31 billion is seriously delinquent — meaning that debtors are at least 90 days past due on their payments. In fact, at 11.2%, the delinquency rate on student loans is 57% higher than credit card debt, and nearly four times the rate of all loans combined.
For the most part, it is President Obama who is to blame for this mess. One of his first actions as president was to nationalize the student loan program, cutting out private lenders and instead having the government lend directly to students.
As a result, direct lending went from 21% of federal student aid in 2009 to 73% today, and the total amount of student loan debt on the federal books doubled in eight years.
At the same time, Obama made it easier for students to avoid paying back the full cost of those loans, and repeatedly spoke as if students were victims who deserved to be protected from their own debt. In fact, Obama's "reforms" of student lending became widely known as the "Obama Student Loan Forgiveness" program.
Student loans are not about the students but about subsidizing corrupt, socialist professors seeking to drive students toward communism and overthrow the United States and our Constitution. End all federal funding to students and the liberal institutions.
Let 18-30 year olds enter the workforce, and pay their own way. They will then seek education that can actually help them become productive members of society and not out participating in protests paid by George Soros, the most vile scumbag of all the world.
The irony of this is you cut this group down to size you cut the street protesters simultaneously. T'his group is the one causing the upheavel in the streets
It's called Personal Responsibility. You make a debt or bill then You Pay it . the education benefited You not the tax payer so you pay the debt.
The young have been set up for debt.
About 35 years, on the Phil Donahue show there was an audience full of people who had several degrees, and none of them could get a job.
Debt is but a way to control people.
obuma needs to be an un American citizen.
fuhrer Osama IS an un-American, a punk trying to overthrow the government and establish himself as the dictator in charge!!!!! He should be hanged by the neck until his corpse rots!!!!!
Not sure, but I think he really IS! I still have not seen an disputable BIRTH CERTIFICATE for him. You know.... One that describes a REAL hospital and cannot be taken apart with Photo Shop.
More free stuff to increase the $20 trillion dollar debt and $120 trillion dollars of liabilities in government promises.
" In fact, when it comes to borrowing for college, students are being utterly irresponsible.
A recent survey by LendEDU of 500 current college students found that 49.8% of them think that the federal government will forgive their loans after they graduate. "
They want the freedoms that are in America they just want someone else to pay for those freedoms