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06:04 PM
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Obama Calls for additional $1 TRILLION student loan bailout for his bankster buddies
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Carshy McCarsh:MV8yMDY4MDcxXzM0Nzk3NjgzX0ZCOUYxMTE5] [quote:Anonymous Coward 28814581:MV8yMDY4MDcxXzM0Nzk3NjYzXzY1MUMzQzk3] why not? [/quote] Why not indeed. Barry should bail out all the banks for all the mortgages that are defaulting because his policies have put everyone out of business, too. [/quote]
Original Message
A possible $1 trillion bailout is coming—and soon.
America’s now-nationalized student loan industry just reached a value of $1 trillion, according to Citigroup, growing at a 20 percent-per-year pace. Since President Obama nationalized the industry (a tacked-on provision of the Obamacare bill), tuition has gone up 25 percent and the three-year default rate is at a record 13.4 percent.
...
Adding another $1 trillion dollars to the national debt isn’t exactly “forgiveness” for young people—it’s prolonging the payoff. In fact, student loan bailouts are a catch-22 for young people because they’re going to be held accountable for paying off the national debt and interest payments.
A student loan bailout will also be rewarding higher education bureaucrats for a diminished product. A college degree used to mean that a person would add on average $1 million to their income over their lifetime. Today a college degree only guarantees an average $300,000 in added income over a lifetime.
[
link to www.breitbart.com
]
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