Topic: The U.S. government stands to lose more than $400 billion from the federal student loan program
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The U.S. government stands to lose more than $400 billion from the federal student loan program, an internal analysis shows, approaching the size of losses incurred by banks during the subprime-mortgage crisis.

The Education Department, with the help of two private consultants, looked at $1.37 trillion in student loans held by the government at the start of the year. Their conclusion: Borrowers will pay back $935 billion in principal and interest. That would leave taxpayers on the hook for $435 billion, according to documents reviewed by The Wall Street Journal.

Last year the Congressional Budget Office estimated that the student-loan program would cost taxpayers $31.5 billion, including administrative costs.

After decades of no-questions-asked lending, the government is realizing that it has a pile of toxic debt on its books. By comparison, private lenders lost $535 billion on subprime-mortgages during the 2008 financial crisis, according to Mark Zandi, chief economist at Moody’s Analytics.

https://www.wsj.com/articles/student-loan-losses-seen-costing-u-s-more-than-400-billion-11605963600?mod=cxrecs_join#cxrecs_s

:nuke:


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That's like 2 months of our deficit spending under Trump.


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$400 Billion? Who cares. 

Joe & Kamala want to forgive those unfair loans that students borrowed to sturdy worthless subjects so that colleges can grossly overpay (some but not all) professors.  And it will be FREE in the future.


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Loaning money to Africans for education.
:winner:


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why is the government charging 'Mericans interest on their own tax money to get an education?

derp


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. said: That's like 2 months of our deficit spending under Trump.

TRUE DAT. WHICH, BTW, IS EQUIVALENT TO­ FIVE MINUTES OF WHAT THE FEDERAL RESERVE BANK IS PLEASED TO CALL "QUANTITATIVE EASING"


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Thanks, Obama.


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. said: Loaning money to Africans for education.
:winner:

­:lol:


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Time to get rid of it, no?


Posted by .
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Whatevvs just make more money



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