Just heard that student loans taken out only from 2007-2012 are on track to produce $66,000,000,000 (thats billions and not a typo, kids) in PROFITS for the US government in 2014. Oh, yeah, and thats AFTER the cost of funds, the cost of the bad debt losses and administrative costs have been factored in. Next time youre thinking about all the debt were saddling our children with, think about the fact that debt begins at home. If you cant afford to write a check for your kids education -- whether that means theyre headed for the Ivies or graduate school or a community or tech college -- they will need training beyond high school to have a shot at a career that can sustain them financially and these loans are the price theyll be paying. These loans are the real debt we should all be worried about -- the debt that will pick their pockets for decades and keep them from getting a real foothold in the economy, that will prevent them from getting married, having children, buying houses, making investments to grease the wheels of the economy, etc.
Posted on: Mon, 06 Oct 2014 02:58:42 +0000
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