it is far more than that.
Is it?
At the end of the first three months of 2019, student loan debt hit $1.486 trillion, according to credit data from the New York Federal Reserve. By comparison, student loan at the height of the financial crisis was $611 billion and has been mostly rising since, Mohr said. “It has ballooned and that’s a dramatic increase,” the fixed-income analyst said of the student-debt expansion.
The student loan part has not grown much at all over the last 5 to 6 years.
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Did you just ignore the stats? $1.5Trn vs. $611bn 10 years ago. That is F*CKING staggering.
This is a campaign cash cow for the Dem party. They get government to guarantee student loans lenders would never approve given the appalling return on the degree investment. This drives ever increasing costs of degrees. Lenders can't lose if the students default on the loan so colleges and universities crank up the price. Students get screwed, saddled with debt the size of a home mortgage, default and it ruins their credit for 10 years, but so long as the cash keeps flowing into Dem coffers they have no problem ruining students lives.
Democrats Assured America that if we let Colleges set their own tuition, that they'd be fair to students and The Taxpayers.
Ever since that day Colleges have been raping students and taxpayers with absurd tuition rate increases year after year after year.
We don't need Free College. We need to stop Colleges from Operating like Monopolies and Gouging Consumers.
Those numbers don't even begin to include the long term damage done to those who got roped into the fraud, who will suffer for a long time with high interest rates, bad credit, and lost time having to build careers in areas other than their majors. It's a bigger scam than the savings and loan scams before it's over with. The peddlers really should be charged with crimes.