And you can an equally staggering $42 billion of this is pupil-financing loans
Bottomless borrowing equals inflated costs equals more money to possess colleges and you can colleges, alot more undetectable fees on the regulators to get and, possibly most significant, a more impressive and much more hazardous debt bomb toward backs off the fresh new mature operating populace.
If the federal financing apps aren’t getting swallowed up by money grubbing colleges to possess expensive and you may ineffective gilding, they’re becoming controlled of the federal government alone
The fresh new statistics for the latter are in reality unquestionable. (more…)