We now have double the amount of student debt in America then we had in 2008 during the financial crisis.
Meanwhile Harvard is buying up land with water reserves all over wine country. They've become the largest land holder in Wine country California. At the same time they teach kids that capitalism is bad. Hypocrisy anyone? Jesus.
________________________
By Alexandre Tanzi
December 17, 2018
-Bloomberg
U.S. student loan debt outstanding reached a record $1.465 trillion last month and one particular set of borrowers is having a hard time paying back their loans, according to a Bloomberg analysis of student loan securitization data. This debt is raising fiscal risks.
"Over 90% of student loans are guaranteed by the U.S. Department of Education, meaning that if a recession causes a rise in youth unemployment and triggers mass defaults, this contingent liability could prove burdensome for the U.S. government budget," said Paul Della Guardia, economist at the Institute of International Finance in emailed comments.
The record student debt level is more than double the $675 billion outstanding in June 2009 when the recession ended.
For one group of young adults that took out loans in 2012, student loan debt is a particularly stark reminder of college. Loans disbursed in 2012 have defaulted at a faster rate than any other loan cohort since the financial crisis.
https://www.bloomberg.com/news/artic...ince-recession
Meanwhile Harvard is buying up land with water reserves all over wine country. They've become the largest land holder in Wine country California. At the same time they teach kids that capitalism is bad. Hypocrisy anyone? Jesus.
________________________
By Alexandre Tanzi
December 17, 2018
-Bloomberg
U.S. student loan debt outstanding reached a record $1.465 trillion last month and one particular set of borrowers is having a hard time paying back their loans, according to a Bloomberg analysis of student loan securitization data. This debt is raising fiscal risks.
"Over 90% of student loans are guaranteed by the U.S. Department of Education, meaning that if a recession causes a rise in youth unemployment and triggers mass defaults, this contingent liability could prove burdensome for the U.S. government budget," said Paul Della Guardia, economist at the Institute of International Finance in emailed comments.
The record student debt level is more than double the $675 billion outstanding in June 2009 when the recession ended.
For one group of young adults that took out loans in 2012, student loan debt is a particularly stark reminder of college. Loans disbursed in 2012 have defaulted at a faster rate than any other loan cohort since the financial crisis.
https://www.bloomberg.com/news/artic...ince-recession
Comment