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http://moonbattery.com/?p=21750&utm_source=dlvr.it&u...

America’s now-nationalized student loan industry just reached a value of $1 trillion, according to Citigroup, growing at a 20 percent-per-year pace. Since President Obama nationalized the industry (a tacked-on provision of the Obamacare bill), tuition has gone up 25 percent and the three-year default rate is at a record 13.4 percent. …

With many young people unable to pay their loans (average graduating debt is about $29,000), Citigroup and others are speculating that this industry might be ripe for a bailout.

To pay off all the current defaults, Citigroup says it would cost taxpayers $74 billion. However, this number doesn’t include those who will default in the coming years, and, when the government rewards the defaulters, it will encourage more borrowers not to pay their debts.

And liberals in Congress have proposed forgiving all student loans via “The Student Loan Forgiveness Act 2012,” costing taxpayers $1 trillion.
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I blame the Wall Street fatcats and Bush, er, and republican obstruction.
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I blame the Wall Street fatcats and Bush, er, and republican obstruction.
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I blame myself

I saw it coming, and still acted like a moron

I paid cash for my kids education and there is only 1 year left now, it is all going to be forgiven, and I paid cash, and I knew Obama was President

Man, I hate stupid, especially when I do it
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Speaking of too big to fail, the banks that were bailed out because they were too big to fail are now even bigger!


http://www.facethefactsusa.org/facts/the-big-get-bigger-the-...
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