Results 1 to 7 of 7

Thread: Student Loan Debt Reaches $1 Trillion

  1. #1
    Join Date
    Sep 2008
    Location
    Western U.S.
    Posts
    10,573

    Default Student Loan Debt Reaches $1 Trillion

    Student Loan Debt Reaches $1 Trillion

    March 25, 2012


    Constitutionalists and free-market economists claim that the idea that every high school graduate is entitled to a government-subsidized loan to attend a $30,000-a-year university is fiscally maniacal. But unfortunately, it’s also a fiscal reality that has propelled college graduates into financial Armageddon.
    Indeed, U.S. student-debt outstanding exceeded $1 trillion last year — according to new estimates released by the Consumer Financial Protection Bureau (CFPB) — potentially leading to further delays in home-buying and, in turn, an extended impasse on the housing recovery. CFPB student loan ombudsman Rohit Chopra, for instance, asserts that “first-time home-buyers are a substantial part of the housing market,” and “instead of saving for a down payment, these borrowers are sending big payments every month.”

    Bankruptcy attorneys are observing firsthand the calamitous rise in student loan debt, as a recentsurvey conducted by the National Association of Consumer Bankruptcy Attorneys found that 81 percent of bankruptcy lawyers disclosed that the number of prospective clients holding such debt has inflated “significantly” or “somewhat” in the last three to four years.

    The student debt debacle, which some experts are labeling the “next debt bomb,” involves a coterie of malefactors. On the surface, the culprits entail a stale economy, rising interest rates, and persistently high unemployment. Moreover, CFPB officials contend that such debt is rising because young Americans are returning to college simply to avoid the anemic labor market. These seem to be the logical — and more politically safe — explanations.
    But despite what Washington’s entitlement-touting bureaucrats attest, that’s not the end of the story. It encompasses a much more complex plotline.
    Full article here
    "But none of the wicked shall understand [that the End of the Age is upon them]."
    [Daniel 12:10b]

  2. #2
    Join Date
    May 2009
    Location
    Flower Mound, TX (In the Basement)
    Posts
    2,590

    Default

    Just what this Fool, Bobo, the Post Turtle, wanted. Now he owns those students.....and will use them for his purposes.
    Gun Control: The theory that a woman found dead in an alley, raped and strangled with her own pantyhose, is somehow morally superior to a woman explaining to the police how her attacker got that fatal bullet wound.

    You have been banned for the following reason:
    continued trolling after warning- starting a fight in a news thread

  3. #3
    Join Date
    Sep 2011
    Location
    Texas
    Posts
    886

    Default

    Quote Originally Posted by a777pilot View Post
    Just what this Fool, Bobo, the Post Turtle, wanted. Now he owns those students.....and will use them for his purposes.
    We always were mere chattel and now they have the paper contract to prove it.
    --------------------------------------------------
    "The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails."

  4. #4
    Join Date
    Aug 2008
    Posts
    8,460

    Default

    Socialist Insecurity and the government-sponsorship college loan scams make Bernie Madoff look like a hubcap thief by comparison.

  5. #5
    Join Date
    Jul 2010
    Posts
    8,836

    Default

    Double enslavement. Chained to a debt in order to suffer, in many cases, a worthless education and in most if not all a liberal indoctrination.

    The things you learn in school vs what the world teaches you...

  6. #6
    Join Date
    Jan 2008
    Location
    Looking at Beautiful mountains
    Posts
    3,351

    Default

    CNBC stated this morning that of that debt, $300 billion of it is in default.

    $300 billion!!!!

  7. #7
    Join Date
    May 2009
    Location
    Flower Mound, TX (In the Basement)
    Posts
    2,590

    Default

    Quote Originally Posted by Milk-maid View Post
    CNBC stated this morning that of that debt, $300 billion of it is in default.

    $300 billion!!!!
    The price We the People pay in taxes so that Obama has his slaves.
    Gun Control: The theory that a woman found dead in an alley, raped and strangled with her own pantyhose, is somehow morally superior to a woman explaining to the police how her attacker got that fatal bullet wound.

    You have been banned for the following reason:
    continued trolling after warning- starting a fight in a news thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •