The Student Loan Debt Crisis Explained

America's collective student loan debt now stands at more than 1.5 trillion dollars . For some perspective , that's more than the entire GDP of Spain , or Sweden , or any of the 54 countries in Africa . A part from mortgages , student loans are the biggest source of personal debt in this country . More than car loans or credit card bills . That's a staggering amount of debt . it is enough to distort and cripple the US economy . overall 2 million Americans owe more than hundred grands in student loans . imagine starting life that far behind . 70% of that debt went to the salaries of the university administrators with titles like: Diversity Chancellor, Dean for Diversity and Community Partnership, LGBT Resource Center Director, Director of Gender and Sexuality, Drug Control Operations Director, and, of course, student loan director. student loans aren't about education. They are about bankers. Corporations are selling economically inert degrees to naive people on credit who then do not earn enough money to repay the loans. This it tenant farming and debt peonage. The loan system towards students is totally predatory in nature and totally subjective on whether the economy is good or bad and jobs are available to the graduates. Granted, anyone who majored in gender studies deserves to be serving coffee at Starbucks for a career and had no business taking out a loan in the first place. student loans was designed to fail at the same time as pensions and social security in an omni bubble which will forever change the way business is run in the united states, right around the time the boomers turn 80-85 and most die off . Federal Student Lending has lead to exponential inflation in college education costs and death of household formations. As Ronald Reagan once quipped, "the scariest words in the English language are we are from the government and we are here to help." Student debt was caused by offering students easy loans. This worked until colleges noticed they had a lot more applicants. More applicants means time to raise tuition. The cycle of "Here's more money for college" and "Let's raise tuition" has been going on for years, during which time college costs have increased at four times the rate of inflation. It used to be possible to work your way through college, working part-time, which meant anyone could still go to college - provided you were (literally) willing to work for it. Now, that's not realistic, since the average job available to a non-college graduate may not provide enough money to go to school even if they work full-time. The good news is, by ignoring the markets, colleges have become so expensive that people are innovating a way around college via internet based education. This reduces costs back to a more manageable level. Problem solved, with no need for the government to get involved. Most of the schools have become indoctrination centers anyway, teaching the kids to support the misguided policies that keep the schools growing ever richer at taxpayer expense. Easy credit, corruption, and our debt based paper money has destroyed the natural market forces that would keep such things from happening in the first place. Obama's largest donors were the universities. Now you know why. This was The Atlantis Report . Please like . share . and subscribe . Thank you ...

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