The College-Loan Scandal: Matt Taibbi on the Ripping Off of Young America | Politics News | Rolling Stone
The federal government has made it easier than ever to borrow money for higher education – saddling a generation with crushing debts and inflating a bubble that could bring down the economy
The bi-partisan congressional solution: delay a year, after which student loans go up to 7.25 to 8.8%.
The president’s solution: Make a press-worthy attack on banks while ignoring skyrocketing base costs.
The results: an exponentially growing economic bubble whose burst will make the real estate bubble look like a polite hiccup.
“The roughly two-thirds of U.S. students who take out loans to finance their college education can…”
“The roughly two-thirds of U.S. students who take out loans to finance their college education can end up in a situation most resembling the historical concept of indenture.”
How Student Debt Is Holding Back The Housing Market
How Student Debt Is Holding Back The Housing Market:
College grads should be getting ready to live the American Dream and buy a house of their own. But they’re being held back by their crushing debt loads […] Students got caught in a housing market spiral: many parents who had once used home equity to help finance college costs had to pull back when the market tanked, leaving students to take on more debt, which is now getting in their way of owning their own homes. […]
BTW: the housing market is rebounding on speculation of an increase in homeownership that WILL NEVER HAPPEN. Prepare for student debt to crash the US economy not just once, but twice.
