We’ve all seen the headlines: the cost of university education in the United States has become completely debilitating. And student debt keeps rising to record high levels.
It’s almost commonplace now for a 22-year old to graduate from university with $50,000+ in student debt.
According to data from the Federal Reserve, the total amount of student debt in the United States is now $1.5 trillion.
As SovereignMan.com's Simon Black notes, that’s more than the estimated $1.3 trillion in direct costs that the government spent fighting the War in Iraq.
What’s probably even more bizarre is that the US government actually owns about 70% of those student loans– a total of $1.06 trillion.
I discovered this over the weekend when I was reviewing the federal government’s recently published financial statements for fiscal year 2017.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
6 comments:
Yep, and I think I hold about a third of it!!
And to think, all they do is teach our kids that the economic system that helped their parents pay for them to go to these liberal echo chambers is bad and we should all get things for free.
Oh, the irony.
I guess that is why so many young people are liberal and become conservative once they have to earn money and pay bills.
The millennials are borrowing part of that money to pay for living in "luxury" student housing complexes and to buy starbucks and iphones. Get a job instead, then there won't be a problem.
How much of this is for Illegals education?
Thank you banking industry
Susie Orman thinks that student debt should be forgiven via bankrupcy.How catastrophic would that be to our economy.Since she said that I haven't listened to a word she says.
I can't believe they spent that much money in Iraq
Post a Comment