Student debt has been a $1 trillion problem for at least six years.
Six years ago, on April 25, 2012, activists took to the streets to mark the country’s outstanding student loan debt surpassing $1 trillion. And in the years since, many of the trends that pushed student debt levels to climb have persisted, and in some cases, they’ve gotten worse.
Focusing on the $1 trillion mark is somewhat “arbitrary,” given that it doesn’t change the debt burdens individuals are managing every day, said Mark Huelsman, a senior policy analyst at Demos, a left-leaning think tank. (Outstanding student debt reached $1 trillion during the second quarter of 2012, according to the Federal Reserve, which includes April.)
Still, Huelsman said these kinds of “big round numbers” can help galvanize people around the issue. “Rising student debt has really happened over a 20-year period,” he said.
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6 comments:
The government better not offer forgiveness of these loans. A lot of investors and retirees are counting on these youngsters to repay the money they borrowed from those investors and retirees who invested in these youngster’s future.
It is a shame what the bankers have done to the American public.
All of us were convinced since the 1970s that a college education would benefit us if we were smart enough to get accepted.
As time marched on, it was "easy" to be accepted. The topic changed to "afford it". Most of us continued to believe (incorrectly) that the college education would be beneficial to our children. Except now the problem was "can we afford it"? So many of us took on debt to help our children in what we were convinced was the "right thing to do". Also our children took on debt in order to scrape together enough money to "afford" the college education.
Now we all know in hind sight that the economy was systematically dismantled by the globalists.
The global corporations convinced the US Congress to enter "trade deals" which off-shored jobs and made enormous profits for the corporations. The US has no economy now. Consumerism is not an economy. An economy includes PRODUCTION and CONSUMPTION and seeks a balance of the two. In the US we live in a completely manufactured and managed communist society. The bankers have destroyed America and all of the opportunities we once enjoyed as a society. They are globalists and seek only profits. They regard regular people as "goy" or cattle, or useless eaters.
So now it is OBVIOUS to all of us that a college education is worthless. Our children do NOT benefit from obtaining the college degree - in the way that we did from the 1960s and 1970s. There are very few good jobs and many of those jobs are taken by the very smartest people who come from here from foreign lands. Many doctors are now from other countries. Good for them, but bad for us. There are too many lawyers and the profession is not admirable any longer - so that is not a viable career for most Americans. There are too many accountants and managers in our managed society so those wages are no longer viable for a family or a career.
There just are not many good paying jobs any longer. No matter what the degree. There are SOME good paying jobs, but every year there are millions of college graduates. This society is in collapse. A society that consumes other peoples' production is a doomed society. It is a society of DEBT SLAVES.
Thank you international bankers.
3:12
I agree with most of what you say except that I think engineering and science are very worthwhile disciplines of study
258
Sorry pal.
The money they borrowed was printed out of thin air by the bankers.
Try again.
7:09...you missed the point, I think.
And then made it.
I feel some of what you said is true; however, not everyone needs to go to college to be successful. My husband and I did not go to college. Our parents could not afford it. It didn't destroy us. We have 2 beautiful homes. Nice annuity and retirement. We started working right out of high school and just retired 10 years ago. We worked hard. Our education came from hands on. We both had office jobs. We have one child. That was all we could afford. We went were there was work - the Nation's capital. Go eew the jobs are. If you are smart and want to be a doctor or scientist and have no money go gor the student loan but pay it back when you become successful. Pay forward. Don't use your student loans for vacation, weddings etc. Do the right thing.
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