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James B. Steele and Lance Williams – WHO GOT RICH OFF THE STUDENT DEBT CRISIS

A generation ago, Congress privatized a student loan program intended to give more Americans access to higher education. In its place, lawmakers created another profit center for Wall Street and a system of college finance that has fed the nation’s cycle of inequality. Step by step, Congress has enacted one law after another to make student debt the worst kind of …

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Bill Holter – Assets and Liabilities… And “Debt Saturation”

We live in a world where the difference between assets and liabilities has been blurred. In the old days, an asset was something you “owned” while a liability was something you “owed”. Over the years as everything became securitized, someone else’s liability is now routinely someone’s asset but ONLY thought of as an asset. It has always been this way …

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KEVIN CAREY – Student Debt in America: Lend With a Smile, Collect With a Fist

The American student loan crisis is often seen as a problem of profligacy and predation. Wasteful colleges raise tuition every year, we are told, even as middle-class wages stagnate and unscrupulous for-profit colleges bilk the unwary. The result is mounting unmanageable debt. There is much truth in this diagnosis. But it does not explain the plight of Liz Kelley, a …

student loans

Obama Admin Will Forgive Up To $3.6 BILLION In Student Loans By Blake Neff

The Department of Education announced Monday that it is implementing a plan to forgive as much as $3.6 billion in student loans given to students attending schools affiliated with the defunct for-profit college chain Corinthian Colleges. Corinthian was once one of the biggest players in for-profit colleges, but abruptly fell apart in 2014 amid accusations that it was inflating graduates’ job placement …

Student debt

National student loan debt reaches a bonkers $1.2 trillion

Kyle Craig wants to go to graduate school, but just being an undergraduate is already drowning him in debt. “I’ve got student loans just like everyone else walking around,” says Craig, a senior at Old Dominion University. “I expect my debt to be around $30,000 by the time I’m done here.” “Yes, I have student loans,” says Kyle Coghill, a …

student loans

Federal Report: The College Debt Bubble Is Collapsing Now: 33% Of All Student Loans Are Delinquent On Repayments

With all of that job creation being claimed by the Obama administration and disseminated by mainstream media outlets as signs of a sustained recovery you’d think most college graduates would have no trouble keeping up with their bills. But new data released by the Department of Education tell a different story. According to the report as many as 33% of American college …

studentbillofrights

The fraud of Obama’s “Student Aid Bill of Rights”

Last week President Obama announced a series of executive actions that he dubbed a “Student Aid Bill of Rights.” The initiative is partially an exercise in damage control. It follows a series of lawsuits and scandals involving the Department of Education (DOE). The government agency has become the target of growing anger for protection of predatory student loan collection agencies, …