The student loan scam bubble is awful. Not only are the loans issued with terrible interest rates, but often kickbacks are being made to the schools to steer students to particular lenders.
And then Obama nationalized most student loans, which made a bad situation far worse.
What I’m looking forward to are when some states forbid it for their state universities. That could cause not only the student loan bubble to collapse, but the bloated education bubble as well.
The interest rate used to be 3% before the feds got really involved, now it is between 6 and 9%. It is worse than a mortgage because the only tangible is a piece of paper.
The feds hold the loan and there is no guarantee that graduates will get a job to be able to pay it off.
Whoever thought this up ought to be shot and p*$$ed on.
If state universities started turning out Republican voters like some private universities do you'd see their student loans yanked in a blink of an eye (excluding Nancy Pelosi's).