The WSJ op-ed also highlighted the rising number of severely delinquent student loans since then and blamed the Obama administration for expanding plans in 2012 for new borrowers “to reduce defaults, buy off millennial voters and disguise the cost of its student-loan takeover.”
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The main purpose was to subsidize all the leftists that dominate universities and colleges.
If you think about it long enough, and remember the bits and pieces of 2008’s banking crisis...he was doing the banks a ‘favor’.
Eventually, student-loans will reach a level where it’s a crisis and a quarter of the adults with degrees can’t get ahead (even at age 40). So down the road, there would be this magnificent ‘gift’ laying there where you’d go and give all of these idiots $20k to $40k of government credit, and they’d be indebted to you and vote Democrat for decades.
There needs to be some massive change to this loan business...where the max you can borrow is $10k a year.
bttt