Agreed. He needs to move on from the election victory. It’s over. Stop talking about it.
I think every day he’s there he’s finding out how bad things actually are and his mind is constantly blown.
I did some research on the length, height, and depth of the student loan mess two weeks ago and am still not better. That by itself is beyond bad and probably beyond words.
Only way I could get my head around it: In 2008, Paulson figured mortgage defaults would be 700B nationally. Today, looking at all brands of default, student loan defaults are at $728B. Between default, forgiveness, forebearance, and deference it’s $728B. No collateral.
Grad rate across the board (measured as the SIX year graduation rate from FOUR year programs) - 58%.
Staggering. Not even part of the narrative yet.
I can imagine him getting briefed on some of this and just not being able to deal.
By the by, there’s a pipeline being built in the Dakotas. That didn’t take long. Nobody’s talking about it.
did some research on the length, height, and depth of the student loan mess two weeks ago and am still not better. That by itself is beyond bad and probably beyond words.
Only way I could get my head around it: In 2008, Paulson figured mortgage defaults would be 700B nationally. Today, looking at all brands of default, student loan defaults are at $728B. Between default, forgiveness, forebearance, and deference it’s $728B. No collateral.
Grad rate across the board (measured as the SIX year graduation rate from FOUR year programs) - 58%.
You are correct and it is really bad. However, people wrongly believe that all of these loans were taken by students actually attending class. That is not completely true...... many students took the loans, pocketed the money, and never went to class. Free stuff.