Much of the student loan debt load is the result of reparations, where universities overcharged white students, forcing them to take out loans, and used the proceeds of the exorbitant tuition fees to underwrite "scholarships" to black kids. This is the primary reason college tuition has risen 500% since 1980.
Student loans are the ONLY debt that cannot be escaped through personal bankruptcy.
Now, Obama is talking about making people with outstanding student loans indentured servants to the federal government.
Coincidence?
Student loans are the ONLY debt that cannot be escaped through personal bankruptcy.
True, and they are also atypical in that they ARE forgiven at death, unlike other loans that are offset against assets when the estate is probated. Essentially, they function like a life insurance policy.