Federal Reserve Bank of New York -- Staff Reports
April 2014 NY Federal Reserve report shows borrowers, and their average balance, has continued to rise.
Posted on 04/15/2015 12:22:31 PM PDT by SeekAndFind
Some of the world's biggest banks, including JP Morgan, Bank of America and US Bancorp, are withdrawing from the student loan market. That's according to a series of reports over the past couple years.
It couldn't come at a worse time.
That is because it coincides with a rise in students who want student loans.
And, the amount of money those students want to borrow is also going up because the price of of a college education keeps rising.
Federal Reserve Bank of New York -- Staff Reports
April 2014 NY Federal Reserve report shows borrowers, and their average balance, has continued to rise.
Why are the banks pulling back on student loans?
Right now the Federal Reserve is keeping interest rates low.
That means it's cheap to borrow money, and so the number of student loans is ballooning.
(Excerpt) Read more at businessinsider.com ...
Why extend a student loan to an idiot majoring in Gay Eskimo Mythology who will never be able to pay it back? Loaning money is a business, not a charity.
Well, they’re doing the smart thing.
Besides, the system is untenable. Let Obama get blamed for collapsing it.
Pricey tuition. My year [74-75] at technical school in Toledo cost $1400 for the year, and that included a rudimentary set of hand tools, textbook and shop fees.
> Nobody will or can forgive a trillion dollars, and not every 20 something went to college.
And they shouldn’t but he Millenials believe that Obama can do no wrong and are part of the “collective” hive mind. They believe just about anything he says save a few that possess some modicum of common sense
> Nobody will or can forgive a trillion dollars, and not every 20 something went to college.
And they shouldn’t but the Millenials believe that Obama can do no wrong and are part of the “collective” hive mind. They believe just about anything he says save a few that possess some modicum of common sense
Brainwashed. Where are their parents during this 16 years of brainwashing? They can’t all be lefties.
> Brainwashed. Where are their parents during this 16 years of brainwashing? They can’t all be lefties.
2 years of unversity indoctrination and peer pressure will beat 18 years of good upbringing by parents, initially..that is until they go through a crisis or hard times then suddenly their brain is awakened from its liberal coma
” 2 years of unversity indoctrination and peer pressure will beat 18 years of good upbringing by parents,”
Maybe, but my brother and I went to universities in Boston, where it is a felony to espouse conservative ideas. We did just fine.
“Or to buy drugs and alcohol.”
I quit college for a year and worked as a line inspector at a factory. Earned enough dollars to pay off my student loan and return to college for my masters. Also had money left over to purchase a decent amount of wine, women and song.
> Maybe, but my brother and I went to universities in Boston, where it is a felony to espouse conservative ideas. We did just fine.
Lol
Agreed. Students do not need more debt. Now is a good time to stop. more debt just means rising tuition costs anyway
No one should get a loan for a worthless degree in socialist studies. That is cruel.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.