There are going to be massive defaults on the student loans just as there were on subsidized mortgages. Kids can’t graduate with 50K of debt and pay off those loans making entry level salaries.
There are going to be massive defaults on the student loans just as there were on subsidized mortgages.
They won’t LET you default on a student loan. You can’t even discharge them through bankruptcy. I met a lady once who got a government job as a Skip Tracer tracking down student loan scofflaws. She got the job because she spoke Spanish, and was tasked with finding student loan defaulters who had gone to SOUTH AMERICA!!
That being said I fully expect Obama and the Democrats to start floating student loan “forgiveness” schemes any time they are running behind in the polls close to an election.
It’s much worse than that... they have to pay off $50,000 in student loans while unemployed.