Monday, April 04, 2011

Stuff liberals run - student loans

You know how liberals have been banging on banks for conning people into mortgages they couldn't afford.

Where's the same outrage over student loans.

Liberals have been preying on students to borrow to their eyeballs to get degrees that may or may not ever provide a return on investment.............

Carrying more debt after they leave campus, more students defaulted on their student loans after the recession hit in 2008 and 2009.

The newest numbers from the Department of Education show that 13.8 percent of students whose loans first came due starting in October 2007 and had defaulted by September 2010.

The results are the first trial of a three-year rate, which drove up the numbers for most schools from the previous two-year window and made it difficult to compare with previous years. Defaults generally come after the loan is at least 270 days delinquent.

So let's see. If you default on a mortgage you can walk away with a credit blemish and a potential foreclosure on your record. If you default on a student loan, you never walk away. It's easier to walk away from Carmine the Loan Shark.

More.....

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