Tag Archives: student loans

Student Loan Bubble


Nationwide student loan debt reached an all time high of one trillion dollars. It also reached an all time high in delinquency rates. Is this the next bubble? Here’s a Bloomberg story about a government plan to make automatic withdrawals from student loan debtors’ paychecks.

Commencement

Dana Milbank reports that our first black, Pacific, gay, woman president elbowed aside a real woman (Jill Abramson, the first female executive editor of the NYT) to give the commencement address at Barnard. Meanwhile a NYT/CBS poll showed Romney ahead of Obama with women voters.

Amen

 

The president bonded with students over college loans.

The Feds took over the student loan market in 2010. Now Obama wants Congress to keep interest rates low so students and their parents can more easily go into debt to pay tuition.

Tuition has increased faster than fuel prices.

So far Obama hasn’t insisted that college president fat cats be hauled before Congress.

Middleman

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As President Obama signed into law the federal takeover of the student loan industry, he said he was “ending giveaways to banks” by “cutting out the middleman“.  “Middleman” Sallie Mae announced it will lay off 2500 employees.