“amount of loan debt incurred by college students has doubled over the last decade”
The worst part of this is that it’s never enough. And people actually want this to be free, meaning more money from taxpayers.
Campus Reform reports:
Student loan debt soars as colleges spend millions on diversity efforts, illegal aliens
The student debt crisis in America continues to grow at an alarming rate, with a new study suggesting that the amount of loan debt incurred by college students has doubled over the last decade.
Justinas Baltrusaitis for LearnBonds.com documents that, between 2015 and 2019, the student debt increased by more than 30 percent during the time period and also worried that the value of this debt would hit $2 trillion by 2024.
The study comes as colleges are spending millions per year on diversity efforts and provide illegal immigrants with scholarships.
“The value of outstanding student loans in the United States has more than doubled in ten years by 119.51 [percent.]” Baltrusaitis wrote.
One graph in the study showed data from the Federal Reserve, revealing that the value of outstanding student loans has quadrupled from nearly $481 billion in the first quarter of 2006 to more than $1.6 trillion by the third quarter of 2019.
One of the issues the study highlighted was the difference between federal and private loans. The study explained that the federal option has an interest rate “perennially lower” than the private option.
“On the other hand,” the study continued, “private loans have more options like fixed interest rate, variable interest rate, and income-based monthly plans whose interest rates vary depending on the lender and credit history.”
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