
A couple weeks ago the Wall Street Journal confirmed our worst fears about the student loan program, that is, that it was going to blow up in the government’s face just like all the other gigantic debt-bubbles that preceded it. For the sake of background, here’s a brief excerpt from the article that will bring...
Read MoreStudent Loans and For Profit Colleges
Student loans are a big business. In fact, student debt now exceeds $895 billion which is more than the total Americans owe on their credit cards. And, most of these loans are underwritten by the US government, which means that the taxpayer is on the hook when students can't repay the debt. This is a...
Read MoreAn Interview with Alan Nasser
Alan Nasser is professor emeritus of Political Economy at the Evergreen State College in Olympia, Washington. He co-authored "The Student Loan Debt Bubble" along with Kelly Norman, which appeared in CounterPunch.)MW Is it possible to "walk away" from a student loan and declare bankruptcy?Alan Nasser--- No, it's not possible for student debtors to escape financial...
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