From Policy Mic: The Government Just Made a $41.3 BILLION Profit Off Of Student Loans

“There’s a risk of almost treating students like an ATM,” warned Becky Timmons, assistant vice president for government relations at the American Council on Education. Student loans are big business. In 2013 alone, students borrowed around $106 billion in loans. Millions of borrowers are in default on their loans, and the average borrower owes over $14,000 when they default. So it’s not great news when the federal government makes headlines for their profits on loans. 

 

Questions for Consideration:

How has the student debt crisis affected you? What can Congress do to remove the burden of student debt? How has the mainstream media’s portrayal of the student debt crisis shaped your perception of the issue? With the ever increasing student loans, what does the future look like for students who wish to continue their education after high school? What responsibility do universities/colleges have in disclosing the amount of debt prospective students may be facing? 

Want to learn more:

Salon: America’s Dangerous Conflict of Interest

Huffington Post: Student Loans Are a Good Deal for Students and the Government 

Think Progress: Three Ways Congress Could Go Bold On The Student Debt Crisis

Infographic: Student Debt Crisis

 

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