When Student Loans Go Bad, We’re All on the Hook
April 25, 2017
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There’s not going to be a bailout for the next financial crisis because the federal government already owns the bad debt. 40% of federal student loans are given to parents and students with subprime credit scores, and 11% of the Parent Plus loans are already delinquent (no payments made for over a year). We’ve racked up over $1,200,000,000,000 in student loan debt — quadrupled since the year 2000 — and the government is not showing signs of slowing down.