Exposing the Student Loan Racket (Infographic)

Student loan debt, now at $830 billion, has surpassed credit card debt—a statement not likely to have been heard 20 years ago. Student loans, unlike any other form of debt, CANNOT be forgiven via bankruptcy—these loans MUST be repaid. Is this the next bubble to burst?

Personally I think we will see our young fleeing the country to escape their debt.  Scroll half down and see who benefits from this debt, not only are we burdening our young with the Federal and State debts, we are backdoor using them as a source of income.  We sell them the dream, you’ve heard it over and over again on TV and radio, “people with degrees make…….. more than those who don’t”, and by the way we will help finance your dream.   But do they really?  Who is commissioning those studies and who is performing those studies?  Perhaps those who benefit from increasing student enrollment?  Perhaps.

The young don’t understand the soul crushing burden of debt, what’s a 100,000$ to a 18 year old?  What is truely scary is how many loans are made to 2 year college students that don’t finish, you got the debt and no degree.

And for many with degrees an economy in recession with few new jobs.

Why are you not supprised?