Student Loans are a $1,750,000,000,000 problem. ($1.75 Trillion for those of you like the problem to appear smaller.)
I provided solutions for this problem on national cable with Chris Cuomo a few months ago.
No one else seems to have any solutions.
1/4 of new student loans are Parent Plus loans. No limits.
Are we a country of no solutions for anything?
“Excess No More? Dwindling Pandemic Savings”
The above is from the San Fran Fed. Literally, Trump and the numbnuts in congress (Including Sen. Tim Scott!) sent 2 Trillion out to people in the mail and thought there would be no inflation…I did and said so at the time. but don’t bother reading the whole thing. just look at the graph below and realize—-it’s been spent, then look up again at student loan repayments restarting, then…throw up.
See the red! Read below one paragraph.
“The red area in Figure 1 shows our updated estimate for cumulative drawdowns, which reached more than $1.9 trillion as of June 2023. This implies that there is less than $190 billion of excess savings remaining in the aggregate economy. Should the recent pace of drawdowns persist—for example, at average rates from the past 3, 6, or 12 months—aggregate excess savings would likely be depleted in the third quarter of 2023.”
That would be…today! stevelaffey.com
Student Loan Interest Starts Accruing Today! Are you Ready for the Recession? Am I the Only One With Solutions? Yes!