Your Tax Dollars At Work: Govt Officially Forgiving Student Debt

Already we’re seeing student loan defaults creep up…

Loans issued in 2012 are defaulting at a faster rate than ever before. Interest rates are only rising.

Over 44 million Americans owe student loans, and according to the Federal Reserve, 11.2% of them are delinquent (at least 90 days late) or in default.

It’s hard enough to pay back your loans if you study medicine to become a doctor, or something else that could lead to a relatively high paying career.

But now 22-year olds are graduating with $200,000 of debt, and all they have to show for it is an undergraduate degree in underwater basket weaving.

No direction. No plan. Just a useless degree.

Then there’s the adults who are still swimming in student debt…

There are even almost 2 million Americans over the age of 62 who still owe a combined $62 billion in student loans. That’s over 32 grand per borrower over 62.

I don’t think Social Security is going to cover that… even if by some miracle it stays solvent.

Given these headwinds, we’ve been wondering how on earth this crushing student debt load will ever be paid back.

And I think we just got our answer.

This month, Secretary of Education Betsy Davos agreed to forgive $150 million worth of student debt.

It’s a mini Jubilee.

Here’s the thing… Betsy Davos did NOT want to forgive this debt. She fought to change the rules, but an Obama era forgiveness policy was enforced by the courts.

So if one of the meanest women in government can’t stop this debt from being forgiven… just imagine if we had someone like Bernie Sanders or Kamala Harris steering the ship.

And who do you think is going to come after Trump?

Trump was America’s response to Obama. And the next pendulum swing will be even greater to the left.

So we just saw the first $150 million… and there’s another $1.465 trillion to go in the debt jubilee.

If you ever wondered why I think it’s a moral obligation to pay as little taxes as possible, this is it.

If you want to give the government your dollars to fund YouTube bro to go to Thailand, go ahead.

I’ll be in Puerto Rico, paying a 4% corporate tax rate and 0% capital gains.

Maybe I’ll see you down here.

To continue learning how to legitimately reduce your taxes, I encourage you to download our free Perfect Plan B Guide.

Zero Hedge

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One Response to “Your Tax Dollars At Work: Govt Officially Forgiving Student Debt”

  1. SanityClaus says:

    The crooks from the Dept. of “Education” STEAL GOVERNMENT FUNDS AND USE THEM TO PURCHASE DEFAULTED LOANS MADE BY PRIVATE BANKS TO PRIVATE INDIVIDUALS. THE GOVERNMENT HAS NO RESPONSIBILITY TO BUY DEFAULTED LOANS MADE BY PRIVATE BANKS. THIS IS THEFT AND FRAUD.
    THE BANKS TAKE NO RISK IN LENDING TO STUDENTS BECAUSE IF THE STUDENT CANNOT PAY BACK THE LOAN THE CROOKS AT THE DEPT. OF EDUCATION ROB THE PUBLIC TREASURY TO BUY THE DEFAULTED LOAN. THE GOVERNMENT DID NOT MAKE THE LOAN OR COLLECT THE INTEREST. THE BANK MADE THE LOAN AND COLLECTED THE INTEREST FROM THE GOVERNMENT WHILE THE STUDENT WAS ATTENDING SCHOOL. WHEN THE STUDENT DEFAULTED ON THE LOAN THE PRIVATE FOR PROFIT BANK WAS BAILED OUT BY THE CROOKS FROM THE DEPT. OF EDUCATION WHO STOLE MONEY FROM THE PUBLIC TREASURY TO BUY THE DEFAULTED LOAN BECAUSE FAKE BANKS ARE NOT IN BUSINESS TO TAKE RISKS AND THEREFORE DO NOT HAVE TO LOSE MONEY ON A BAD INVESTMENT.
    THIS IS THEFT AND FRAUD PRACTICED BY THE DEPT. OF EDUCATION.

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