One chart clearly illustrates coming Student loan debt crisis

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Student loan debt crisis

Student loan debt crisis: D-Day Fast Approaching

Student debt is increasing at the rate of almost $3000.00 per second; this is stunning considering that the education system does not even rank in the top 10 globally.  Worse yet, it indicates that colleges are simply forcing young individuals to take on mind-boggling amounts of debt in the hopes of landing a good job when they graduate.

Getting a student loan is about as easy it was to get a loan during the booming housing market and look what happened to that market. All you had to do was be able to scratch an X on the signature line and you would qualify for a loan that most had no hope of ever paying back. Given the ease at which a student can get a loan and then abuse that loan by using the money for personal purchases, a student loan debt crisis is a given.

Now college’s keeping increasing tuition rates while the Job market is the worst it has ever been despite the lying statistics the bureau of labour statics issues (BLS)

One chart clearly illustrates coming student debt crisis

 

This chart below illustrates that unemployment is not 5% as the BLS states but almost 23% as indicated by shadow stats.

US economic recovery is illusory

Student loan debt crisis Due to Students Taking on Too Much  Debt

Students are taking on too much debt, with almost no hope of being able to pay it back.  The student loan portfolio is set to almost double by 2025 to almost $2.5 trillion by 2025.  Already almost 12% of individuals are delinquent on their student loans and the rate will only increase with the passage of time.

There are solutions to this problem, one of which is to leave below your means and put this money into the stock market, but you need to know which companies to get into and when to get into them. Subscribe to our free newsletter to learn how to spot opportunities before the masses do and how to improve your odds of winning in the markets. Mass psychology states that opportunity is found in places that the crowd cannot see or is ignoring. The trend is your friend everything else is your foe.

Student debt crisis overblown, and Due to Stupidity: Video

Student loan Debt Crisis: Loan Forgiveness is not the solution

Student debt now stands at $1.46 trillion with an additional $79 billion registered in 2018. This debt hits young people right at the time when they need money to get started. Thus, many claim that college loans delay adulthood decisions, diminishes homeownership and stifles small business creation.

There are three reasons why loan forgiveness schemes are wrong and should not be implemented.

The reality is that no one forces students to take out these loans. When the student signs the agreement, they know that they are committing themselves to repayment. There is also a wide world of alternative options (including scholarships and online courses) open to all high school graduates that can minimize the expenses that a college education entails. Students have an obligation to choose the options they can afford without jeopardizing their future.

Thus, there is no injustice committed since students freely agree to repay the loan. The money is due to the lender as a matter of justice. To defraud the lender of repayment–often the taxpayer—is an act of injustice on the part of the student. Debt forgiveness is not the foundation for better education but a socialistic system of mediocrity. It will not stimulate the economy since real economic growth presupposes responsibility, duty and planning. Above all, student loan forgiveness teaches graduates a wrong vision of life.   Cnsnews.com

Forbes on Student Loan Forgiveness

Unfortunately, those of us who have been around for a while know just how “expensive” free stuff can be. Even Elizabeth Warren admits her plans would cost $1.2 trillion over ten years — a tab taxpayers are expected to handle on top of everything else.

Of course, there’s a plan to tax “those other folks” to pay for all of this — a “2% annual tax on the 75,000 families with $50 million or more in wealth,” according to Warren’s own details.

The original plan is to tax other people for giant entitlement programs and new initiatives, but everything costs more than people think, and those costs trickle down to hit everyone if you give them enough time.

But costs and rising tax bills are only two problems that will plague student loan forgiveness on such a broad scale. There are much more egregious moral hazards to be aware of — hazards that could lead to a whirlwind of consequences for pretty much everyone involved, and especially taxpayers.

With Warren’s plan, households with an income under $100,000 would have up to $50,000 in student loan debt forgiven, but forgiveness would be phased out for households who earn between $100,000 and $250,000. Finally, households with incomes higher than $250,000 will have no loans forgiven.

Due to the way this plan is set up, a family with two doctors and top tier earnings would be left to fend for themselves. This is despite the fact they probably spent 8+ years in school so they could learn to save people’s lives. Forbes

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