Re:We Must Cancel Everyone’s Student Debt, for the Economy’s...
by troydavis on Saturday February 10, 2018 @10:24AM
(#16347655)
> Part of the argument was the government owns 90% of outstanding student loan debt. Don't know how true this figure is but that's their claim.
At least according to http://money.cnn.com/2017/01/18/pf/college/navient-sallie-ma..., by borrower count, roughly 50% are federally backed and 50% are private.
However, even for the federal loans where taxpayers are the lender[1], there's still a choice whether to retire the debt or leave the debt as-is and fund something else (like tuition for future students).
[1]: More on federal loan funding, ie, which government entities are actually the lenders: https://www.loan.com/student-loans/where-does-funding-for-fe...
Part of the argument was the government owns 90% of outstanding student loan debt. Don't know how true this figure is but that's their claim.
One would think if this were a viable plan Helicopter Ben would've done it when things were really bad since they were giving away money left and right to "kickstart" the economy -- I personally got like $4200 for nothing due to the way I was discharged from the reserves.