Since President Barack Obama took office in January 2009, the cumulative outstanding balance on federal direct student loans has jumped 517.4 percent.Uncle Sam: the debt pusher man.
The balance owed as of the end of May was $739,641,000,000.00. That is an increase of $619,838,000,000.00 from the balance that was owed as of the end of January 2009, when it was $119,803,000,000.00, according to the Monthly Treasury Statement.
Earlier this month, Obama announced new executive actions to allow five million student-loan borrowers to cap their monthly payments at 10% of their income, according to the White House.
Monday, June 16, 2014
CNS News reports:
Posted by Steve Bartin at 5:06 PM