A Third of All Federal Student Loans Could Go Bad, Treasury Advisory Committee Warns

CNS News reports:

Four years after the federal government took over the student loan program, nine percent of student loans are in default and another 23 percent have the potential to go bad as well, according to a report by the Treasury Borrowing Advisory Committee (TBAC).

“Millions of student-loan borrowers are in default on their student loans; many more could face default in the near future,” Deputy Treasury Secretary Sarah Bloom Raskin said during a Tampa speech on Nov. 6th, two days after the report was released.


According to data released Nov. 7 by the Federal Reserve, Americans currently owe $1.3 trillion on their student loans. The level of education indebtedness has increased 84 percent since 2009.

The great moments of socialism! Do you really think the overpaid, tenured Marxists on campus care about you?