Amazon.com: 9781935251804: Books: Every parent should read this book, I highly recommend it.
Creeping up on us all on cat’s paws is the school loan bubble. At over a trillion dollars this year, it is going to double again each decade and is already at a crisis because schools are luring in students who were incapable of handling Jr. and Senior High classes and then dumping a lifetime of unescapable debt on them. This is not repayable at low wages and will be deducted from Social Security payments to the lower classes. A total future catastrophe.
I have an offspring still paying off student loans. The US cut public spending on schools and dumped most of the burden onto our children who pay for this via higher and higher school costs covered mainly by government-backed loans offered by private banks and everyone profits except for the students who then end up in a difficult job market and competing with foreign labor brought in to depress wages. So what is the solution Congress, especially the GOP want? Higher student loan interest rates! Continue reading