The Federal Student Loan Fiasco

In all the annals of really bad decisions made in the pursuit of political benefit, President Obama’s 2010 federal government takeover of the student loan industry from the private sector has to rank among both the worst and the most costly.
How do we know? Here’s how Cory Turner of National Public Radio recently described what has become the modern day role of the U.S. Department of Education:
“Today, the U.S. Department of Education is, essentially, a trillion-dollar bank, serving more than 40 million student borrowers.”
The Federal Reserve puts the numbers at 44.5 million student loan borrowers with a combined student loan

Read more at The Independent Institute