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Student loan bubble may be next big bailout: Bigger than credit card debt

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posted on Dec, 4 2010 @ 11:05 AM
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I know you all really want to hear about another bailout. Maybe Obama will create a bailout "czar" position. Or maybe it would be redundant with The Fed. This was covered on ATS once before with a wopping 5 flags and in a different category so I thought it would be time to update after six months. Plus this is a new article dated Dec.3rd

Snippet: Another economic catstrophe: Student loan bubble about to explode: In some respects, the student loan crisis looks remarkably like the subprime mortgage crisis. First, outstanding student loan debt has ballooned: It grew roughly four-fold in the last decade to $833 billion as of June — surpassing outstanding credit-card debt for the first time.

Sudent loan bubble

ATS

Merry Christmas!




posted on Dec, 4 2010 @ 11:49 AM
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I owe and my husband owes..I'm down to about 6K in debt with 8.5% interest while he owes more than 25K with same interest..

What can a person do? They follow you around like the IRS. There is no way of getting around them. We have tried and tried and tried to get a lower interest rate but they just won't do it. They are a**holes on the phone too.

What to do?...........What to do? No wonder no one wants to go to college anymore..it's really not worth the cost. By the time a person leaves a normal university they are anywhere from 50K-75K in debt. A private university can go up to 300K-500K in debt. A normal semester at the local state university is around 6K..this doesn't include books, transportation, parking stickers, supplies, living, food, etc. Then there are those pesky classroom fees, 20 bucks here, 50 bucks there....never ending.



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