I've predicted that when Junior is upset that Grandma got a premature flush from the Death Panels, the fedgov will offer up a nice loan forgiveness program....
The government is now essentially in charge of the student loan market, and that’s not working out so well, The Wall Street Journal says in a Friday editorial.
Thanks to a provision passed along with health-care reform in 2010, the Department of Education became the originator of roughly 90 percent of U.S. student loans.
The results aren’t pretty, the paper points out. A whopping 35 percent of student-loan borrowers under 30 were at least 90 days late on their payments at the end of last year, up from 26 percent in 2008 and 21 percent in 2004.
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