HIGHER EDUCATION BUBBLE UPDATE: Politico: The College Loan Bombshell Hidden in the Budget: Obama’s new repayment program comes with a record $22 billion shortfall. “In obscure data tables buried deep in its 2016 budget proposal, the Obama administration revealed this week that its student loan program had a $21.8 billion shortfall last year, apparently the largest ever recorded for any government credit program.” This is why I advise students not to count on Income-Based Repayment or similar programs being around when they graduate.
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