U.S. federal banks would not see half the student debt


Debts of U.S. students in the same hopeless, like high: according to the federal government, they have become the second most significant consumer debt after debt on credit cards. And if the banks basically get their money back, the government will likely have to write off $ 500,000,000,000 student loans — those loans simply no one pays!

The problem of debt on federal loans for higher education, which for a long time no one pays attention, resolved itself, with the predictable result — former students simply refuse to return the money …

According to the U.S. Department of Education and the National Student Loan Database (National Student Loan Data System), the number of young Americans who may be forcibly declared bankrupt for failure to pay interest on the loan for more than 90 days, is 7,000,000 people. Each of them must state an average of $ 14,500.

These people risk pay their tax return — provided that they do find work, and they have something to pay taxes. Furthermore, in contrast to commercial companies, federal banks have the right to seize the debtor's wages without court warrants — again, if the salary is generally available, which is not always the case.

However, even the threat of meetings with tax inspectors or judicial executor does not affect the situation: from $ 1 trillion in student loans regularly paid only $ 146 billion.


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