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The Student Loan Debt Bubble Is Creating Millions Of Modern Day Serfs

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The Student Loan Debt Bubble Is Creating Millions Of Modern Day Serfs

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LA, California, USA
Experience: Intermediate
Platform: NinjaTrader
Trading: CL,ES mainly
Victory Trader's Avatar
Posts: 530 since Sep 2011

Average student loan debt at graduation is estimated to be about $28,720 right now.

That is a crazy figure and it has absolutely soared in recent years. In fact, student loan debt in America has grown by 511 percent since 1999.

And student loan debt will follow you wherever you go.

If you do not pay your loans when you graduate, you could send up having your wages, your tax refunds and even your Social Security benefits garnished.

In addition, your account could be turned over to the debt collectors and they can be absolutely brutal.

The student loan debt bubble is the best thing to happen to debt collectors in ages. The following is what one professional who works in the industry said in a recent article that he wrote for a debt collection industry publication….

As I wandered around the crowd of NYU students at their rally protesting student debt at the end of February, I couldn’t believe the accumulated wealth they represented – for our industry.

The Student Loan Debt Bubble Is Creating Millions Of Modern Day Serfs -

There are some civilized countries which provide both vocational and college education after high school, for no or very few charges to their students. The US, of course, is not one of those countries.

The increase in fees in the US appears to be engineered so that, ultimately, only the very wealthy can afford college, and because of the debt burden of student loans, those who do not come from moneyed families will no longer be able to attend.

There is a way around this, however, and that is finding a respected on-line school, and getting the degree you want, paying as you go, while you are working. Yes, it is a slow process; but right now, it beats the horrific debt trap of student loans.

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Last Updated on September 11, 2012

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