Trying to pay off all those student loans? Working extra hours to do so? Taking out more loans for next year of college? Well, if you are doing any of these things, the government loves you. After all, according to the latest data, those of you who are paying student loans are giving the government billions of dollars a year in profit. In fact, they made over 41 billion dollars from student loans last year. With such profits, it looks unlikely that they are going to be reforming the system to benefit those of you out there who are trying to get your loans paid off, and why would they?
Well, it would be the right thing to do, but we all know that politics is a numbers and money game. Obama made a lot of big promises when he was running for office, but it looks like, once again, he has sold us short. Rates on student loans have stayed steady or gone up when Obama promised he would find a way to get them down. Meanwhile, students who thought they were doing the right thing are paying outrageous interest on loans they took out, and the government is rolling in the cash that they are forking over.
It’s not Obama’s fault though, it’s every politician in Washington. They are doing everything they can to milk ever red cent out of the American people, and it is sick that they are taking advantage of the most susceptible people in the country. After all, those just getting out of college are oftentimes having a hard time getting jobs once they get out, and the government is just putting more and more burden on their backs. Many are even regretting their choice to go to college after they graduate. So next time you look into taking out another loan to pay for school for you or your kids, just remember that it may not pay off in the end and act accordingly.
May God Bless America,
The Generation X Conservative