New Report: The U.S. Student-Loan Debt Crisis Is Even Worse Than We Thought

student debt bomb

 

(From Forbes.com):

By Tom Lindsay

Last year, in these pages, I reported that, on January 13, 2017 (just one week before the Obama administration exited DC), the Obama Department of Education released a memorandum confessing that it had “overstated student loan repayment rates at most colleges and trade schools.” The “updated numbers” provided by the Department were analyzed by the Wall Street Journal’s staff, who found that the new data “revealed that the Department previously had inflated the repayment rates for 99.8% of all colleges and trade schools in the country” (emphasis supplied).

As troubling as those revelations were, new data released last fall by the Trump Department of Education paints an even bleaker portrait of the lives of student loan borrowers. Education researcher Erin Dunlop Velez has just published a thoughtful study that analyzes the new student loan data now available. What she finds in the new statistics is still more alarming.  CONTINUE READING HERE

 

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