(Video) Student Loan Default Balance Reaches $137 Billion, and the Consequences Are Severe

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student loan debt

It looks like President Trump has yet another debt crisis to deal with. Student loan debt has reached a staggering $137 billion.

In this News Shot, Joe Joseph explains how this happened, the consequences, and possible solutions.

Watch on YouTube

Source: Balance Of Student Loans In Default Soars To Over $137 Billion

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  • csfurious

    This is very bad and really has an impact on every part of the U.S. economy because none of these students will have money to spend on other things.

  • rsdallas

    This is how the siuation gets resolved. The student defaults and the government pays the debt. There is no problem here. The Government just continues to steal from all of us.

    • jimmy joe

      Indeed!! They made the call to give wall street a reward, why not a bunch of history and english majors!!

  • Arrow

    Severe consequences? For whom?

    • Just an average joe

      I suppose the video will explain it. I didn’t watch it at all but I assume they mean the tax payers again. However I could see a big shift going one of two ways.
      1. Gov’t bails out the students, then gets out of the backing of student loan business. Making more young adults go to a Vo-Tech and learn a real job. I think that would be good overall.
      2. Free college and compulsory for everyone. Bad, Bad, news IMO.

      • Arrow

        Probably a safe assumption. Doesn’t concern me, but would suck for those engaged in the voluntary servitude. As for the shift, young adults would certainly be better off by learning something useful instead of exposing themselves to more indoctrination. There will be a bit of both, but I expect more to choose the practical approach since by all measures the house of cards is coming down. We shall see.