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n4807g

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n4807g

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Monday, 09/26/2016 7:24:29 AM

Monday, September 26, 2016 7:24:29 AM

Post# of 122337
Sheila Bair Called the Financial Crisis. Here’s Her New Nightmare
https://www.bloomberg.com/features/2016-sheila-bair-student-debt/

“A bank would never get away with what the Department of Education is doing.”

LOL....

Bair saw a lot about student loans and higher education that reminded her of the dodgy pre-crisis era mortgage market.



LOL.....


Like the pre-crisis mortgage brokers who made money giving loans to borrowers who couldn’t afford them, the U.S. Department of Education, which serves as the predominant lender to students, doesn’t check whether borrowers will be able to repay their debt.



Oh...but haven't we been told repeatedly that the way to financial security is a college degree. So why is there an issue with repaying loans?

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