Student loans are going to double as of July 2013. They are going to double because congress and the president said they would double. These are loans that can not be expunged for any reason and the IRS monitor’s arrears payments.
Much of the money held in the student loan process is held by private banks. These are banks the government lends money to at below 1 percent. Yet, student loans are set to go to 6.8 percent. Tell me there is not something wrong with this picture.
It is simple, the argument could be made that Wall Street owns the national congress and the president of these United States. You only have to look at campaign donations to see what kind of investment Wall Street is making in the Congress and Executive Branch.