Student Loans
Consumer Credit Rises As Uncle Sam Funds More Subprime Car And Student Loans; Revolving Credit Drops
Submitted by Tyler Durden on 11/07/2011 16:51 -0500
Superficially, it was all smiles following the announcement of the September consumer credit number which rose by $7.4 billion on a seasonally adjusted basis, on expectations of $5.2 billion (and down from the revised $9.7 billion borrowed in August). However a quick look under the surface reveals the same old trickery we have grown to know and love: revolving credit declined by $627 million, while the entire growth was in Non-revolving borrowing, which rose by $8 billion. What does non-revolving credit fund? Why auto loans (read subprime GM car loans) and student loans of course, the latter being the very same loans which even the president now is saying have to be reduced. As for the former, the G.19 now no longer even bother to report such data as Loan to Value, Interest Rates, Maturity and Amount Financed: analysts are left to imagine the best possible outcome. And just to confirm where consumer credit in 2011 has come from, of the $32 billion in credit issued YTD, $89.7 billion of it comes from the US government. The only other positive source of credit in 2011, for the whopping amount of $1 billion are savings institutions. Every other traditional source of credit is now... a drain.
As Student Loans Hit All Time Record, One High School Valedictorian "Gets It"
Submitted by Tyler Durden on 09/18/2011 12:45 -0500
This it NOT what you would expect from a traditional valedictorian speech. Hopefully people, especially young people, are starting to wake up to just how corrupt and broken at its core, the US educational system is. Alas, tangentially, as the following data from Stone McCarthy indicates, there is little danger that the revelations captured in this video are anywhere near widespread, courtesy of record after record rise in the next big bubble: student loan debt, which is nothing but even more voluntary indentured servitude in hopes that the latest piece of paper certifying one is "smart" will make one's resume more attractive to potential employers. Alas, if they only knew...
UPDATE on Police State | “SWAT” Team Breaks Down Door, Detains Man for Wife’s Defaulted Student Loans
Submitted by 4closureFraud on 06/09/2011 10:28 -0500Post Includes Police State Search Warrant on Student Loan “Default”
Police State | SWAT Team Breaks Down Door, Detains Man for Wife’s Defaulted Student Loans
Submitted by 4closureFraud on 06/08/2011 13:14 -0500We are in real trouble here folks. I am afraid that we are beyond the point of no return…
(a) Is liquidity okay? – (b) A “fun” end to Student Loans?
Submitted by Bruce Krasting on 01/14/2011 19:43 -0500Twofer.
