We are hearing more and more about the financial burden students face after graduation. The government under Pres. Obama’s direction, pen and phone in hand, has attempted to alleviate the problem. Instead it is adding to the national debit (+5%) and student debit is increasing ($1.2+trillion).

Xiasumi School Festival by Kenzo Gateaux / oyasumi, on Flickr

Few people realize the new Obama student debt plan aggravates the problems. You can see the trend in a document by the Institute for College Access & Success. A small problem has turned into one too big to fail… and we tax payers are on the hook for the money. Obama guaranteed the bank loans (90% are now government backed). This is expected by numerous authorities to cost tax payers hundreds of billions per year. To learn more about what was actually done and is happening see: Heritage Foundation.  Continue reading →