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AI prompt: what percent of student loans that have not yet been paid off are more than 20 years old?
The number of seniors still paying off this debt is mind-boggling.
One must assume that third generation Somalians living in Minnesota have also figured out this scam. The goal would be, of course, to die before paying off the loan, and apparently after 20 to 25 years, the loan is written off regardless.
This was not a minor bookkeping issue. CNBC says more than 42 million Americans have student debt -- that's more than 10% of the US population -- totaling $1.6 trillion.
That amount of student debt -- $1.6 trillion -- divided among 42 million Americans averages less than $40,000, the cost of a brand new automobile which generally are bought with a loan for six years or less.
One can assume Judge Boasberg will issue a "cease and desist" order with regard to Trump's executive order.
If so, the Department of Education simply needs to enforce existing rules and regulations, something that has not been done for decades.
I wonder if the IRS has similar loan programs?
