As President Joe Biden considers forgiving $10,000 in student debt per borrower and ending tuition for many students at public colleges, it is worth noting that college graduates already have not paid $435 billion back to the federal government.
That’s right, of the government’s $1.4 trillion student loan portfolio, almost one-third is unpaid.
That $435 billion is compared to the $535 billion that private lenders lost on subprime mortgages during the 2008 financial crisis.
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