Here is another example why ObamaCare can never work as advertised.
The government has taken over the student loan business. And it is costly.
Furthermore,taxpayers will put up $100 Billion as a start.
The problem here is that private lenders did a better job of evaluating risk and collecting bad debt, than the government. Any estimates of “savings” by the government is a fantasy.
Government figures, for example, never have those the private lenders include, such as two-year college programs with much higher default rates. What is more, the government has a poor service record among student borrowers.
In fact, government proposals are now on the track to eventually forgive whatever loans students never do pay back.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.
No comments:
Post a Comment