Obama Administration Subjected a Whole Generation to Mountains of Debt (Guest: Sandy Duckett)
After Obama opened the floodgates on student loans, young Americans earned useless degrees while accruing up to $100,000 of debt. Now, they cannot even find jobs to pay off the debt.
In 2010, the Obama administration took over financial aid for college education and rolled it into Obama’s health care bill. This made financial aid incredibly easy for students to acquire. These students jumped on the student loans, but are now finding themselves trapped under a mountain of debt.
Offering massive amounts of financial aid left congress in need to recoup the money. Congress decided to increase the interest payments on these student loans, leaving many young Americans with zero financial stability.