Perhaps the White House wants to troll the American people just before its chief occupant, President Barack Obama, makes his (thankful) exit in the next few months.
The White House concluded in a new study that student loan debt actually helps, not hurts, the United States economy. That’s right. If you want to help the economy then go to school for gender studies, get a $100,000 loan and then graduate deeply in debt.
According to a new report titled “Student Debt Helps, Not Harms, the U.S. Economy,” the $1.3 trillion in student debt will help grow the U.S. economy because graduates are doing just fine. The White House states they’re the biggest holders of student debt but they are also the highest earners. These are the ones who have student debt loans of more than $100,000.
Instead, the White House notes, it’s the dropouts that are the problem because more than seven million of them are on the verge of of defaulting on their student loans. These dropouts, the report says, have an average student debt loan of $10,000 or less.
Researchers then compared the two in several areas. For instance, it claimed that Americans with high student debt balances were more likely to own a home than those with low student debt balances.
“Student loan debt is an investment in human capital that typically pays off through higher lifetime earnings and increase productivity,” the report said. “The main macroeconomic impact of student loans, particularly over the longer run, is via the boost to output and productivity form a more educated workforce.”
Uh huh…that is why those indebted by tens of thousands of dollars are delaying adulthood by not getting married, not having children, not buying a house and not even moving out of their parents home.
ZeroHedge was right: “When you want to get your message across, you sponsor a study that is 100% guaranteed to come to the conclusion you demanded from the outset.”
If this is the kind of study that taxpayers have to pay money for then what a waste!
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