Washington Proposes $1 Trillion Bailout for Delinquent Student Loans

Washington Proposes $1 Trillion Bailout for Delinquent Student Loans: America’s now-nationalized student loan industry just reached a value of $1 trillion, according to Citigroup, growing at a 20 percent-per-year pace. Since President Obama nationalized the industry (a tacked-on provision of the Obamacare bill), tuition has gone up 25 percent and the three-year default rate is at a record 13.4 percent.