The great student loan writedown

February 14, 2020

Editorial, includes “If banks reported their liabilities using the same fictitious accounting that the federal government does for student loans, they’d be charged with fraud. … CBO estimates that the government will wind up forgiving $167 billion of graduate debt in these plans over the next decade. The write-down for undergraduate loans is less—$40 billion—but the budget gnomes have repeatedly underestimated loan costs only to revise them upward later.” 

Read the full article on: The Wall Street Journal

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