Student loans

The first student loan payment of $400 billion was announced today and this is only about one forth of what is expected to be needed to offset student debt. That is enough money to build a $400,000 house for one million vets on this Veterans Day or to give every K-12 teacher in the country a $100,000 bonus. It could pay for 4 million full four year college scholarships or my favorite $8,000 to every one receiving social security retirement benefits. To make everyone feel better a poll taken shows how the students plan to spend their savings 73% of anticipated recipients say they expect to spend their debt forgiveness on non-essential items, including travel, dining out and new tech, according to a recent survey from Intelligent.com.