The GAO says that the Department of Education’s “income-driven repayment” plans for federal student loans will rack up “government costs of $74 billion” in the upcoming fiscal year.
More than 8 million borrowers have defaulted on their student loans. For millions more, the financial burden of those loans has altered lives, relationships, even retirements. Here’s a look at how people are coping with their debt.
Corinthian Colleges was one of the world’s largest for-profit college chains – and one of the biggest moneymakers. But even in a boom-and-bust business, its closure and bankruptcy in 2015 was a remarkable collapse.
Just about everyone involved in the student loan industry these days – banks, private investors and even the federal government – makes money off the borrowers. On this episode of Reveal, we explore how this happened and who’s profiting from student debt.