While 28 million out of 43 million college loan borrowers are being forced to resume repayments this month, the Biden administration is continuing to protect the financial interests behind the fleecing of the public by the student loan system.
The banks, hedge funds, investment companies and other Wall Street parasites are raking in billions of dollars in profits from the immiseration of tens of millions of student loan borrowers and their families perhaps a third of the US population in all.
Americans owe more than $1 trillion in student debt and some members of the Millennial and Gen Z wonder whether they'll ever pay off their loans. This week, we take a step back to see how we got here and how student debt relates to trust in democratic institutions.