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What's bugging me today the next great meltdown.
College loans President Obama -- a federal takeover of that business because those greedy banks can't be trusted.
But banks have to turn a profit where's the -- spend your money.
So look at this outstanding government loans have soared to almost a trillion dollars that's up more than 400 billion dollars since a late.
And the default rate on those loans is climbing it's now over 11%.
Ninety days late or -- higher than even for credit cards.
And the feds admit the loan default rate.
That's likely to double to 22%.
After grace -- deferral run out now credit card interest rates often run 20% or more to cover the risk they won't get paid back.
College loans are even riskier get there -- afraid like 3% 6%.
Almost seven million people who -- -- government -- since President Obama took office without any credit checks or background check with no incentive to get in the -- say engineering instead of fine arts without even making sure the takers.
Are going to college at all so fraud is up as well almost one point five.
Billion dollars in improper loan payments last year including payments at 34000.
Operating and crime rings.
So tweet me -- college loans the next big it meltdown.
Your turn to weigh in -- -- -- and your comments coming up.
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