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Why the dental practitioner with $1 million in pupil financial obligation spells difficulty for federal loan programs

Adam Looney

Joseph A. Pechman Senior Fellow – Financial Studies, Urban-Brookings Tax Policy Center

A current Wall Street Journal article informs a startling tale of the University of Southern Ca dental school graduate whom owes significantly more than a million dollars in pupil debt—a balance he can never ever completely repay. While he’s exceptional—only 101 www.speedyloan.net/payday-loans-az/ individuals away from 41 million student-loan borrowers owe significantly more than a million bucks—his situation highlights the flaws in a student-loan system that provides graduate pupils and parents limitless use of federal loans and large payment plans. The effect: Well-endowed universities and well-paid, well-educated borrowers benefit at the cost of taxpayers much less students that are well-off. Continue reading