Student loan debt in the United States stands at about $1.8 Trillion. Analysis of the most recent Department of Education data, private student loan estimates, and also the most recent state budget data (2017) compiled by the National Association of State Budget Officers reveals that in 18 states, the citizens owe more in student loan debt than the entire state budget (both federal and state spending).

As a percentage, the states of Georgia (169%), Florida (148%), Missouri (141%), South Carolina (135%), New Hampshire (131%), and North Carolina (126%) are particularly alarming, but the fact that the citizens of any state


Revised 2/26 **

Student loan debt in the United States stands at about $1.8 Trillion. Analysis of the most recent Department of Education data, and also the most recent state budget data (2017) compiled by the National Association of State Budget Officers (and assuming a uniform distribution of private student debt across the population) reveals that in 19 states of the country, the citizens of those states owe more in student loan debt than the entire budgets of those states (both federal and state spending).

Interestingly, it was found that the majority of those states (13 of 19) voted for Donald Trump in…


Before the election, Joe Biden and the media had tens of millions of distressed student loan borrowers believing that he was going to eliminate their student loan debt- perhaps by executive order- on day one.

Since winning the presidency, however, he (and the corporate press covering him) are singing a very different tune. Gone are the claims in the press that Biden will cancel all undergraduate debt for people who attended public universities or Historically Black Colleges and Universities (HBCU’s). Biden is also going out of his way to kill expectations of him cancelling loans by executive order, as leading…


They’ve been tricked into defending the worst big-government lending scam in U.S. History.

While many conservatives point to election fraud to explain why republicans lost both the Presidency and the Senate in the recent election, there is one issue that would have turned these close losses into landslide victories for them, even despite alleged vote tampering at the margins: Student Loans.

The federal student loan system has become something that no conservative should support. In the absence of constitutionally enshrined bankruptcy protections, statutes of limitations, and other fundamental consumer protections (removed by Congress), The entire lending industry- especially the Department…


Original Press Release

During the presidential primary campaign, Joe Biden said that he was endorsing Senator Elizabeth Warren’s bankruptcy plan, and his campaign dutifully copied and pasted key bullet points from her bankruptcy platform into theirs. The most important element of Senator Warren’s bankruptcy agenda, however, was her pledge to issue an executive order on Day One calling on the Department of Education to stop opposing federal student loan borrowers in bankruptcy court. Given this, it is fair to say that Mr. Biden has an obligation to issue this order on Day One as President.

As the nation’s oldest and…


Trump’s last official act in office should be cancelling all federally owned student loans by executive order

As many feared- and some probably hoped- it appears that Trump’s tenure as President its not going to end well. Trump will be leaving office in a storm of violent controversy not seen before in our nation’s history, and in his wake will be a looming economic catastrophy brought on by the pandemic. At the forefront of this new reality is the student loan problem.

There are 44 million federal student loan borrowers in the country carrying about $1.5 Trillion in federal student…


A common popular belief about student loans is that they are a young person’s problem. We assume that, by and large, most borrowers are able to have their loans repaid by their mid-30’s. Sure, there may be a few stragglers who take until their 40’s or even beyond to repay their loans, but the conventional wisdom is that people 50 or older who haven’t yet been able to repay their loans are the outliers. The exception to the rule.

Well, it turns out that this is completely wrong.

This is Department of Education Data for the fourth quarter of 2020…


In opposing student loan cancellation, Rowe wags his finger at the 44 million people being crushed by the worst big-government college-enriching lending scam in U.S. History. This serves to defend and perpetuate it.

Mike Rowe has never had much to say about the student loan system in this country. For years he has advised people to not go to college, and pointed to the hyper-inflationary, predatory student loan system as a good reason why, and that has been the extent of it. In recent months, however, Rowe has strongly opposed student loan cancellation as a stimulus measure. Rowe paints student…


Trillions would be injected into the economy. No appropriation required. Nothing added to the national debt.

There are 44 million federal student loan borrowers in the country carrying about $1.5 Trillion in federal student loan debt. According to Education Secretary Betsy DeVos last year, 75% of these people were either unable to make payments on their loans, or were paying, but their balances were going up. Trump appointee Wayne Johnson, who ran the federal lending system until recently, said that this was closer to 80% just before COVID-19 hit. …


The next President can and must erase them, start over.

There are 44 million federal student loan borrowers in the country carrying about $1.5 Trillion in federal student loan debt. According to Education Secretary Betsy DeVos last year, 75% of these people were either unable to make payments on their loans, or were paying, but their balances were going up. Trump appointee Wayne Johnson, who ran the federal lending system under DeVos, said that this was closer to 80% just before covid-19 hit. Also, we now know that the class of 2004 are defaulting on their loans 40% of the…

Alan Collinge

I am Founder of StudentLoanJustice.Org, author of The Student Loan Scam (Beacon Press), and creator of the petition Change.Org/CancelStudentLoans

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