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

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

Adam Looney

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

A recently available Wall Street Journal article informs a startling story of the University of Southern Ca dental college graduate whom owes significantly more than a million bucks in pupil debt—a balance he’ll never ever completely repay. As he’s exceptional—only 101 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 usage of federal loans and nice 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 “Why the dental practitioner with $1 million in pupil debt spells difficulty for federal loan programs”