Jun 24, 2013
What institution made more profits in 2012 than ExxonMobil? The U.S. government, that’s who! And it made that profit on the loans that college students have to take out.
In 2012 ExxonMobil made 45 billion dollars in profits (roughly 123 million per DAY) but the federal government made more – 50 billion. The Obama administration figures about 18 cents of profit for every dollar it lends to students.
Students, whether they graduate or not, whether they get a job or not, are paying back loans at one of the highest rates of interest for borrowers in the country. What a great deal for a government lying about huge amounts of debt!