Here’s an uncomfortable fact that you probably don’t want to know: Student loan debt in America is now over $1.3 TRILLION.
Yes, you read that right.
And it’s bigger than all credit card debt combined.
The millennials have been conned by banks, universities, (and especially the government) to take out student loans.
Unfortunately, they can’t pay them back.
According to Wikipedia, the average student from the class of 2016 has $37,172 in student loans.
When you add to the fact that most of these millennials can’t find a decent paying job, the chances of them paying back their loans decreases.
It gets worse.
Student loans (under provisions mandated by the Clinton administration) are non-forgivable…even in bankruptcy.
That means they’ve become slaves to these loans for life.
So, while these “storm clouds of peak stupidity” gather over the heads of millennials, the nightmare of a $1.3 Trillion default is waiting in the wings.
This is not a “crisis in the making,” it’s a reality.
Here’s the problem.
Our so-called lawmakers in DC (who created this monster) aren’t going to fix this mess anytime soon.
Unfortunately, they’ll find a way to dump this problem onto the taxpayers.
That ain’t right.
Don’t get me wrong. I believe in education.
But today’s universities have become a joke.
Instead of handing out worthless degrees for “higher education” they should be focusing on, what I call “HIRE EDUCATION.”
We should be educating our kids on how to be productive and think for themselves.
And we should teach them how to handle money…instead of getting in debt.
In the long run, they’re the ones who will feel the long-term effect of this massive debt bubble.
Our August and September issue covers this in detail.
Get exclusive access to it now (HERE).
Your kids will thank you later.