THE STUDENT LOAN SONG words lyrics best top popular favorite trending sing along song songs
Video & Performance Copyright (c) 2016 by Charles E. Szabo, BMI
SONG SONGS SING-ALONG CHARLES CHUCK SZABO BEST POPULAR FAVORITE WORDS LYRICS TRENDING TOP TEN 10 20
THE STUDENT LOAN SONG
When you go off to college
You think you’ve got it made
The government will offer
Their fine financial aid.
You don’t know what you’re getting
You’ll drown in fees and rates.
But your future’s bright before you
And so you take the bait.
STUDENT LOANS, STUDENT LOANS
Paying them just puts my back against a wall.
STUDENT LOANS, STUDENT LOANS
How I wish I never took them out at all.
You’d pay your way through college
But can’t afford the cost.
There’s no fair living wages
So too much time is lost.
The job prospects are lousy
For entry level grads.
You’re drowning in your payments
While searching through the ads.
Copyright © 2016 by Charles Szabo
Below from Wiki:
The Economist reported in June 2014 that U.S. student loan debt exceeded $1.2 trillion, with over 7 million debtors in default. Public universities increased their fees by a total of 27% over the five years ending in 2012, or 20% adjusted for inflation. Public university students paid an average of almost $8,400 annually for in-state tuition, with out-of-state students paying more than $19,000. For two decades ending in 2012, college costs rose 1.6% more than inflation each year. Government funding per student fell 27% between 2007 and 2012. Student enrollments rose from 15.2 million in 1999 to 20.4 million in 2011, but fell 2% in 2012. Bloomberg reported in July 2014 that: “The biggest growth in the program came in the past decade, as student debt rose an average of 14 percent a year, to $966 billion in 2012 from $364 billion in 2004, according to New York Fed data.”
There were around 37 million student loan borrowers with outstanding student loans in 2013. According to the Federal Reserve Bank of New York, outstanding student loan debt in the United States lies between $902 Billion and $1 Trillion with around $864 Billion in Federal student loan debt. As of Quarter 1 in 2012, the average student loan balance for all age groups is $24,301. About one-quarter of borrowers owe more than $28,000; 10% of borrowers owe more than $54,000; 3% owe more than $100,000; and less than 1%, or 167,000 people, owe more than $200,000. Of the 37 million borrowers who have outstanding student loan balances, 14%, or about 5.4 million borrowers, have at least one past due student loan account. For every student loan borrower who defaults, at least two more borrowers become delinquent without default. In 2010 for the first time ever, student loan debt exceeded credit card debt and in 2011 student debt surpassed auto loans (both of which were decreasing). According to Mark Kantrowitz, publisher of FinAid.org, student loan debt is growing by $3,000 per second. According to a report by The Institute for College Access and Success the average debt from those who graduated in 2013 topped $30,000 in six states and was only below $20,000 in one state. Data released by the Federal Reserve Bank of New York showed that in the fourth quarter of 2014 delinquency rates for students dipped to the point where approximately one in nine student loans is past due. As of 2015 over half of outstanding student loans are in deferral, delinquency or default. Rising student loan debt is exacerbating wealth inequality.
SEE ALSO: LOANS FEDERAL LOANS STUDENT LOANS COLLEGE UNIVERSITY LOANS FAFSA, PELL GRANT, FEDERAL DIRECT STUDENT LOANS, WORK STUDY, BANKRUPTCY, BORROW, BORROWING, SCHOOL LOANS,