Apple wants you to pay them to read this
(media.communities.win)
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It's not at all the fault of loan companies. It is the fault of one organization, the US Federal government.
Most student loans — about 92%, according to a July 2021 report by MeasureOne, an academic data firm — are owned by the U.S. Department of Education.
The government decided to get into the student loan game. The government decided to give out the bad loans. The government doing so spiked the price of colleges dramatically over the last few years. Therefore, the government had to keep issuing bigger loans, which meant the debts people had became higher and higher. It is 100% a government problem.
That said, I do say that the government should eat it. Not the taxpayers. Start taking from bureaucrat and politician bank accounts, starting with every politician supporting bailing out people with student debt and Department of Education employees and keep going based on seniority in other departments until you've either bankrupted every single government employee or paid back the loans.