Do Debt Services Profit From The $1.2 Trillion Student-Loan Industrial Complex?

 

Recently an informative article about the pipeline economic system of how federal student loans inevitably create federal budget spending for student-debt services was published on  Bloomberg Business. In the article, Janet Lorin explains the Student-Loan Industrial Complex by providing Jody Sofia’s story of defaulting on her loan. The scary part about reading Jody Sofia’s story is the correlation she has with many young Americans and what they face post-graduating college; Life. With the chance of a series of unfortunate events added along with a tenacious student who has aspirations of pursuing multiple degrees, yet carries the burden of student loans, Jody Sofia’s story is a microcosm of many Americans. In fact, Jody Sofia is just one of seven million students who have defaulted on the historical $115 Billion Federal Loan. For more information about Jody Sofia’s story and the debt services who act as data processors and collection agencies to profit off of indebted students, click  here.

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