Read More »"/> Read More »"/> The U.S. Department of Education’s $1 Trillion Debt Milestone | MyGovCost | Government Cost Calculator

The U.S. Department of Education’s $1 Trillion Debt Milestone


Thursday July 6th, 2017   •   Posted by Craig Eyermann at 11:02am PDT   •  

72774473 - trillion, 3d rendering, traffic sign According to the U.S. Treasury Department, the U.S. Department of Education has now cumulatively borrowed over one trillion dollars from the public for the purpose of funding its Federal Direct Student Loan program since January 2009.

Political Calculations’ charted the history of the Education Department’s borrowing to support its student loan business.

Between January 2009 and May 2017, the total public debt outstanding of the U.S. government increased by over 9.2 trillion dollars. Since $1 trillion of that borrowed money went to fund student loans, it accounts for 10.8% of the increase of the national debt over the last eight years.

Getting out of its money losing student loan business should be a top priority at the U.S. Department of Education.




Facebook Twitter Youtube

Search

amazon.com
Support the Independent Institute when you shop on Amazon with the AmazonSmile program. Every time you make a purchase, 0.5% will be donated to Independent on your behalf, at no extra cost to you. Just visit smile.amazon.com, log in using your usual Amazon account details, and select the Independent Institute as your charity.

Archives

July 2017
S M T W T F S
 1
2345678
9101112131415
16171819202122
23242526272829
3031