The bottom line is the college loan system needs an overhaul.
As just one example, the founders of Collegeloan.com made close to a billion dollars each prior to new laws passed in 2008. The founders have since left daily roles but themselves and current execs are still raking in money off student load debt.
This is just one of the founders houses that has been on market for 4+ years. This house was paid for off the false hopes and high interest payment loans the schlepped to kids who have long since graduated and still paying off debt.
https://www.sandiegoreader.com/news/2013/feb/20/unreal-casa-...
https://www.zillow.com/homedetails/14385-Cypress-Pt-Poway-CA...
Another house he sold in Vegas.
https://www.realtor.com/news/unique-homes/ceo-and-poker-pro-...
He also likes million dollar buy in poker. How many interest payments did kids make for him to afford this?
http://www.pokerlistings.com/cary-katz-wsop-big-one-for-one-...
Do some research... this is just one company that was in the upper top 10 prior to 2008 shake up. Many more made far more of the backs of kids in this country. After the shake up the companies adjusted and went back to lobbying to gain back the insane profits they once saw. Obviously by the headline we are back to all time highs.
As just one example, the founders of Collegeloan.com made close to a billion dollars each prior to new laws passed in 2008. The founders have since left daily roles but themselves and current execs are still raking in money off student load debt.
This is just one of the founders houses that has been on market for 4+ years. This house was paid for off the false hopes and high interest payment loans the schlepped to kids who have long since graduated and still paying off debt.
https://www.sandiegoreader.com/news/2013/feb/20/unreal-casa-...
https://www.zillow.com/homedetails/14385-Cypress-Pt-Poway-CA...
Another house he sold in Vegas.
https://www.realtor.com/news/unique-homes/ceo-and-poker-pro-...
He also likes million dollar buy in poker. How many interest payments did kids make for him to afford this?
http://www.pokerlistings.com/cary-katz-wsop-big-one-for-one-...
Do some research... this is just one company that was in the upper top 10 prior to 2008 shake up. Many more made far more of the backs of kids in this country. After the shake up the companies adjusted and went back to lobbying to gain back the insane profits they once saw. Obviously by the headline we are back to all time highs.