Why the dental practitioner with $1 million in pupil financial obligation spells difficulty for federal loan programs

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Why the dental practitioner with $1 million in pupil financial obligation spells difficulty for federal loan programs

Adam Looney

Joseph A. Pechman Senior Fellow – Financial Studies, Urban-Brookings Tax Policy Center

A recently available Wall Street Journal article informs a startling story of the University of Southern Ca dental college graduate whom owes a lot more than a million bucks in pupil debt—a balance he can never ever completely repay. While he could be exceptional—only 101 individuals away from 41 million student-loan borrowers owe a lot more than a million bucks—his situation highlights the flaws in a student-loan system that provides graduate pupils and parents limitless use of federal loans and generous payment plans. The effect: Well-endowed universities and well-paid, well-educated borrowers benefit at the cost of taxpayers much less students that are well-off.