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

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 current Wall Street Journal article informs a startling story of a University of Southern Ca school that is dental whom owes a lot more than a million dollars in pupil debt—a balance he’ll never completely repay. While he could be exceptional—only 101 individuals away from 41 million student-loan borrowers owe significantly more than a million bucks—his situation highlights the flaws in a student-loan system that provides graduate pupils and parents limitless usage of federal loans and good payment plans. (more…)