Student Loan Debt Owed to Federal Government Up 463% Under Obama

Since President Barack Obama took office in 2009, the amount of outstanding federal student loan debt owed to the government has skyrocketed, increasing by 463 percent. The balance owed currently stands at $674,580,000,000.00 compared to $119,803,000,000.00, where it stood in January 2009, according to the Financial Management Service’s latest monthly. Direct federal student loan spending began to rise rapidly in fiscal year 2010, when the Health Care and Education Reconciliation Act – one Read more […]