It is an eye-popping number: $435 billion. That is the amount of money the federal government can expect to lose on its $1.37 trillion student loan portfolio, according to an analysis consultants performed for the Department of Education. That analysis anticipates borrowers paying back $935 billion in principal and interest on their student loans, leaving $435 billion for taxpayers to absorb. So what, exactly, does $435 billion represent? The Wall Street Journal, which recently...
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