Most of the loans probably weren't meant to be paid back. How it works is when the government gives out loans, the people who take them out aren't usually capable of paying them back...BUT the person who sells the benefit (education, housing, etc.) makes a lot of money because of it. So the wealth of the College, or home seller increases, while the the TAXPAYER gets stuck with the bill......And the people who enriched themselves, (The sellers), "DONATE" to the politicians who made up the loans.
Most of the loans probably weren't meant to be paid back. How it works is when the government gives out loans, the people who take them out aren't usually capable of paying them back...BUT the person who sells the benefit (education, housing, etc.) makes a lot of money because of it. So the wealth of the College, or home seller increases, while the the TAXPAYER gets stuck with the bill......And the people who enriched themselves, (The sellers), "DONATE" to the politicians who made up the loans.