Obama Student Loan Policy Reaping $51 Billion Profit

6963692378_717eebbeb1

Student loan rates are set to increase this year and Obama’s student loan policy is reaping a $51 Billion Profit, according to The Huffington Post.  This $51 Billion profit is a sum greater than the earnings of the nation’s most profitable companies and roughly equal to the combined net income of the four largest U.S. banks by assets.

The four most profitable companies in the nation recently reported, $44.9 billion in net income last year. Apple Inc. recorded a $41.7 billion profit in its 2012 fiscal year, which ended in September, while Chevron Corp. reported $26.2 billion in earnings last year. JPMorgan Chase, Bank of America, Citigroup and Wells Fargo reported a combined $51.9 billion in profit last year.  Student loans are predicted to interfere with the economic prosperity of borrowers and their families.

Read article 

Picture by Occupy* Posters

Comments

comments

1 Comment
  1. fawad_noor_420@yahoo.com'
    Fawd Noor 4 years ago

    That post are good and informative like as to they are little closer to understanding the root causes of why military suicide is rising so fast. profit is a sum greater than the earnings of the nation’s most profitable companies and roughly equal to the combined net income of the four largest.
    Thanks……………///
    Education Information

Leave a reply

Your email address will not be published. Required fields are marked *

*

We want to hear from you!

We're here to serve you. Just send us an email and we'll get back to you, asap.

Sending

©[2015] Latinos in Tech Innovation & Social Media (#LATISM)

or

Log in with your credentials

Forgot your details?