The US Department of Education made around 51 Billion dollars in profit off of government student loans, equivalent to the profit of JPMorgan Chase, Bank of America, Citigroup and Wells Fargo combined
Student loan debt is now one of the Obama Administration's biggest cash cows. The government is poised to pocket a record $51 billion profit from federal student loan borrowers this year, according to a report by the Congressional Budget Office. That's roughly 40% higher than the CBO's original forecast in February, $35.5 billion.
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