Monday, April 10, 2017

The States finally step in

Loans 'Designed to Fail': States Say Navient Preyed on Students

From the outset, the lender knew that many borrowers would be unable to repay, government lawyers say, but it still made the loans, ensnaring students in debt traps that have dogged them for more than a decade.

While these risky loans were a bad deal for students, they were a boon for Sallie Mae. The private loans were — as Sallie Mae itself put it — a "baited hook" that the lender used to reel in more federally guaranteed loans, according to an internal strategy memo cited in the Illinois lawsuit.

Here's hoping the states have better luck than borrowers have to date.

Friday, April 7, 2017

March 2017

Meh.

http://www.bls.gov/news.release/empsit.t17.htm

Not seasonally adjustedMarch20161,115,600
January20171,118,800
February20171,117,900
March20171,117,2001,600
Seasonally adjustedMarch20161,119,600
January20171,125,800
February20171,123,300
March20171,121,8002,200
Change from Feb-17 to
Mar-17
-1,500