Obama Administration Reaps $51 Billion Profit From Student Debt Loans

The Obama administration is reaping a record $51 billion profit from student debt loans, according to a Congressional Budget Office report made public last week — and reported by the Huffington Post.

The report says that the CBO increased its 2013 "fiscal year profit forecast" for the Department of Education by 43% — to $50.6 billion — from its previous estimate of $35.5 billion. Overall, the Department of Education has made $120 billion in profit from student debt loans — over the last five years.  

This is painfully ironic, giving that Obama won 67% of the millennial vote in 2012. It gets better; the Department of Education's profits from indebted Obama-lovin' millennials are even greater than Exxon's ($44.9 billion) and Apple's ($41.7 billion) — two companies continually demonized by our demographic for supposedly killing the environment and enslaving people.  

Even more saddening is that most news coverage has been dedicated to the Benghazi, AP and IRS scandals. Heck, we've even been paying more attention to Angelina Jolie and the alleged crack-smoking Canadian mayor; all arguably relevant issues that however don't hit our pocketbooks. 

Thoughts? Get me on Twitter at @marin_alex

How much do you trust the information in this article?

MORE FROM

Amid new revelations, here’s what we’ve learned about the Russian lawyer who met with Trump Jr.

The picture of Natalia Veselnitskaya is coming into clearer focus.

Republican Senator urges whoever leaked Russia/Sessions phone calls to release whole conversation

Sen. Chuck Grassley wants the person who leaked intelligence about Attorney General Jeff Sessions and Russian ambassador Sergey Kislyak to come forward with more information.

Donald Trump Jr. and Paul Manafort now to testify before Senate committee behind closed doors

Trump Jr. and Manafort have avoided a subpoena and will testify behind closed doors — for now.

Hope Hicks reportedly tried to rein Trump in during explosive ‘Times’ interview. It didn’t work.

The low-profile Trump Whisperer is one of the few in the president's orbit to enjoy job security.

Scaramucci once asked Obama if he’d be softer on Wall Street. It didn’t end well.

The exchange came during a CNBC town hall on the financial crisis, two years into Obama’s presidency.

Trump blasts Hilary Clinton, Comey and ‘Amazon Washington Post’ in tweet storm

He also defended Don Jr. and called Democrats "obstructionists" with "no ideas."

Amid new revelations, here’s what we’ve learned about the Russian lawyer who met with Trump Jr.

The picture of Natalia Veselnitskaya is coming into clearer focus.

Republican Senator urges whoever leaked Russia/Sessions phone calls to release whole conversation

Sen. Chuck Grassley wants the person who leaked intelligence about Attorney General Jeff Sessions and Russian ambassador Sergey Kislyak to come forward with more information.

Donald Trump Jr. and Paul Manafort now to testify before Senate committee behind closed doors

Trump Jr. and Manafort have avoided a subpoena and will testify behind closed doors — for now.

Hope Hicks reportedly tried to rein Trump in during explosive ‘Times’ interview. It didn’t work.

The low-profile Trump Whisperer is one of the few in the president's orbit to enjoy job security.

Scaramucci once asked Obama if he’d be softer on Wall Street. It didn’t end well.

The exchange came during a CNBC town hall on the financial crisis, two years into Obama’s presidency.

Trump blasts Hilary Clinton, Comey and ‘Amazon Washington Post’ in tweet storm

He also defended Don Jr. and called Democrats "obstructionists" with "no ideas."