The Patriot Post® · Massive Student Loan Profit

How much money did the federal government profit off student loans this last fiscal year? $41.3 billion. As USA Today observes, “The federal government made enough money on student loans over the last year that, if it wanted, it could provide maximum-level Pell Grants of $5,645 to 7.3 million college students.” Even more remarkable is the fact that this number is $3.6 billion less than what the Feds brought in for FY2012. From USA Today, “[I]t’s a higher profit level than all but two companies in the world: Exxon Mobil cleared $44.9 billion in 2012, and Apple cleared $41.7 billion.” Recall these words from Education Secretary Arne Duncan in July: “It’s actually neither accurate nor fair to characterize the student loan program as making a profit.” On the contrary, this appears to be the government’s most profitable program!