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the federal government under Obama nationalized the Student Loan program there really are no more private student loan businesses to the extent they even exist they are effectively subsidiaries of the Department of Education now that means you and your children and your grandchildren are handing out student loans and the federal government meaning you are on the hook right now for 1.6 trillion dollars in student loans 1.6 trillion dollars and the federal government does such a fantastic job at managing money and this student loan welfare thatamp;#39;s what it is itamp;#39;s not a forgiveness itamp;#39;s welfare can cost anywhere from 400 billion dollars to a trillion dollars people who took out loans for school and yet you donamp;#39;t have to spend that money for school you can spend that money on cards you can spend that money on vacations you can go to Las Vegas and gamble you can do whatever you want with that money thereamp;#39;s no requirement that you actually spend