FOR IMMEDIATE RELEASE:

April 15, 2014

Contact: Colin Seeberger, colin.seeberger@younginvincibles.org, 214.223.2913

Young Invincibles’ Statement on New CBO Report Finding US Will Make $127 Billion In Profit Off of the Student Loan Program

Student Loan Borrowers Hold Over $1.2 Trillion in Debt as Tuition Costs Continue to Soar

[WASHINGTON]—Yesterday, the Congressional Budget Office released its latest 10-year economic outlook, which found that the federal student loan program will generate $16.2 billion in additional revenues for the government in the current fiscal year and $127 billion over the next 10 years.

Jen Mishory, Young Invincibles’ Executive Director, released the following statement on the new report:

“With borrowers already struggling under mounting student loan debt, the last thing the government should do is treat our young people like cash cows and earn hundreds of billions of dollars off this generation. The CBO report shows that the government is profiting off students at a time when tuition and debt levels are skyrocketing. Borrowers are being forced to choose between paying student loans and making major life purchases like buying a car or a home. Enough is enough. Young people want to contribute to the economy, but policies like this one make it more difficult to afford college and earn a decent living.”

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Young Invincibles is a national organization committed to amplifying the voices of young adults, ages 18 to 34, and expanding economic opportunity for our generation. Young Invincibles ensures that young adults are represented in today’s most pressing societal debates through cutting-edge policy research and analysis, and innovative campaigns designed to educate, inform and mobilize our generation to change the status quo. Follow us on Twitter at @YI_Care.