When they say the “federal reserve is loaning the banks money at such and such a rate” they are actually printing that money out of nothing. This is the big scandal they do not want the American people to understand. There IS NO VAULT with the money in it. It is simply a computer entry into the bank and then again another computer entry into the School you are going to and “the proceeds” after tuition, etc to YOUR account. NOWHERE is this money a tangible thing. It is created out of nowhere.
This is why many people are wanting to shut the Fed down. It is also a central bank that’s “member banks” own stock in. Very little of it is Federal, although the American people get to pick the interest tab up. This is why the Banker classes will do anything to keep this scam going, because they win no matter what happens.
“The U.S. Department of Education is forecast to generate $127 billion in profit over the next decade from lending to college students and their families, according to the Congressional Budget Office.
Beginning in the 2015-16 academic year, students and their families are forecast to pay more to borrow from the department than they did prior to last summer’s new student loan law, which set student loan interest rates based on the U.S. government’s costs to borrow. The higher costs for borrowers would arrive at least a year sooner than previously predicted.”* The Young Turks hosts Cenk Uygur and Ana Kasparian break it down.
*Read more here from Shahien Nasiripour / The Huffington Post: