“Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we.” - George W. Bush

All The Best


I want to thank everyone who participated in the Elephant Bar over the past twelve years. We had millions of visitors from all around the World and you were part of it. Over the past dozen years, two or three times a night, I would open my laptop and some of you were always there. I will miss that.

My plans are to continue my work with technology and architecture. You know my interests and thoughts.

At times, things would get a little rough in the EB. To those of you that I may have offended over the years, I apologize. From all of you, I learned and grew.

An elephant never forgets.
Be well.

Deuce, 21 June 2018

Sunday, March 11, 2018

Americans owe over $1.48 trillion in student loan debt - US Universities endowments are over $500 billion - It is time to share the pain

A Look at the Shocking Student Loan Debt Statistics for 2018

Updated: January 24, 2018

Student Loan Hero

It’s 2018 and Americans are more burdened by student loan debt than ever.
You’ve probably heard the statistics: Americans owe over $1.48 trillion in student loan debt, spread out among about 44 million borrowers. That’s about $620 billion more than the total U.S. credit card debt. In fact, the average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year.
But how does this break down at a more granular level? Are student loans being used to attend public or private universities? Is it mostly from four-year or graduate degrees? What percentage of overall graduates carry debt? Are more grads utilizing private student loan consolidation and refinancing?
Let’s take a look.
BONUS: Get a PDF of these statistics to print out, save, or send

General student loan debt facts

First, let’s start with a general picture of the student loan debt landscape. The most recent reports indicate there is:
  • $1.48 trillion in total U.S. student loan debt
  • 44.2 million Americans with student loan debt
  • Student loan delinquency rate of 11.2% (90+ days delinquent or in default)
  • Average monthly student loan payment (for borrower aged 20 to 30 years): $351
  • Median monthly student loan payment (for borrower aged 20 to 30 years): $203
(Data via federalreserve.govWSJ, newyorkfed.org herehere and here and clevelandfed.org here)

Public Service Loan Forgiveness statistics

As of Q3, 2017 (latest available data)
PSLF Borrowers: 739,719*
* – Total number of borrowers who have one or more approved PSLF Employment Certification Forms (ECF)
Note that borrowers are self-identified based on submission of an ECF.
Source: FedLoan Servicing via studentaid.ed.gov

Federal student loan portfolio

(updated for Q2, 2017)
Now let’s dive into how much debt student loan borrowers carry by loan type, term, and more.

Student loan debt statistics by loan program:

Direct Loans$1,003.3 billion32.1 million borrowers
FFEL Loans$320.5 billion15.7 million borrowers
Perkins Loans$7.9 billion2.6 million borrowers
Total (All Federal)$1,331.7 billion42.3 million borrowers

Student loan debt statistics by loan type:

Stafford Subsidized$272.5 billion29.4 million borrowers
Stafford Unsubsidized$449.6 billion27.9 million borrowers
Stafford combined$722.2 billion32.6 million unique recipients
Grad PLUS$55.7 billion1.1 million borrowers
Parent PLUS$81.5 billion3.4 million borrowers
Perkins$7.9 billion2.6 million borrowers
Consolidation$464.5 billion12.0 million borrowers

Student debt statistics by loan status (Direct Loan Program)

Loans in repayment$535.6 billion16.6 million borrowers
Loans in deferment$112.9 billion3.6 million borrowers
Loans in forbearance$100.1 billion2.6 million borrowers
Loans in default$74.9 billion4.3 million borrowers
Loans in grace period$26.2 billion1.4 million borrowers

Student loan statistics by repayment plan (Direct Loan Program)

Level Repayment Plan(10 years or less)$199.6 billion11.15 million borrowers
Level Repayment Plan(greater than 10 years)$74.9 billion1.68 million borrowers
Graduated repayment plan(10 years or less)$75.4 billion2.83 million borrowers
Graduated repayment plan(greater than 10 years)$13.6 billion0.29 million borrowers
Income-Contingent (ICR)$25.5 billion0.61 million borrowers
Income-Based (IBR)$171.6 billion3.01 million borrowers
Pay As You Earn (PAYE)$56.1 billion1.10 million borrowers
Revised Pay As You Earn (REPAYE)$77.0 billion1.52 million borrowers

Student loan debt by servicer

(updated for June 30, 2016)
Great Lakes$115.14.21$28.10.95$24.20.71$36.31.93$12.10.46
Data Source: National Student Loan Data System

More shocking student loan debt statistics

If those numbers weren’t stunning enough, here’s a closer look at how students accumulate debt based on the type of school they attend.
In 2012, 71 percent of students graduating from four-year colleges had student loan debt:
  • Represents 1.3 million students graduating with debt, increase from 1.1 million in 2008
  • 66 percent of graduates from public colleges had loans (average debt of $25,550)
  • 75 percent of graduates from private nonprofit colleges had loans (average debt of $32,300)
  • 88 percent of graduates from for-profit colleges had loans (average debt of $39,950)
Twenty percent of 2012 graduate loans were private
Graduates who received Pell Grants were likely to borrow, and borrow more:
  • 88 percent of graduates who received Pell Grants had student loans in 2012, with an average balance of $31,200
  • 53 percent of those who didn’t receive a Pell Grant had student loan debt and borrowed $4,750 less ($26,450)
(Data via Ticas.org)

Private student loan debt statistics

  • Private student loan debt volume hit $7.8 billion in 2014-15, up from $5.2 billion in 2010-11.
  • From 2011-2012, borrowers didn’t take advantage of federal student loans as much as they could have: 19 percent didn’t take out Stafford loans, 8 percent didn’t apply for federal financial aid, 11 percent applied for federal aid but didn’t take out a Stafford loan, 28 percent had Stafford loans but borrowed less than they were eligible for
  • In 2011-2012, 48 percent of private loan borrowers attended schools that had tuition costs of $10,000 or less
  • Nearly 1.4 million undergraduates borrowed private loans in 2011-2012
(Data via Ticas.org)

Graduate student loan debt

About 40 percent of the $1 trillion student loan debt was used to finance graduate and professional degrees.
Combined undergraduate and graduate debt by degree:
  • MBA = $42,000 (11% of graduate degrees)
  • Master of Education = $50,879 (16%)
  • Master of Science = $50,400 (18%)
  • Master of Arts = $58,539 (8%)
  • Law = $140,616 (4%)
  • Medicine and health sciences = $161,772 (5%)
Clearly, as these student loan debt statistics show, the cost of attending college is becoming a growing burden for a huge portion of Americans.
What are you doing to pay off your debt and ensure you aren’t another statistic? Be sure to let us know how we can help.
(Data via 2012 Newamerica.org study)
Save these statistics for yourself

For press inquiries, please contact press@studentloanhero.com.


  1. No other institutions have pissed away more money colluding on social engineering than US colleges and universities and the US Government Establishment. The combination of these institutions playing with other peoples money has been a societal catastrophe.

    Why should the American taxpayer pick up the tab for MBAs, Masters of Education, Master of Arts, and Law degrees? The combination represents 49% of the debt.

    Cram down the University endowments and let the holders of advanced degrees in business, the arts, education and law place the burden on the recipients and institutional beneficiaries.

  2. When law firms, college endowments, college pension funds and the financial services industry have to start cutting checks to service this debt, along with the students and families with bullshit degrees, we may see a return to sanity in public education and finance.


  3. Exodus from Puerto Rico grows as island struggles to rebound from Hurricane Maria

    There won't be another bout of "Hanging Chads" in Florida. Dems will have the numerical advantage for the foreseeable future.


    Cadet Bone Spur's policy perscription has gifted Florida to the Democrats

    No Testosterone

  4. .

    Higher Education

    The education system in this country is in trouble. Student loan debt is a drag on the economy and it continues to grow by about $100 billion a year. Higher education itself is becoming an hereditary privilege. Employers complain that there are not enough skilled workers available. The US (now rated about 14th in the world) keeps falling behind on a broad range of metrics. The problems with the system are many, political, sociological, economic, and philosophical, and ethical to mention some big ones.

    There is no one solution to the problems but there are many that a case can be made for. They all require a commitment by federal, state, private an public providers, and the public. Chances of fixing the problem in today's politically charged environment are slim to none.

    That there is a benefit to a higher education is backed up by the numbers. However, there are plenty of opportunities for skilled training outside of the traditional academic setting. One problem is attitude. Polls have shown 70% of respondents say that a traditional college education is not necessary for success. Yet, the same 70% say 'their' children are expected and encouraged to get that college education.

    As noted, their is no one solution to the problem; however, just for illustrative purposes had that $1.5 trillion giveaway to the rich on the tax cut instead been used to eliminate student debt it would have provided multiple times the boost to the economy as the cuts and would have eliminated this drag on the economy for a long time.



    1. .

      Problems with a college education in this country are the most obvious; however, they are far from the only ones. Based on testing and surveys among developed countries, the US can education system can only be called mediocre. This is a serious problem for a country that calls itself 'exceptional'.


    2. STUDENTS ! YOUNG and OLD !

      The education system in this country is in trouble.

      The US can education system can only be called mediocre.

      Don't mortgage your future to a failing future.

      Don't be just another sucker.

      Don't leave college with debts trailing you the rest of your life !

      Get a high quality education for almost nothing through:

      Quirk's Qwik Quality College Diploma Mill !

      No human interaction with demanding professors or snow flake students.

      You will be assigned your one and only 'bot-professor and all work is done through your cell phone !

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      We take all credit cards.

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      For our brochure send a stamped self addressed envelope to:

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      Get a four year degree in under a year !

    3. "had that $1.5 trillion giveaway to the rich on the tax cut instead been used to eliminate student debt"


      That's the answer: Feed the monster!

      Other chancellors to receive a bump for the second consecutive year are UC San Francisco's Sam Hawgood (new base salary: $795,675), UCLA's Gene Block ($454,574) and UC San Diego's Pradeep Khosla ($449,204).

      They continue to place among the lowest-paid university leaders when compared with their AAU peers.

    4. .

      Once again, you divert.

      The issue raised was which would be more of a spur to the general economy, tax cut or cut student debt.


  5. Word is that the sanctions and financial restrictions against North Korea are biting deeply into Fund 59, or whatever the right number is, basically Kim Family bank account. Only some months left before it is empty, word is.

    Hence the sudden will to negotiate on Kim Fatso III's part.


  6. Footage of mysterious object above ocean stuns military....DRUDGE


    Hmmmm....way too fast for the Quirk Skimmer, unless he rocketed it up.....small fast skimming the waves....

    1. Hell what do I know....maybe Quirk has acquired the technological skill to put a rocket or jet engine on his ultra-light.

      It is something he would be attracted to do.

    2. Hope he doesn't get his ass shot down again, this time over water and far from Vegas.

  7. FARCE

    Saturday Night Live mocks Mueller's 'Russia collusion' fail - 3/11/18
    Even Trump-hating NBC is warning its viewers that the Special Counsel investigation of charges that the Trump campaign colluded with Russia has become an embarrassment More....

    The Special Counsel investigation of charges that the Trump campaign colluded with Russia to win election has become such an embarrassment that even Trump-hating NBC is mocking the failure to come up with any evidence. Last night’s cold open for Saturday Night Live used the season finale of The Bachelor to express disappointment, and probably to warn its Democrat-heavy audience that the game is up, so it’s time to move on.


  8. There is a solution to the schools. All of them. End public education.

  9. .

    And how exactly would that work?


    1. Easy. Pass taxpayer funded National Day Care until age 18 at which time the kiddies are dumped into society fully capable of supporting themselves.

  10. Better look at Quirk UFOing it -


  11. Leave education up to the parents, townships and states. Make it all tuition based and payment by voucher. The Marxist solution is a failure. Big surprise. Unionized teachers? Who are they unionized against, the kids or the parents?

  12. Imagine, having to look after your own children. What a nightmare!

    Surely, Maxine Waters, Bill Clinton and Barack Obama are far more qualified to dictate education standards.

    1. It takes a village, somebody said.

    2. We have a continuing school funding bond election in a few days.

      I'll go vote to pass it, as I always do.

    3. We homeschooled, but got to pay anyway.

      No doubt some non-citizen is grateful.

    4. Think of it this way - without you, Mexico would be a failed state.

  13. Fauxcohantes pleads the 5th -

    Elizabeth Warren refuses DNA test to prove Native American heritage....DRUDGE

    Heh heh heh

    Nice pic of Fauxco on Drudge in head dress and arrows.....

    1. Fauxco got some easy education money by swearing she was an American Indian.

      It probably qualifies as a felony, but what the hell....

  14. .

    Leave education up to the parents, townships and states. Make it all tuition based and payment by voucher. The Marxist solution is a failure. Big surprise. Unionized teachers? Who are they unionized against, the kids or the parents?

    That sounds like a solution an atheist businessman who's beyond the childbearing age might come up with. The federal government dictates that everyone in the country receives a minimum level of education. They are right to do so. Not only is an educated populace required for a strong economy it is also strategically important. While much of the funding is and should remain at the state and local level the Feds have a role in assuring that educational opportunities aren't determined solely on the basis of economic status. Not doing so would guarantee that you would have a bifurcated education system in the US divided between haves and have nots even worse than we have today.

    The funding problem exists all through the system.

    Home schooling is fine for some, those with the means for the books (and these days access to computers, media, etc.) and parents qualified and interested enough to put in the time. But that leaves out a good chunk of the country. And even when the required factors are there, things can still go wrong. Look at Doug.

    As for the states and localities funding the education on their own, they pretty much do it now. The federal government's share of the education dollar is only about 8%. About 85% comes from state and local sources (which in the end is the people). The other is provided by private sources. And the Fed's cut is the first thing that is cut (just like Medicaid and every other federally funded mandate) during economic downturns (or GOP administrations) and the last thing to be replaced.

    As for the 'Marxist' comments, I call the 'Q-Rule' (a Godwin Rule anolog). Marxist, socialist, communist are terms used by the right in the same way the left uses Hitler, Nazi, fascist.

    There is no doubt plenty of things wrong with the education system in this country. Everyone thinks they know what they are. In most cases they all seem obvious. To us. However, a society is based on a social contract. People give up certain individual rights and privileges in order to assure their security and the common good. In a country of laws you have the means to make your views known and to try to persuade others to them. However, beyond your basic human rights everything else is negotiable and is determined by the will of the people. If you want something done or changed all you have to do is get enough people to agree with you.


    1. Last paragraph could use some additional thought and fine tuning.

    2. How much is it worth to you if I fix it up for you ?

    3. Is the social contract you speak of the Constitution, or some other written or unwritten system of mores ?

    4. .

      This is probably a mistake but go for it.


    5. ...say something about changing the subject from mores to whores.

    6. I was just asking to clarify your meaning.

      In the early days of our country we had one Constitution, but two sets (at least) of mores.

      All this broke down in a civil war of great magnitude.

      Also, you got some more whores ?

    7. Just Quirk's Stormy Stories.

    8. I paid double for my kids private education because I was not satisfied with mediocrity. Your premise is based on the belief that the government knows how to best educate your children with your money.

      You may not like the term Marxism, but in case you forgot, Marx taught that pre-Him, societal educational aims were viewed primarily in terms not to his liking, and his immediate goals were to create a socialist consciousness as well as a socialist society. Marx taught that expanding public education for the working class ( which he was never part of) was critical to enact his philosophy and his followers dutifully made it one of their major demands, providing education and theoretical guidance to the working class and socialist movement. Like Obama, Marx wanted to fundamentally transform society to the socialist model, a model which wherever created, caused one disaster after another and continues to create mediocrity, entitlement, its practice leading to the current absurdity and inability to know if one is male or female and which bathroom to use. Paid for with other "peoples" money, of course.

      However, a society is based on a social contract. People give up certain individual rights and privileges in order to assure their security and the common good. In a country of laws you have the means to make your views known and to try to persuade others to them. However, beyond your basic human rights everything else is negotiable and is determined by the will of the people.

      Who determines that common good? Who dictates it? Laws? The laws of a few men dressed as wizards? The will of the people? There is no "people" There are manipulators, elitists who know best and a system corrupted to allow them to manipulate for the best of intentions.

    9. .

      A society is a group of people who share the same or similar culture and in the case of the nation state the same geographic area who come together and elect to live under a particular political system and set of laws.

      How the issues that arise from differing mores is handled is an example of how a democratic society manages differences. The Constitution consists of a series of compromises agreed to by the people drawing the document and later ratified by the people through their elected representatives.

      While I am originalist when it comes to the Constitution and the law, that only means that if you are going to do something not allowed under that document you have to follow the approved process for changing the rules and the law. It doesn't mean the Constitution was perfect or shouldn't be changed over time. Culture and mores also change over time. In the 1860's, we saw what happened when society couldn't agree on what the rules where or how they were decided.


    10. "The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people."

  15. .

    Stormy Daniels

    The more I see of Stormy Daniels the more I like her.

    She is the all American girl, a porn star who is taking her 15 minutes and running with it. Doesn't seem to take much all that seriously. The latest is she has just recorded an interview for an upcoming '60 Minutes' episode.

    She's attractive and perky and unless every picture I've seen of her is Photo Shopped she's doing all right at 38. Boobs a little larger than I like (probably augmented) but they show no signs of droop, definitely not pendulous.

    I keep expecting Trump will some day deny he had an affair with her and then give us a big wink and a smile.


  16. Quirk to spend first week of April with Bob.



  17. Thousands of years ago, a special child was born in the Sahara. At the time, this was not a desert; it was a green belt of savannas, woodlands, lakes and rivers. Bands of hunter-gatherers thrived there, catching fish and spearing hippos.

    A genetic mutation had altered the child’s hemoglobin, the molecule in red blood cells that ferries oxygen through the body. It was not harmful; there are two copies of every gene, and the child’s other hemoglobin gene was normal. The child survived, had a family and passed down the mutation to future generations.

    As the greenery turned to desert, the descendants of the hunter-gatherers became cattle-herders and farmers, and moved to other parts of Africa. The mutation endured over generations, and for good reason. People who carried one mutated gene were protected against one of the biggest threats to humans in the region: malaria.


    1. How One Child’s Sickle Cell Mutation Helped Protect The World From Malaria

  18. .

    I paid double for my kids private education because I was not satisfied with mediocrity. Your premise is based on the belief that the government knows how to best educate your children with your money.

    No. It isn't.

    My view is that given the variances among the states, economic and societal, the federal government is a necessary evil to assure some minimum level of equality in providing an education to our kids.

    There's no doubt the Feds suck at their job but given the make up of our society, this basic job of federal government is necessary and they are the only ones that can do it.

    I'm glad to hear you paid double to assure your kids didn't have to suffer mediocrity. But here's a bit of news, there are millions (tens of millions?) of people in this country that don't have that luxury.

    Your dialogue on Marx is historically interesting but it has jack shit to do with school funding the subject we were discussing. The rest of it, the criticism of Obama, the PC gone wild, are all things everyone here would agree with but they are independent of providing the means to assure the availability of basic educational needs, reading, writing, math, the sciences and the humanities, the things I would argue every society needs to counter the perverse influences of 'Marxist' thought you decry.

    Who determines that common good? Who dictates it? Laws? The laws of a few men dressed as wizards? The will of the people? There is no "people" There are manipulators, elitists who know best and a system corrupted to allow them to manipulate for the best of intentions.

    The common rant. I use it here every day. You give me your examples and I'll give you mine. We can discuss them in depth if you have a few hours or days.


    1. "The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people."

    2. .

      I agree and as I noted above the bulk of school funding comes from the states. There is nothing in the Constitution that guarantees an individual an education. It's taken on by states because it's judged a societal good and a competitive advantage.

      I merely argue that there is a base level federal role in creating a level playing field. The obvious example is Plessy vs Ferguson where a legal issue was involved. There is also a basic federal role IMO when it comes to addressing and organizing around specific needs such as failing reading and math scores issues that effects the national economy and security.

      I'm not saying my views are dictated by law but what I merely consider common sense.


    3. .

      Talking specifically about college education and the problems there that Deuce pointed out above, in my opinion they are for the most part societal problems rather than governmental problems.

      Most federal funds spent on higher education are used for student aid and grants for research. Most of the spending is in Pell grants. The amount of money spent and what it is spent on is always open to debate. For instance, Obama wanted to increase the $ amount of Pell grants by the inflation rate. Trump on the other hand has suggested reducing Pell grant reserves by $3.9 billion; however, he would be doing it to allow an easier pay down schedule for government grant recipients.

      The non-financial issues are another matter altogether and are going to be driven by politics. This is another area where the Feds can play a part. The Obama administration applauded some of the snowflake shenanigans going on in our colleges and universities today. Trump, through Jeff Sessions, has the ability to put a government stamp on reigning in any abuses, at least at public institutions.

      One area would be centered on first amendment rights. I believe it is safe to think that most of America deploys the elitist, entitled behavior of snowflakes and the administrations and faculty that support them. When people bring lawsuits arguing their rights have been violated because they are conservative, white, or a heterosexual man that thinks there are only two biological sexes, DOJ should jump in with an amicus brief supporting them. The ACLU will do it. The Thomas Moore Law Center and other groups will do it.


  19. ‘I TWISTED UNTIL THEY POPPED OUT’ Woman, 20, reveals why she clawed out her own eyes


  20. As students’ college loan debt grows, How much student loan debt is too much?

    With more students attending college, and taking on debt to do it, the nation’s outstanding student loan debt grew by 2.1 percent, to $1.41 trillion, from $1.38 trillion at year-end 2017, according to the Federal Reserve Bank of New York.
    Loans can have some unexpected benefits Read More @

    How much student loan debt is too much?


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    how to use american express gift card online

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