I was at the cigar shop this past weekend talking with the usuals and a few students from East Carolina University came in the shop. Several of us started talking with them because we had graduated from ECU. They seemed like happy and hardworking students. They mentioned something very interesting that has far reaching repercussions for the US economy. Their student loans are going to be cut off after the spring semester. They all are going to have to quit school and find and job and go part time. There is nothing wrong with this. I think that it is a good way to put oneself through college. There is a problem with the above scenario because the US JOB MARKET cannot absorb the amount of students that will have to quit school and find a job. There are just not that many jobs out their. Many of these students will then become unemployed due NO fault of their own. This does not bode well for our country. As students can no longer afford college, then colleges and universities will cut back by firing staff such as professors and campus workers which will place a further strain on a depressed job market. Does anyone know where I am going with this?

The private loans are gone. The government federal loans are being scaled back.