Authored by Naveen Athrappully via The Epoch Times (emphasis ours), The U. S. Department of the Treasury and the Department of Education (ED) jointly announced a new partnership under which the Treasury will assume responsibility for collecting on defaulted federal student loan debt, according to a March 19 joint statement from the departments.

As the federal debt keeps ballooning, options are narrowing to avert a crisis. The first law of holes: When you're in one, stop digging.