as of the end of September, a jump from 8.9% at the end of June. The WSJ article states that student loan debt outstanding exceeds auto and credit card loans, nearing $1 trillion in total.
Loans to students in for-profit schools are particularly troubled. 23% have defaulted among those whose loans "came due in the year ended Sep 30, 2009."
Mitchell, Josh (2012, Nov 28). Federal Student Lending Swells. The Wall Street Journal, pp. A1, A6.
PREVIOUS POSTS
Feb 07, 2011
It
was announced last summer that total student loan debt, at $830
billion, now exceeds total US credit card debt, which is itself bloated
to the bubble level of $827 billion. And student loan debt is growing at
the rate of $90 ...
Aug 08, 2012
Reilly
claims that "in the short term" student loans "don't juice the economy
in the same way as increases in credit card debt." Excluding student
loan debt, outstanding credit is down more than 15% from the 2008 peak.
Nov 18, 2010
People
in modern America carry student loans, credit card debt, and mortgages.
All of these are hard to pay back, often bringing with them
impenetrable contracts and illegal fees. Credit card debt is difficult
to discharge in ...
Apr 24, 2012
The
$1 trillion dollars outstanding in student loan debt is an unfair
burden that past generations of college students were not shackled with:
Imagine being a debt-burdened college student facing such a bleak job
market.
Dec 04, 2011
Credit
cards, auto-loans, student-loans, and mortgages were made widely
available to even the lowest income citizens. The expansion of credit,
facilitated in part by extraordinarily low interest rates set by the
Federal Reserve ...
Sep 02, 2010
Now
these for-profits are engaged in an all out assault against this
proposed policy to limit loan guarantees so that students don't get
stuck with excessive debt. For profit education is a
scam!!!!!!!!!!!!!!!!!!!!!!!! Posted by Majia's ...
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