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Student-Loan Delinquencies Now Surpass Credit Cards
Student loan delinquencies now surpass 11%.....Holy crap!
I don't think it should be a surprise though. With college education costs rising exponentially vs. inflation and the fact that college grads are having a difficult time finding jobs, it was inevitable.
Sadly, with little improvement in the employment picture on the horizon, expect the rate of delinquency to keep rising.
And no, we don't need a federally funded program to bail out these students.
The trouble is, while losses and write-downs of credit-card debt typically fall on banks and private-sector lenders, in the case of student debt, it is largely taxpayer dollars at risk. And the student-debt pile only keeps growing. After first surpassing credit-card debt in mid-2010, the amount of student-loan debt outstanding has quickly surged to become 42 percent larger than the $674 billion of credit-card debt outstanding as of September
Last edited by PatriotsReign; 11-29-2012 at 06:54 AM..
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Re: Student-Loan Delinquencies Now Surpass Credit Cards
I wonder what the degree program demographics are......
of course we won't find out, because it would risk the libbie getting 200k for a degree in anthropology
__________________ “ I think good coaches will coach with the personnel they have, and if you only have one (good) linebacker, you’re not going to play a 3–4. ”
—Hank Bullough, who installed one of the first 3–4 defenses with the New England Patriots.