Following on the news that auto loan delinquencies of 3 months or more were at an all time record high, we now get the news that student loan debt is also setting delinquency records.In the third quarter of 2018 they set a record of $166.3 Billion, 3 months or more in arrears, which was broken in the fourth quarter when the delinquent payments rose to $166.4 Billion.Student loan debt is guaranteed by the Federal government meaning that debts which go unpaid get added to the national debt, unlike auto loans which are levied against the issueing institution.
Individuals cannot discharge student loan debt and will have their wages garnered for life if need be
Just another failure of progressive ideology we all saw coming and have been warning about for years. Meh.
The best solution is to replace tuition subsidies with interest free student loans that get paid by salary deductions.
With all these student loan delinquencies, private finance companies are going to be even more reluctant to lend to students and are jacking up the repayment interest rates. That could make it harder for students to borrow money in the future.
Every year sets a new record on that one. Sp does hyper specialization and an ever increasing number of degrees, Add to that the fact that it takes longer now to get even a bachelors than once it did. A BA or a BS use to be a four year degree now it's usually six and seven isn't unheard of. My first year of college, was $6.25 a semester hour, and I rented a room off campus for $65 a month. Compare that to todays costs.
there is more min wage jobs right now, but many of the good jobs are going overseas to places like India, ect....
yet still have a high interest rate, the government would do better to manage the loans and give a much lower interest rate
That would be helping American citizens,the last thing in the world most of our politicians are interested in.
Yeah well, don't take out loans you can't pay back. American schools are crap, anyway. No way these graduates of the propaganda ministry can compete with people who have been educated.
And in exactly how do your comments contradict or bear out the Returdlicker claims of a Dirty Donald economic miracle????It takes a very over active imagination to conjure that up.
See what happens when every dolt gets to go to college and takes out huge debt to do so? They get a fairly useless degree and ruin things for the rest
Then you get others who come up with an outstanding business plan while in college and quit forming a company which makes them a billionaire!
The amount of student loan debt currently more than 3 months or more in arrears is more than twice the amount the government loaned out to bail out the auto industry following the 2008 financial disaster.
