Type something and hit enter

ads here
On
advertise here

http://ift.tt/2C1p01e

I believe this is behind a paywall... here are the interesting nuggets:

The number of Americans severely behind on payments on federal student loans reached roughly 4.6 million in the third quarter, a doubling from four years ago, despite a historically long stretch of U.S. job creation and steady economic growth.

...

The government’s student-loan portfolio now totals $1.37 trillion. That figure includes debt in repayment; debt for which borrowers aren’t required to be paying down because they are in school or have otherwise been granted temporary reprieves; and debt from an older program that guaranteed loans made by private lenders.

...

“It’s kind of phenomenal given all the tools we have at this point to avoid default that this many people are still winding up in default,” said Clare McCann, an education-policy analyst at New America, a center-left think tank.

...

In some ways, the outlook for the federal student loan program has improved. The rise in default in part reflects an overall increase in Americans entering the repayment cycle. As a share of all borrowers in repayment, new defaults fell in the third quarter compared with a year earlier.

Student loans are making up an ever-increasing portion of the national debt, and an increasing number defaults is not such a great thing, even though the default rate is lower...



Submitted December 14, 2017 at 01:58PM by cjw_5110 http://ift.tt/2o3YDpj

Click to comment