The most delinquent loan of them all: Student debt delinquencies at record levels on the eve of rates doubling. Half of college graduates working in jobs where their degree is not required.
If the news for college graduates couldn’t get any better. Our woefully motivated millionaire Congress is unable to figure out what is necessary to stop the doubling of interest rates on student debt. While the Fed can turn on a dime to rectify zero percent interest rates for member banks, trying to help the youth […]
The facts behind the mountain of student debt: 13 percent of students owe more than $50,000 and nearly 4 percent owe more than $100,000. Student debt grew by 284 percent from 2004 to 2013.
Many Americans view a college education as a way to build a better life. College is seen as an avenue for better prosperity and the ability to pull yourself up beyond your current circumstances. In fact, after World War II programs like the G.I. Bill allowed many Americans the opportunity to pursue a college degree. […]
The young, educated, and massively in debt college generation: Total student debt outstanding approaches $1.1 trillion. 65 percent of all outstanding student debt held by those 39 and younger.
It is interesting to hear older politicians take the podium and wax and wane poetically how young Americans are not working hard enough or need to take responsibility for their actions in the current economy. The reality of the situation is the recent recession has punished the young disproportionately. The young have seen their net […]
The higher education racket gets long in the tooth: For-profits account for 47 percent of defaults but make up only 13 percent of total enrollments.
Bubbles do not burst in a nice orderly fashion. In fact, incredible graft enters the system where it becomes obvious to any bystander that the bubble is going to burst. This is the case for higher education. The US has over 4,000 colleges and universities, with many of them operating like glorified paper mills. Similar […]