At $1.1 trillion, student debt eclipses all other forms of household debt, except for home mortgages.
The U.S. government is forecast to turn a record $51 billion profit this year from student loan borrowers, a sum greater than the earnings of the nation’s most profitable companies and roughly equal to the combined net income of the four largest U.S. banks by assets.
Continue reading… “U.S. government student loan policy reaping $51 billion profit”
Student debt is a dangerous bubble that is piling unprecedented levels of debt on young people.
Houses and cars power recoveries. And young people aren’t buying either. That’s a New York Fed study conclusion and that can be easily read as blaming student debt for holding back the recovery by squashing home and auto sales.
Continue reading… “Are student loans wrecking the economy?”
According to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit Total, consumer debt in the U.S. fell again in the third quarter. This figure has been falling for four years. As consumer debt has been falling, so have consumers’ delinquency rates. As of Sept. 30, 8.9 percent of outstanding household debt was in some stage of delinquency, with 6.6 percent at least 90 days late.
Continue reading… “Student loan debt growing and so is the delinquency rate”
Economists are increasingly worried that young Americans will spend years buried under student debt.
Joe Mihalic was determined not to be one of the many young Americans that economists are increasingly worried about that will spend the coming years buried under student debt.
Continue reading… “How one man wiped out $90,000 in student loans in 7 months”
Americans 60 and older still owe about $36 billion in student loans.
Senior citizens are an unexpected demographic that is still burdened with paying for college and the student loans are wreaking havoc on their finances.
Continue reading… “Student loans still a burden on senior citizens”
The student loan default rate for fiscal 2009 surged to 8.8%, up from 7% in 2008.
Two years ago critics warned that government-backed student loan defaults would rise. The question was how soon would taxpayers feel the pain. This month, the U.S. Department of Education provided part of the answer when it reported that the default rate for fiscal 2009 surged to 8.8%, up from 7% in 2008.
Continue reading… “Student loan defaults continue to grow and the worst is yet to come”
College loans will top a trillion dollars.
More students will be going to college this and more of these students will borrow money to do so. Student loan debt will likely top a trillion dollars this year. And for the first time last year student loan debt outpaced credit card debt.
Continue reading… “Growing Student Loan Debt Weighs Heavier on Graduates”
The bubble that has taken the place of housing is the higher education bubble.
Peter Thiel, PayPal co-founder, hedge fund manager and venture capitalist has a special talent for making money. He also has a talent for making people mad.
By delving into the futuring techniques of Futurist Thomas Frey, you’ll embark on an enlightening journey.
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