It appears the concept of no consequences is now deeply embedded in the American society. As Student loan debtloads surge ever higher - and opportunities grow ever lower - NBC News reports a rather stunning 24% of Millennials said they expect their loans will ultimately be forgiven, according to study released Wednesday by Junior Achievement and PwC US. Thathelps to explain why delinquency rates are at record highs - aside from the massive debtloads and no high-paying jobs - as students see bankers rigging every market in the world with little to no consequence, one can only imagine the lessons being learned.
Heavily delinquent student loans hit a fresh record high of $124.3 billion, up from $121.5 billion in the prior quarter.
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7 comments:
Can't I get mortgage forgiveness while they're at it?!!
I had to repay mine why not them
I paid my student loan off and then paid for my grad school as I went. There is no need to pay off or forgive anyone's student loan unless they go back retroactively and pay for others such as mine and pay me interest.
If you're not going to be able to pay your huge student loans, don't go to such an expensive school. These kids also expect a big salary from their first job out of college. They need to learn how to work their way up the ladder & not buy the new car or rent the expensive apartment.
They borrowed the money, make them pay it back.
Figures, country is good at giving free stuff to lazy people and overtaxing workers.
That's right they need to pay it back. I mean the bank did have to type the numbers into the account number.
Typing digits into a keyboard is tough and tedious. It deserves to be "paid back". Those kids should be forced to sit for several minutes in front of a computer screen and type digits into the BANK'S account number.
Then everything will be even steven.
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