Student loan debt in the United States has hit a new all-time high, a new analysis says.
According to a report from Bloomberg, outstanding student debt has now reached $1.465 trillion, more than double what it was during the great recession nearly a decade ago. The outstanding debt was $675 billion in June 2009 during the Obama presidency.
According to Bloomberg’s analysis, students who took out loans in 2012 ran into the most trouble; loans taken out that year have spiked to the second-highest default rate on record and the highest of any rate since the recession.
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3 comments:
Forget interest rates, forget trade wars, forget stock market bubbles.
The student loan debt is the single largest pair of concrete shoes on the growth of our economy.
If you couldn't afford to pay for college what makes you think taxpayers wanted to pay for your education. If you borrowed money to go to college than pay it back. You went to college to get a better education; better job than your fellow man. So now you are smarter and richer you don't vwant to pay up. Why? If I borrow money for a car or home and Don't pay they take it away from me. Hard to take your new "smarts" from you but I suggest your resume and any documents contain the info "college loan not repaid". That would hurt your integrity.
9:29 don't forget credit card debt at $2B either!!!
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