Nearly 5 million Americans in default on student loans

[TalkRadio]

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.

In the third quarter alone, the count of such defaulted borrowers—defined by the government as those who haven’t made a payment in at least a year—grew by nearly 274,000, according to Education Department data released Tuesday.

The money they owe is becoming a bigger share of total outstanding student debt in repayment. Defaulted student loans totaled $84 billion at the end of the quarter, or 13% of the roughly $631 billion that borrowers were required to be paying down.

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.

https://www.wsj.com/articles/nearly-5-million-americans-in-default-on-student-loans-1513192375

 

[Rightguide]

Stupid Millenials taking out loans they don't understand.

 

[BoyNextDoor]

A few more Democrats in the Senate, take back the House, Impeach Trump and we'll get that fixed right up.

 

[Que]

A few more Democrats in the Senate, take back the House, Impeach Trump and we'll get that fixed right up.

And your "fix" would consist of a giveaway to whom, at the expense of whom?

You do realize crazy Uncle Bernie is not only not the VP, he is nowhere in the libe of succession, right?