Monday, May 13, 2013

Student Loans Today

Joe Stiglitz outlines some statistics re student loans today:  
  • 13% of student-loan borrowers of all ages owe more than $50,000
  • 4% owe more than $100,000 
  • 17% of student-loan borrowers were 90 days or more behind in payments
  • three-year default rates exceeded 13%
  • total student debt, around $1 trillion, surpassed total credit-card debt last year.
The job market is not getting better.  Salaries for the average worker are not increasing.  Do we have a problem?  What are our leaders doing about it?

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