Killer Student Loans

“This year Americans’ total outstanding student loan debt from federally funded and private loans was estimated at $833 billion, a sum that exceeds our credit card debt (though the two kinds of debt overlap, since, as the Smith study showed, credit cards are used to help pay tuition). The Chronicle of Higher Education reported in July that the 15-year default rate for federal loans is 20 percent; for loans to community college students, 31 percent; for loans to students at for-profit schools, 40 percent.”

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This entry was posted on October 31, 2010 at 3:45 am and is filed under Economy, Higher Education, Sallie Mae, Student Debt, Student Loan Default, Student Loans with tags elections, halloween, midterm elections, student loan crisis, u.s. economy. You can follow any responses to this entry through the RSS 2.0 feed You can leave a response, or trackback from your own site.

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