Student Loan Default: The 100 Billion Hidden TimeBombNovember 14, 2012 3:12 pm
We spotted this stat today, that US taxpayers could be looking at a 100 billion dollar bill, caused by student loan defaults (Source) in the next 3-4 years. We are looking at the highest default rate in 14 years. The current default number is 13.4 percent, and it will go up again. And it is a ‘Trillion dollar student debt’ generation.
We had written about the Education-Employment connection before. Hopefully, the right jobs would get created for all the freshly minted graduates.