Perhaps the biggest bubble on earth is the student debt bubble. It’s massive on any scale. There’s no possible way this will end well. Continuously increasing education costs, maximal debt, and the compounding effect of not having a good salary or any job at all on top of debt repayments. This is a system in which cannot end well, yet we are told to ignore it. Sounds fishy to me.
Student Loans Owned and Securitized, Outstanding (SLOAS) | FRED | St. Louis Fed
Source: Board of Governors of the Federal Reserve System (US) Release: G.19 Consumer Credit Units: Frequency: Notes: For further information, please refer to the Board of Governors of the Federal Reserve System’s G.19 release. Suggested Citation:
Student Loan Default Has Serious Financial Consequences | The Pew Charitable Trusts
As of December 2019, about 43 million Americans held federal student loans, and the education financing system is under growing pressure as more borrowers struggle to repay, a problem compounded by the complexity of the repayment process.
Student Loan Debt Statistics In 2020: A Record $1.6 Trillion
Student loan debt in 2020 is now about $1.56 trillion. The latest student loan debt statistics for 2020 show how serious the student loan debt crisis has become for borrowers across all demographics and age groups. There are 45 million borrowers who collectively owe nearly $1.6 trillion in student loan debt in the U.S.
Section 4: Student loans and debts
View the most recent version. Canadian students in postsecondary education get financial support from a wide variety of sources including employment income, family support, scholarships, grants and loans from government and private sources. This section looks at student debt incurred by the graduating class of 2009-2010 and examines only graduates who did not pursue further education within the three years after graduation.
Federal Interest Rates and Fees | Federal Student Aid
COVID-19: Stay Informed – National Student Clearinghouse Research Center
Beginning in mid-March 2020, many colleges across the U.S. shifted to online-only learning almost overnight. Currently, due to the uncertainty caused by a resurgence of the coronavirus and the challenges of responding to quickly evolving logistical concerns, institutional leaders and students alike are faced with difficult decisions that must be made with a lack of reliable, up-to-date information.
Books | The Money GPS
The uncertain present and future for recent graduates – BBC Worklife
Young people are graduating into what could be one of the toughest job markets in decades. Unemployment is rising, companies are freezing recruitment and the global economy is set to experience the deepest recession since World War Two, according to the World Bank.
Student Loan Delinquency and Default | Federal Student Aid
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The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.
Student debt has risen considerably over the years. We have watched the growth of debt on all levels. Credit card, student loans, mortgages, line of credit. Debt is not being paid back.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.