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4/01/2015 8:37 am  #1


The Fed's Startling Student Debt Numbers That Every Young Person Shoul

The Fed's Startling Student Debt Numbers That Every Young Person Should See
Read the full story here:
http://www.zerohedge.com/news/2015-03-30/feds-startling-student-numbers-every-young-person-should-see

What I’m about to tell you is not my own opinion or even analysis. It’s original data that comes from the United States Federal Reserve and national credit bureaus.
[list=1]
[*]40 million Americans are now in debt because of their university education, and on average borrowers have four loans with a total balance of $29,000.
[*]According to the Fed, “Student loans have the highest delinquency rate of any form of household credit, having surpassed credit cards in 2012.”
[*]Since 2010, student debt has been the second largest category of personal debt, just after a home mortgage.
[*]The delinquency rate for student loans is now hovering near an all-time high since they started collecting data 12 years ago.
[*]Only 37% of total students loan balances are currently in repayment and not delinquent.
[/list]

Last edited by Common Sense (4/01/2015 8:38 am)


 “We hold these truths to be self-evident,”  former vice president Biden said during a campaign event in Texas on Monday. "All men and women created by — you know, you know, the thing.”

 
 

4/01/2015 9:02 am  #2


Re: The Fed's Startling Student Debt Numbers That Every Young Person Shoul

It is something that everyone (particularly investors) should know. Could this cause the next economic collapse - time will tell. 

 


"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
 
 

4/01/2015 10:09 am  #3


Re: The Fed's Startling Student Debt Numbers That Every Young Person Shoul

So . . .

What is the root cause and the remedy ?

 

4/01/2015 11:42 am  #4


Re: The Fed's Startling Student Debt Numbers That Every Young Person Shoul

Education should be free (or nearly free) for anyone with the ability, desire, and work-ethic right from the start  through undergraduate, graduate, and post-graduate school.  I think that would be best for the future of our nation and the preservation of a democratic state.  

 

4/04/2015 11:30 am  #5


Re: The Fed's Startling Student Debt Numbers That Every Young Person Shoul

Just Fred wrote:

Education should be free (or nearly free) for anyone with the ability, desire, and work-ethic right from the start  through undergraduate, graduate, and post-graduate school.  I think that would be best for the future of our nation and the preservation of a democratic state.  

 
I'm all for that.  Any ideas on how to pay for it, realistically?

 

4/04/2015 12:04 pm  #6


Re: The Fed's Startling Student Debt Numbers That Every Young Person Shoul

Any ideas on how to pay for it, realistically?

We could begin by getting a grip on defense spending ........... for example, we now have something like 800+ military bases spread throughout the world in 100+ countries.  We might also consider treating capital gains as income to be taxed at the same rate as any other income while putting an end to offshore bank accounts where we forfeit billions of revenue.  We could stay globally competitive with better trade deals, but I won't even get into the disasters of NAFTA, and the potential disaster known as TPP.

Secondly, and maybe most importantly, we need to treat education as a national priority.  The future of our nation depends on that, especially if we choose to end the push to take our democracy down the road to plutocratic oligarchy.

Last edited by Just Fred (4/04/2015 12:04 pm)

 

4/04/2015 1:34 pm  #7


Re: The Fed's Startling Student Debt Numbers That Every Young Person Shoul

Here is an interesting article from about two years ago that talked about the student debt issue as well as comparing our system to some countries where college education is "free". 

Even in Countries Where Tuition Is Free, College Debt Can Be a Problem

http://www.dailyfinance.com/on/student-loan-debt-countries-free-college-tuition/
 


"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
 
 

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