Report Looks At Student Debt Issues Beyond Default
Two out of five student loan borrowers were delinquent at some point in the first five years after they started repaying their loans, according to an Institute for Higher Education Policy report. Almost a quarter of the borrowers used an option to postpone payments to avoid delinquency. The study offers a picture of student debt beyond those who default.
Those students need to see debt experts. Whether if looking for a helping hand to get back on track it makes sense to talk to an expert and find the right solution.
The present figures are scary. More than two third students are in debt and I am sure this is not the best start a young person can have after finishing college.
This only lends credence to the rumblings of some that education is the next coming “bubble”.
For far too long, college students were left in the dark about the consequences of “earning” degrees that had no earning potential.
Unlike other consumer debts, student loans are not dischargeable by Chapter 7 Bankruptcy.
More and more people who spent the last 5 years of their lives living the good life are waking up to the fact that they’ve got huge debt and nothing more than a job at Applebee’s (that is, if they’ve got a degree from a “good” University) to try and pay it off.