Student Loan Defaults Rising
March 26, 2009
Written by Cathy
Written by Cathy
This is scary. Student-Loan Default Rate Rises according to the Wall Street Journal. The majority of the defaults are coming from private lenders. Government issued loans, which have much lower rates than private loans, are in turn experiencing much lower default rates. It looks like many people are abandoning their higher interest rate debts altogether in their “debt snowball”. Symptoms of recent college grads having a tough time finding a job in this economy. Many of them won’t be included in the unemployment numbers, so I suspect the real unemployment figure is quite scary.
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