Sunday, May 18, 2014

5 reasons the college student loan debt crisis could top subprime mortgages - Keith Button, Education Dive

As the U.S. higher ed student loan debt continues its ascent, more warnings are sounding about the consequences. Student debt currently amounts to $1.08 trillion owed by nearly 37 million borrowers. Richard Cordray, president of the Consumer Financial Protection Bureau, has warned that the student loan problem is comparable to the home mortgage market prior to the Great Recession that began in 2008. Could the economic impact of the student debt crisis one day match (or even exceed) the credit crunch created by subprime mortgages? Here are five reasons for concern. http://www.educationdive.com/news/5-reasons-the-college-student-loan-debt-crisis-could-top-subprime-mortgages/258688/