More people than ever are defaulting on student loans — and it could put the US economy at risk
|12/14/2017||Posted by BusinessMediaguide.Com under General World News||
- Almost 5 million student loans have gone unpaid for a significant amount of time.
- Federal and private loans are going into default, making it harder for loan holders to establish credit or buy cars and homes.
- The federal government is on the hook for the money if defaulters can’t pay.
Approximately 4.6 million Americans have defaulted on federal student loans, according to The Wall Street Journal.
This figure includes an increase of 274,000 people over the last three months. At the end of the third quarter of the fiscal year, these nearly 5 million defaulters represent 22% read more >>>