Students Defaulting on Loans

Posted by Jeff Carter
on April 24th, 2011

Thinking of taking out a massive loan to major in some soft major at an elite institution? You might think again. Tough job market-even though it is showing some signs of improvement in certain sectors.

Evidence of the tough economic environment. Students are defaulting or delinquent on their loans. The average debt is going up.

Quote from the article, “It began to overwhelm me,” Younger said. “Do I pay my electric bill or pay back my loans? I’m not able to make my payments because I need four new tires to drive my children around.”.

More evidence of a higher education bubble?

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