Wednesday, November 28, 2012

Payments on 11% of Student-Loan Balances 90 Days or More Behind


as of the end of September, a jump from 8.9% at the end of June. The WSJ article states that student loan debt outstanding exceeds auto and credit card loans, nearing $1 trillion in total.

Loans to students in for-profit schools are particularly troubled. 23% have defaulted among those whose loans "came due in the year ended Sep 30, 2009."

Mitchell, Josh (2012, Nov 28). Federal Student Lending Swells. The Wall Street Journal, pp. A1, A6.

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