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-   -   Deadbeat College Students Defaulting In Droves (http://www.clubconspiracy.com/forum/showthread.php?t=15677)

stompk 09-30-2012 10:02 AM

Deadbeat College Students Defaulting In Droves
 
Everyone loves to blame poor people for our financial problems. The housing bubble was due to too many loans to poor people, the 47% riding the govt gravy train, etc..

But little is mentioned about how the 'smarter' folks can't pay their bills.

Quote:

And while it is impossible using historical data to extrapolate with precision what the current consolidated federal student loan default rate is, we do know that there is now $914 billion in federal student loans (which also was mysteriously revised over 50% higher by the Fed just a month ago). Using simple inference, all else equal (and all else has certainly deteriorated), there is now at least $122 billion in federal student loan defaults. And surging every day.

Ladies and gentlemen: meet the new subprime.
http://www.zerohedge.com/news/2012-0...-loans-default

Stupid idiots push college like it's the only way for a country to advance.

How about on the job training, like normal people do?


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