“The number of student loans held by subprime borrowers is growing, and more of those loans are souring, the latest signs that a weak job market and rising debt loads are squeezing recent graduates.
In all, 33% of all subprime student loans in repayment were 90 days or more past due in March 2012, up from 24% in 2007, according to a Wednesday report by TransUnion LLC.”*
Risky student debt is beginning to soar- with over half in deferment. This is more than the students’ problem…this is a taxpayer problem, and its only getting larger. David Sirota (Salon.com) and John Iadaola (TYT University) discuss.
*Read more from Wall Street Journal:
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