News

How Student Debt May Be Stunting the Economy

Is student loan debt holding back the economy? There’s some new evidence that the answer may indeed be a big "yes."

In the past, it was easy to ignore the role that student borrowing might play in the overall economy. A decade ago, there was only about $300 billion in such loans outstanding, and even now the $1.1 trillion in student loan debt is dwarfed by mortgage debt. But people who borrow money to pay for their education can’t simply walk away without paying, unlike with mortgages, car loans or credit cards; there is no equivalent of foreclosure, and student loan debts aren’t cleared by bankruptcy.

Neil Irwin

Full Story: http://www.nytimes.com/2014/05/15/upshot/the-role-of-student-debt-in-stunting-the-recovery.html?hpw&rref=education

Sorry, we couldn't find any posts. Please try a different search.

Leave a Comment

You must be logged in to post a comment.