Millennials Most Likely to Default on Student Debt

ArticleDebt crisisNovember 24, 2017 - 3:17:04 AM

The US student loan burden is out of control, while the economy has failed to back it up with sustainable wage growth or market-competitive job creation. Meanwhile, patronage and other practices hinder the process of securing a career path further hindering the ability of young workers to service student debt.

Kristian Rouz – US student debt has ballooned since the mid-2000s due to Obama-era ultra-low borrowing costs, the lack of wage growth, and the growth in the number of zombie-economy low-paying jobs. Subsequently, a significant share of university graduates are now facing career-ruining bankruptcies due to problematic personal finances resulting from the credit-fueled economic expansion of the past eight years.

Source:Stuptnik News

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