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SLM Corporation Message Board

  • lswavecito lswavecito Jan 12, 2012 1:53 PM Flag

    Student Loan Debt....


    Getting out of hand?

    Excerpt of Q & A at The Daily Ticker....

    >>>More than two-thirds of risk managers are seriously concerned about the debt loads held by students in the country. 67% of respondents believe delinquencies of student loans will rise, up a considerable 19% from the previous survey.
    "They are worried about the amount of student loans that are out there and the ability of those students to repay them," says Mark Greene, CEO of FICO, which provides credit scores used by both consumers and creditors and is widely considered the industry standard.
    With tuition prices on the rise each and every year, it is no surprise that the total amount borrowed is also on the upswing. The student who graduated in the class of 2009 had an average of $24,000 in student loans. But that's just the average. Some students are accountable for sums totaling $100,000. (See: The Economic Agony of Today's Twenty-Somethings)
    The Federal Reserve reported last year that student debt has actually surpassed credit card debt and predicts the total amount owed has topped $1 trillion.

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