Student loan debt: America's next big crisis
Posted on AllSides August 23rd, 2015
From The Left
The Federal Reserve Bank of New York released its latest Report on Household Debt and Credit Developments, and the news isn't good for student-borrowers.
As of the second calendar quarter ending June 30, seriously delinquent student loans (which the FRBNY describes as those whose payments are 90 or more days past due), increased to 11.5% of the $1.19 trillion dollars' worth of education loans, versus 11.1% in the first quarter.
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