Results 1 to 6 of 6

Thread: Nearly 40% Of Student Loan Borrowers To Default By 2023

  1. #1

    Default Nearly 40% Of Student Loan Borrowers To Default By 2023

    https://www.zerohedge.com/news/2018-...s-default-2023

    Over three years ago, when the full extent of the student debt crisis was becoming apparent, the Treasury Borrowing Advisory Committee released a startling analysis and long-term forecast which showed two things: i) up to a third of all student loans are likely to end up unrepaid...



    ... and ii) the total amount total student loans, which currently amount to $1.48 trillion (nearly 50% more than all the credit card debt in America), is set to hit a whopping $3.3 trillion by 2024.



    Fast forward to this week, when a Brookings Institution report offered a new set of dire observations suggesting that "the looming student default crisis is worse than we thought."

    The analysis "suggests that nearly 40% of borrowers may default on their student loans by 2023," a staggering number if one assumes the TBAC's forecast that there will be roughly $2.5 trillion in student loans outstanding by 2020 (see chart above). It would mean that no less than $1 trillion in student loans will be in some form of default in two years, an outcome which will necessitate another indirect, if ultimately taxpayer funded bailout from the US treasury: recall that the vast majority of student debt is currently issued by the US government.

    ...
    Full article on link

    ---

    Is this really the sign of a good healthy and strong economy for those that have no other choice but to live on Main Street?
    1776 > 1984

    The FAILURE of the United States Government to operate and maintian an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

    You are Ron Paul's Media!

    Quote Originally Posted by Zippyjuan View Post
    Our central bank is not privately owned.



  2. Remove this section of ads by registering.
  3. #2

    Default

    Who would have thought that a curriculum built on social justice issues would have led to the inability to pay back student loans?
    Theye have refused their Assent to Laws, the most wholesome and necessary for the public good.

    Theye have erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance.

    Theye kept among us, in times of peace, Standing Armies

    Theye have combined with others to subject us to a jurisdiction foreign to our constitution,

    For protecting them, by a mock Trial from punishment for any Murders which they should commit on the Inhabitants of these States:

    For cutting off our Trade with parts of the world:

    For imposing Taxes on us without our Consent:

    For depriving us in many cases, of the benefit of Trial by Jury:

    Theye plundered and destroyed the lives of our people.

    Theye are at this time transporting Armies of Mercenaries to compleat the works of death, desolation, and tyranny, already begun with circumstances of Cruelty & Perfidy scarcely paralleled in the most barbarous ages, and totally unworthy of a civilized nation.

  4. #3

    Default

    Quote Originally Posted by phill4paul View Post
    Who would have thought that a curriculum built on social justice issues would have led to the inability to pay back student loans?
    Well, at least Uber will not be complaining about drivers shortage.
    Truth is a social construct.

  5. #4

    Default

    I was talking to someone in HR who works at an architecture firm and they received a wage garnishment the other day from the government for about $220k for student loans for one of the architects.

    They are taking about $750/mo out of his paycheck per month (which goes up if he gets a raise) for the next 25 years.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  6. #5

    Default

    We were given an answered prayer this year when by miracle we came into a situation that allowed us to pay off the wifes loans. Until that time, we were certain we would never pay them off in our lifetime and probably never retire. Let me tell you from 1st hand anecdotal experience that they are a TREMENDOUS Burden and life drain. There were many times I thought we would eventually default. And we were from a generation that was on the front end of the problem. Our college degrees are overrated. I'm very thankful for the critical thinking skills I gained, but not much else. If I had to do it all over again, I would do things differently to avoid the stress.
    Whenever you find yourself on the side of the majority, it is time to pause and reflect - Mark Twain

  7. #6

    Default

    *bump*

    Im wondering what this statistic will look like if we have another major stock market crash like in 2008 before 2023? Its not that far off and is plenty of time for another cyclical crash to occur. If we hit full on default, I would expect this 40% number to be much much higher. So is all that debt in student loans really worth it?
    1776 > 1984

    The FAILURE of the United States Government to operate and maintian an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

    You are Ron Paul's Media!

    Quote Originally Posted by Zippyjuan View Post
    Our central bank is not privately owned.



Similar Threads

  1. US Government Caught Massively Fabricating Student Loan Default Data
    By Brian4Liberty in forum U.S. Political News
    Replies: 1
    Last Post: 01-19-2017, 06:02 PM
  2. Replies: 0
    Last Post: 01-11-2015, 07:15 AM
  3. Replies: 4
    Last Post: 10-13-2013, 04:06 AM
  4. Federal SWAT team Busts into House over Student Loan Default
    By bobbyw24 in forum Economy & Markets
    Replies: 13
    Last Post: 06-08-2011, 11:20 AM
  5. Replies: 4
    Last Post: 12-14-2009, 11:11 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •