The Disturbing Trend that is Student Loan Debt
Charts like the one below from this Wall Street Journal story yesterday have been popping up all across the internet as the nation’s mounting student loan debt looks increasingly likely to end very badly someday, though, considering all the other things that could end badly, it’s probably not worth worrying about.
Of course, the other big news about student loans is that their default rate recently passed that of credit cards. With the economy still shaky and income growth almost nonexistent, that’s not likely to improve anytime soon, though, over time, the default rate will probably decline.Why? Simply because more and more people will eventually realize that, in many cases, going to college is no longer worth the time or money, something that, today, many Starbucks baristas with liberal arts degrees can no doubt attest to.