Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
In reply to the discussion: Weekend Economists Out on an Idle Idol Idyll November 15-17, 2013 [View all]xchrom
(108,903 posts)32. All of a Sudden Students Have Stopped Paying Their Loans, Again—Why?
http://www.theatlantic.com/business/archive/2013/11/all-of-a-sudden-students-have-stopped-paying-their-loans-again-why/281548/
The first six months of 2013 brought us a small measure of good news about student loans: the delinquency rate, while still far too high for comfort, was falling.
Sadly, that's no longer the case. As shown on the graph below, the Federal Reserve Bank of New York reports that 11.8% of outstanding loan balances were 90 days or more past due by the end of September, a new post-recession high.
This could just be a temporary blip. Or, it could be a sign that the problems with student lending are still going to linger with us even while the economy heals, as students who graduated (or dropped out) into the anemic post-recession economy fall behind on their debt. In any event, it's disconcerting, not to mention a reminder that Congress might want to consider stepping in and doing something sooner rather than later.
***because they don't have any money? just a guess.
The first six months of 2013 brought us a small measure of good news about student loans: the delinquency rate, while still far too high for comfort, was falling.
Sadly, that's no longer the case. As shown on the graph below, the Federal Reserve Bank of New York reports that 11.8% of outstanding loan balances were 90 days or more past due by the end of September, a new post-recession high.
This could just be a temporary blip. Or, it could be a sign that the problems with student lending are still going to linger with us even while the economy heals, as students who graduated (or dropped out) into the anemic post-recession economy fall behind on their debt. In any event, it's disconcerting, not to mention a reminder that Congress might want to consider stepping in and doing something sooner rather than later.
***because they don't have any money? just a guess.
Edit history
Please sign in to view edit histories.
66 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
Trans-Pacific Partnership: "We Will Not Obey"; Building a Global Resistance Movement
Demeter
Nov 2013
#3
and people wonder why i stay single -- i complain constantly about my dirty dishes taking
xchrom
Nov 2013
#31
Debt collectors face new rules under proposal from Consumer Financial Protection Bureau
Demeter
Nov 2013
#5
5 states where homeowners lost the most money / Home values plummeted by $100,000 in many areas
Demeter
Nov 2013
#6
The Chinese Government Looks Like It's Reining Back Its Intense Control Over IPOs
xchrom
Nov 2013
#17
JIM O'NEILL: We Shouldn't Keep Telling The Emerging Markets To Do Things 'Our Way'
xchrom
Nov 2013
#20
Bloomberg Reporter Suspended Over China Leak, And Now A Round Of Layoffs Might Be Coming
xchrom
Nov 2013
#53