Rising Student Loan Debt Poses a Risk to the Economic Recovery

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Rising Student Loan Debt Poses a Risk to the Economic Recovery

By The BIDaWIZ Team on March 28th, 2012 at 11:30 pm

We've been preaching for over a year now that every family needs to prepare for the rising cost of college tuition. Recently released data reveals that the number of outstanding student loans has surpassed the $1 trillion mark and this year alone over $100 billion new loans where issued to students. This is concerning considering that student loan default rates are up to 8.8% and the interest rate on the government subsidized Stafford loan is expected to double. .

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