March 01, 2014

The Student Debt Crisis: Seniors Included!

Warren Belmar

Now that it is approaching crisis dimensions, it is time to revisit a topic addressed some years ago that is finally starting to receive serious attention from the media and from our elected officials. It is the escalating repayment obligations and default rates by borrowers of all ages on the $1.2 trillion in outstanding student debt, of which $1 trillion is in federal student loans, and the impact thereof on those individuals, their families, the economy, and taxpayer responsibility for repayment of the $17.5 trillion national debt.

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