USA Federal student loans are due again. A record percentage of borrowers are seriously delinquent

Romanos

Romanos

God is good.
Executive Administrator
Community Team
Supporting Member
Joined
May 12, 2015
Messages
3,686
Gender
Male
Religious Affiliation
Christian
Political Affiliation
Conservative
Marital Status
Single
Acceptance of the Trinity & Nicene Creed
Yes
New York
CNN
—
About 4 million, or roughly one in five, federal student loan borrowers with a payment due are seriously delinquent, according to a new analysis published Monday by TransUnion.

Research from the information and insights company suggests that a significant number of Americans with student loan debt are not able to make payments, did not know payments were due or decided not to pay.

 
Lamb

Lamb

God's Lil Lamb
Community Team
Administrator
Supporting Member
Joined
Jun 10, 2015
Messages
33,305
Age
58
Gender
Female
Religious Affiliation
Lutheran
Political Affiliation
Conservative
Marital Status
Married
Acceptance of the Trinity & Nicene Creed
Yes
I think a lot of those people were still hoping Biden would pay off their loans like he promised.
 
N

NewCreation435

Well-known member
Valued Contributor
Joined
Jul 13, 2015
Messages
5,072
Gender
Male
Religious Affiliation
Christian
Political Affiliation
Conservative
Marital Status
Married
Acceptance of the Trinity & Nicene Creed
Yes
Lamb said:
I think a lot of those people were still hoping Biden would pay off their loans like he promised.
Click to expand...
I would agree. It was easy to forget about it when there was a pause on repayment because of COVID also.
 
F

Frankj

Well-known member
Joined
Nov 11, 2024
Messages
301
Gender
Male
Religious Affiliation
Non-Denominational
Acceptance of the Trinity & Nicene Creed
Yes
I sometimes wonder it these people did a cost benefit analysis of the degree they were pursuing in the first place to make sure it was positive and not negative, or at least neutral, so that they would be ahead with sufficient income to live on comfortably after making the payments.

Maybe our primary educational system is failing to teach essential living skills, particularly financial management ones.
 
Lamb

Lamb

God's Lil Lamb
Community Team
Administrator
Supporting Member
Joined
Jun 10, 2015
Messages
33,305
Age
58
Gender
Female
Religious Affiliation
Lutheran
Political Affiliation
Conservative
Marital Status
Married
Acceptance of the Trinity & Nicene Creed
Yes
Frankj said:
I sometimes wonder it these people did a cost benefit analysis of the degree they were pursuing in the first place to make sure it was positive and not negative, or at least neutral, so that they would be ahead with sufficient income to live on comfortably after making the payments.

Maybe our primary educational system is failing to teach essential living skills, particularly financial management ones.
Click to expand...

This is exactly part of the problem for some...not all. My daughter wanted to go to grad school to be an art therapist. She would have spent thousands of dollars for a career that would max get $40,000 a year (at that time). It totally would have been a waste unless she truly felt she wanted to help people and years later she told me she didn't think she would have stuck it out with that career, so she made a good choice to do other things. She has a good paying job now doing user interface and user experience design and she took classes after she finished classes for this type of job. She seems happy.
 
tango

tango

... and you shall live ...
Valued Contributor
Joined
Jul 13, 2015
Messages
14,977
Location
Somewhere Nice Not Nice
Gender
Male
Religious Affiliation
Christian
Marital Status
Married
Acceptance of the Trinity & Nicene Creed
Yes
Frankj said:
I sometimes wonder it these people did a cost benefit analysis of the degree they were pursuing in the first place to make sure it was positive and not negative, or at least neutral, so that they would be ahead with sufficient income to live on comfortably after making the payments.

Maybe our primary educational system is failing to teach essential living skills, particularly financial management ones.
Click to expand...

It's remarkable how little financial literacy there seems to be lately. Only recently I was talking through some pretty basic stuff about personal finance with a friend of ours in his 40s, who commented nobody ever taught him anything about this before.

You'd almost be forgiven there's some kind of vested interest in people not knowing how credit cards work and how to avoid getting in over their heads.
 
N

NewCreation435

Well-known member
Valued Contributor
Joined
Jul 13, 2015
Messages
5,072
Gender
Male
Religious Affiliation
Christian
Political Affiliation
Conservative
Marital Status
Married
Acceptance of the Trinity & Nicene Creed
Yes
Frankj said:
I sometimes wonder it these people did a cost benefit analysis of the degree they were pursuing in the first place to make sure it was positive and not negative, or at least neutral, so that they would be ahead with sufficient income to live on comfortably after making the payments.

Maybe our primary educational system is failing to teach essential living skills, particularly financial management ones.
Click to expand...
I don't think there is any doubt about it that the educational system is failing kids and parents
 
You must log in or register to reply here.
Top Bottom