This is how
badly we're managing our
student debt
Government-backed student*debt is big business: About one in six U.S. adults has a
student loan owned or guaranteed by taxpayers, and the feds pay their contracted loan servicers and
debt collectors close to $2 billion annually to counsel borrowers on their repayment options and collect monthly payments on nearly $1.3 trillion of federal
student debt.
The U.S. Department of Education
updates the public every three months on
how borrowers are faring with their federal
student loans
Bloomberg crunched the numbers on where the federal
student loan portfolio stood as of June 30. Here's what we found.
Read more...
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Debt,
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