January 4th, 2012 — 6:04am
According to an article from USA Today the default rate on federal student loans ranges from 15.96% in Arizona to a low of 3.39% in North Dakota. Behind Arizona, the states with the highest default rates include Arkansas, Indiana, Iowa, Colorado, Oklahoma, Florida,Kentucky,Wyoming , Texas and Mississippi - all above 10% . Click here if you would like to take a look at the map and see how your state measures up.
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January 1st, 2012 — 9:38pm
There was an interesting article by Mary Umburger in the Chicago Tribune on December 30 about the massive student loan debt and the problems it is currently causing, and may cause in the future. The article quotes the website FinAid.org, who says that the total student loan debt is growing at $2,800 per second. Thats right, per second. The article points out that student loan debt is causing young people to put off buying their first home. Mary writes “The homeownership rate for people 25 to 29 is at its lowest level since 1999, and for 30- to 34-year-olds it’s the lowest rate in 17 years”. She also states that 6 million 25-35 year olds are living with their parents.
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