13 Aug '11, 4am

Student Loan Debt Could Cause the Next Financial Crisis

Student Loan Debt Could Cause the Next Financial Crisis

Student loans may be a financial bubble that’s about to burst , warned Moody’s Analytics in a report released in July . As students graduate with greater debt and fewer job prospects, these “speculative” loans, which are based on the expectation that an investment in education will enable the student to repay his or her debt, are increasingly dangerous. The average 2011 college graduate carries $27,000 in debt, and that number is only likely to increase as tuitions rise and states slash funding for colleges and universities. “Unless students limit their debt burdens, choose fields of study that are in demand, and successfully complete their degrees on time, they will find themselves in worse financial positions and unable to earn the projected income that justified taking out their loans in the first place,” Moody’s warned . This certainly contradicts the mantra that I hea...

Full article: http://www.care2.com/causes/student-loan-debt-could-cause...

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