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Student Loan Debt: The Next Subprime Bubble to Burst?

Student Loan Debt

I just finished watching the Frontline PBS show College, Inc. about for-profit education and the resulting student loan debt.

It was estimated that students in for-profit colleges will graduate with double the amount of student loan debt as compared to a traditional university.

The default rate was alarming as well. For-profit colleges account for 10% of students but 44% of student loan defaults.

Readers will recognize that I have always been critical of student loan debt. Why? For most students, the resulting debt is debilitating.

Many people would be surprised to learn that outstanding student loan debt is just about the same as all outstanding credit card debt. And also surprising, about 75% of students that start school never finish with a college degree.

If you would like to watch the College, Inc. show, click here.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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