Wednesday, 7 March 2012

Report on college loan delinquency rate raises alarms

As many as 1 in 4 borrowers was carrying a past-due student loan balance in the third quarter, a much higher delinquency rate than previously thought, according to the Federal Reserve Bank of New York.

Some experts have called the nation's soaring college debt load a "ticking time bomb" — a looming crisis threatening young adults, their families and the broader economy.

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