Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

One-Third of Student Loans Are Subprime Loans

IMG Auteur
Published : February 04th, 2013
269 words - Reading time : 0 - 1 minutes
( 1 vote, 5/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
FOLLOW : Subprime
Category : Opinions and Analysis

Simply deleting this item from the Drafts folder about a Wall Street Journal story last week that, along with a lot of other anecdotal and statistical data in recent months, suggests a looming disaster for student loans in this great nation … well, that just didn’t seem like a wise thing to do.

The number of student loans held by subprime borrowers is growing, and more of those loans are souring, the latest signs that a weak job market and rising debt loads are squeezing recent graduates.

24hGold - One-Third of Student...


In all, 33% of all subprime student loans in repayment were 90 days or more past due in March 2012, up from 24% in 2007, according to a Wednesday report by TransUnion LLC.

Meanwhile, the Chicago-based credit bureau found that 33% of the almost $900 billion in outstanding student loans was held by subprime, or the riskiest, borrowers as of March 2012, up from 31% in 2007.

“If you become subprime, it’s more likely that you will not pay your debt,” said TransUnion Vice President Ezra Becker, who oversaw the study.

Indeed, Mr. Becker. As you may have guessed, some of these borrowers weren’t subprime borrowers until they took out student loans, quit college, and then (for obvious reasons) started missing loan payments.

While the study didn’t provide any details, my guess is that the percentage who became subprime borrowers due to their student loans is very high simply because, at that age, you can rack up a lot of student loan debt, but, as I recall, credit card companies normally don’t give you a big enough rope to hang yourself with.


<< Previous article
Rate :Average :5 (1 vote)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Napoleon vs. Cheney: "Interrogat...
18 Decwalmarde
Torture just put the moral line lower. Lets think about American exceptionalism. What we want ? we want to spread and defend that exceptio...
Napoleon vs. Cheney: "Interrogat...
18 Decwalmarde
Utilitarianism is bad philosphy. I'm also very disgust about torture. It will backfire in our face. We are now no better than ou...
Napoleon vs. Cheney: "Interrogat...
18 DecJosu O.5
I cannot overstate how important is that every american read this article. It's absolutely wonderful how you have summarized every aspect around to...
Muslim terrorism, the left and t...
18 Decend0
Does anyone still wonder why is Australia hotbed for second generation Muslim migrant radicalization? Does anyone still need an explanation on why ...
Gold & Silver Market Morning
17 Decsamking731
Gypsie, my take on what he's saying is on paper gold, not actual gold that you are holding in your hand. In that way, gold is gold, though Pandas ...
Gold & Silver Market Morning
17 DecGypsy1
You have me confused Julian. When you say "We believe that holders of gold in the Ruble. . . . ." I take it you are not talking about someone hold...
Gold Price chart showing big dro...
17 Decuser47791
The article ludicrously misinterprets the chart. What the chart shows is the market price of German Aktien, namely shares in British or stocks in A...
New Poll Shows US Citizens in Ev...
17 DecJosu O.1
It's very sad to see such support of torture in USA. What is incredible is that a lot of those people consider themselves christians and nice peopl...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Comments closed
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.