The graphic below from this story at Vox serves as a timely reminder that, while much of the rest of the U.S. credit market continues to improve after a multi-year bout of deleveraging, student loans are an ongoing problem for many Americans, both young and old.
There are more and more reports of senior citizens having trouble paying back student loans (mostly as co-signers) and, lately, of social security checks being garnished when these co-borrowers fall behind.
The other charts in the Vox story are even more interesting than the one above, particularly the last one that really doesn’t paint for-profit higher education in a positive light.
