Published on Oct 6, 2013 by The Young Turks
“About one in seven borrowers defaulted on their federal student loans, showing how former students are buckling under higher-education costs in a weak economy.
The default rate, for the first three years that students are required to make payments, was 14.7 percent, up from 13.4 percent the year before, the U.S. Education Department said today. Based on a related measure, defaults are at the highest level since 1995.”* The Young Turks hosts Cenk Uygur and Ana Kasparian break it down.
*Read more here from Janet Lorin & John Hechinger / Bloomberg: