What Should Be Done About the Coming Tsunami of Student Loan Defaults?

The Growing “Tsunami” of Student Loan Defaults - Revolutionary Communists of America

Throughout childhood, we were told a college education is the path to financial success. Forget about the exorbitant price tag, they said. A degree will open up lucrative opportunities, which are well worth the debt you’ll accrue. But in today’s job market, graduates are having doors slammed in their faces. All they’re left with is crippling student debt.

What Should Be Done About the Coming Tsunami of Student Loan Defaults?

There is a massive tsunami of student loan defaults on the horizon. The Department of Education (ED) recently noted that 1,800 colleges—out of around 5,500—have at least 25 percent of their recent student loan borrowers failing to repay their student loans. If that remains the case into next year, many of these colleges will be […]