"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Nearly 40% Of Student Loan Borrowers To Default By 2023
"The analysis 'suggests that nearly 40% of borrowers may default on their student loans by 2023,' a staggering number if one assumes the TBAC's forecast that there will be roughly $2.5 trillion in student loans outstanding by 2020 (see chart above). It would mean that no less than $1 trillion in student loans will be in some form of default in two years, an outcome which will necessitate another indirect, if ultimately taxpayer funded bailout from the US treasury: recall that the vast majority of student debt is currently issued by the US government."
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