student loan forgiveness act 2012

Student Loan Crisis Worsens, Top 1% of Borrowers Owe More Than $150K

Student loans are kind of a hidden aspect of economic strife, because while a new car or home when income is dissonant is pretty obvious, you can never tell if someone you know paid a ton of money for college only to wind up working at the Steak n’ Shake when they graduated into a weak job market.

It’s also a bit terrifying that the way we used to talk about the housing bubble- you know, before the economy imploded in a ball of flames and stayed that way forever- is now the insistent and increasingly dire style of prediction emerging about the future of student loans and the economy. Recent reports have indicated that unpaid student loans have passed the one trillion dollar mark, and lawmakers are currently trying to find ways to head off a supposed coming crisis at the pass with measures such as the Student Loan Forgiveness Act proposed to deal with the problem.