This more bad news for the housing market. More and more young people with bad credit who won’t be buying houses for a long long time.
My wife and I pay around $500 a month for student loans. Most of them are hers, as I had a scholarship.
The whole system is nuts. Kids graduating today in our fields end up with $1000 a month payments, and little hope of a job that can cover that. The education is going to pop, and pop hard.