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The default rate for college loans has risen sharply in California and the rest of the country, from 7% in 2008 to 8.8% in 2009. For-profit colleges have both the highest and fastest-growing rates of default. The Sacramento Bee has a useful chart showing the default rate for California colleges. The highest is the [...] Now our economy is facing the biggest student loan debt bubble in the history of the world, and when our new college graduates enter the “real world” they are finding out that the good jobs they were promised are very few and far between. Then they discover they are tens of thousands of dollars [...] Kelli Space graduated from Northwestern, financed by Sallie Mae. She owes almost $200,000. Tuition there is $14,000 a quarter, or $38,000 for three quarters x 4 years, which totals $152,000. So she wasn’t a spendthrift, not at all. Now she has crippling debt for decades into the future. Student loans are not dischargable by [...] |  | ||||
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