Student Debt Is More Subprime Than Ever

Student Debt Is More Subprime Than Ever
World •

Student Debt Is More Subprime Than Ever

Student debt continues to rise as more and more student loans fall into the “subprime” category —meaning they are very unlikely to be paid back.

From WSJ:

“In all, 33% of all subprime student loans in repayment were 90 days or more past due in March 2012, up from 24% in 2007, according to a Wednesday report by TransUnion LLC.

Meanwhile, the Chicago-based credit bureau found that 33% of the almost $900 billion in outstanding student loans was held by subprime, or the riskiest, borrowers as of March 2012, up from 31% in 2007.”

With the economy on an unexpected downturn, things are starting to look worse than ever.

Paul Hudson | Elite. 

Share Tweet
Prev Story

Next Story

More In World

World

WWE Star Kane May Run For US Senate In Tennessee

Straight out of parts unknown, Kane has been terrorizing the WWE for two decades. Now, Glenn Jacobs is potentially looking to step out of the ring and into Congress. The former World Heavyweight Champion and current Tag Team Champion is said to be looking to supersede Tennessee Senator Lamar Alexander, who has held the position [...]

World

New Study Reveals Smoking Weed Reduces The Risk Of Diabetes

A new study has found that marijuana could reduce the risk for diabetes. Marijuana users take in more food calories than nonusers, but recent research has found that for some reason, marijuana users also have lower body mass index levels than nonusers. Lower body mass index means lower risk for obesity, diabetes and various other weight-related [...]

World

Woman Working At McDonald’s Spots Her Stolen Car Ordering At The Drive Thru

Virginia Maiden of Washington state woke up for work on Tuesday to find out that her SUV had been stolen. Confused and livid, she sucked it up and hitched a ride to McDonald’s where she works. A few hours later she noticed a familiar vehicle entering the drive-thru. She spotted her McDonald’s visor in the car’s [...]

Also On Elite

Technology

Snapchat Usage Reaches An Outstanding 150 Million Messages A Day

Usage of the photo app Snapchat is growing exponentially. When it first debuted late last year, Snapchat quickly attained a few million users who helped raise millions of dollars for investors. Two months ago, a reported total of 60 million photo messages in the average day were sent through Snapchat. That number has now risen [...]

World

BBC Uses Students Studying Abroad As Cover To Gain Access To North Korea

The BBC gained the ability to travel to North Korea last month by using a London School of Economics student group as a cover for a few reporters to pose as professors, literally risking the lives of the students in the process. The kids, however, were not in on the plan. The school thought it [...]

Entertainment

The Top 15 Movies To Look Forward To In Summer 2013

In a galaxy far, far away there is someone wishing that they had the same Summer 2013 movie lineup as we do. This summer will be loaded with blockbuster hits, as some of your favorite characters make their return to the big screen including Ironman, Superman, Jay Gatsby, and The Wolfpack. There is no doubt [...]

World

Don’t Text And Fly! Texting Linked To Commercial Aircraft Crash For First Time

Authorities have determined that a deadly helicopter crash that occurred roughly two years ago could have been avoided had it not been for the pilot’s excessive texting while flying the chopper. In August of 2011, James Freudenberg was piloting a LifeNet medical helicopter carrying a patient and two nurses when the aircraft ran out of [...]

Gentlemen

Will She Bang You?

Knowing if a girl is going to sleep with you is extremely important – it saves you time, money and the wasted opportunity of sticking your dick in some other girl’s pussy. I’m sure most guys would like to know sooner rather than later if the girl you’ve invested a month of your weekends in [...]