Academic

STUDENT LOANS AND THE SECOND RECESSION: ?The banking industry fell into collapse after a series of ?

By Glenn Reynolds

STUDENT LOANS AND THE SECOND RECESSION: “The banking industry fell into collapse after a series of defaulted home loans, but what about the student loans granted at the same time? At the same time the banking industry was supplying people with loans without verifying that they could afford them, the same thing was happening with student loans. Many students were permitted to borrow tens of thousands of dollars on the expectation of their future earnings. Today, those same students are coming to the end of degrees, or just graduating, with no idea how they will repay their debts.”

Full post as published by Instapundit.com on June 08, 2010 (boomark / email).