Student Defaults News Today : Breaking News, Live Updates & Top Stories | Vimarsana

At the interest rates on these college loans. they are absurdly high whereas if these youngsters could get a little bit of money saved or whatever they couldn't get any interest on their money if they loaned it to the government or put it in a bank or that sort of thing. >> i know are you not a numbers guy -- >> no, no. >> 43% of 25-year-old have student debt in 2012, up to 27% in 2004. almost double. the number of student defaults rose from 4.6% in 2005 to 9.1%. it is the number two reason for debt in this had country after mortgages surpassing credit card debt. this could be a generation los...

Banks are getting upwards of $9 billion a year. secondly, if a student defaults, we are still responsible. so the banks, frankly, are a pass-through. so that's really the difference here, and so the federal government was already providing student loans anyway. right now some 2,300 universities are participating in the direct student loan program from the department of education, according to the obama administration up to 1,000 colleges a few years ago. so if you're a high school student, if you're a parent, someone in college, at the end of the day you get more money. but also, we can't leav...