The third part of the Student Loan Crisis series examines the economic factors that catalyzed the Loan Crisis and also looks at the impacts of those factors as the crisis evolves. From rising tuition costs and wage stagnation to COVID and recessions, many factors affect the ability of students to pay back their loans. And as the last 20 years have been some of the most tumultuous in recent history... it is no surprise that loan repayment has been so negatively influenced.
#studentloandcrisis #loanforgiveness #endstudentdebt
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Sources Links to Check Out
NYT Magazine Article - Comprehensive
https://www.nytimes.com/2015/09/13/magazine/is-college-tuition-too-high.html?_r=0&fbclid=IwAR0EOpsoo-QWf5ztl-1Qz1GDs1fqjsY3Xgo7U7yf2uzxkGc8zjBflJSVEqI
Student Loan Monthly Payments By Loan Type
https://www.credible.com/blog/refinance-student-loans/how-much-will-you-actually-pay-for-a-30k-student-loan/
Average Time to Repay Loans
https://www.credible.com/blog/statistics/average-time-to-repay-student-loans-statistics/?fbclid=IwAR3FyhathBWqQS2AX6eXwNOdLQQPeyOMQq5uggX_dKie3MCsjYujihJsH2c#:~:text=According%20to%20NCES'%20analysis%20of,25%25%20of%20population%3A%2024.5%25
Master’s Degree Requirement for Jobs
https://www.fastcompany.com/3057941/how-the-masters-degree-became-the-new-bachelors-in-the-hiring-world?fbclid=IwAR3Yk3bk2MO2L4JLDKLcF2-kLWu-Fci6OHDCuycUFS_pkHnv1GayQfPgabc
Bankruptcy Info
https://www.experian.com/blogs/ask-experian/credit-education/bankruptcy-how-it-works-types-and-consequences/
More Bankruptcy Info
https://www.npr.org/2020/01/22/797330613/myth-busted-turns-out-bankruptcy-can-wipe-out-student-loan-debt-after-all
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