Infinite Unknown

- The US Student Loan Bubble Broken Down By State, And Why Washington D.C. Sticks Out Like A Sore Thumb (ZeroHedge, May 15, 2013)

Tags: Bubble, Collapse, Economy, Global News, Society, Students

- Presenting The College Whose Graduates Have A 62% Student Loan Default Rate (ZeroHedge, Feb 19, 2013):

It is common knowledge by now that the US has a student loan problem. Specifically, a subprime-sized, student loan default problem, which as was reported last year, has now surpassed a 23% default rate at “for profit” institutions. Yet as all statistical measures, this one too deals in means and medians: very boring, impersonal metrics. Where the truly stunning data emerge is when one performs a granular college by college analysis of the US higher learning system, which is precisely what the WSJ has done, breaking down some 3500 colleges and universities by annual cost, graduation rate, median amount borrowed and most importantly, student-loan default rate. In this context we feel quite bad for the students who graduate from ICPR Junior College of Puerto Rico (or rather the 52% of them who graduate), with a modest $2,250 in student loans to cover the otherwise manageable tuition of $7,158, as a mindboggling 62% of them end up defaulting on their loans!

…

Tags: Bubble, Debt, Economy, Global News, Society, Students, U.S.

- Student Loan Bubble Forces Yale, Penn To Sue Their Own Students (ZeroHedge, Feb 5, 2013):

We have not been shy about exposing the massive (and unsustainable) bubble of credit being blown into the economy via Student Loans from the government. We have not been afraid to note the dramatic rise in delinquencies among these loans – and the implications for the government. However, as Bloomberg reports, it appears the impact of this exuberance has come back to bite the colleges themselves. In what can only be described as a vendor-financing model, the so-called Perkins loans (for students with extraordinary financial hardships) have seen defaults surging more than 20%. The vicious circle, though, has begun as the ponzi of using these revolving loan funds to ‘fund’ the next round of students is collapsing thanks to the rise in delinquencies. Schools such as Yale, Penn, and George Washington are becoming very aggressive at going after delinquent student borrowers. While financially hard-up graduates complain of no jobs, the schools are not impressed: “You could take a job at Subway or wherever to pay the bills … It seems like basic responsibility to me,” but perhaps that is the point – avoiding responsibility is seemingly rewarded in the new normal.

Via Bloomberg,

Yale Suing Former Students Shows Crisis in Loans to Poor

Needy U.S. borrowers are defaulting on almost $1 billion in federal student loans earmarked for the poor, leaving schools such as Yale University and the University of Pennsylvania with little choice except to sue their graduates.

The record defaults on federal Perkins loans may jeopardize the prospects of current students since they are part of a revolving fund that colleges give to students who show extraordinary financial hardship.

Continue reading »

Tags: Barack Obama, Bubble, Collapse, Economy, Global News, Government, Obama administration, Politics, Students, U.S.

- Here Comes The Student Loan Bailout (ZeroHedge, Jan 5, 2013):

2012 is the year the student loan bubble finally popped. While on one hand the relentlessly rising total Federal student debt crossed $956 billion as of September 30, and was growing at a pace that will have put it over $1 trillion by the end of 2012, the one data point confirming the size, severity and ultimately bursting of this latest debt bubble was the disclosure in late November by the Fed that the percentage of 90+ day delinquent loans soared from under 9% to 11% in one quarter.

Which is why we were not surprised to learn that the Federal government has now delivered yet another bailout program: this time focusing not on banks, or homeowners who bought McMansions and decided to not pay their mortgage, but on those millions of Americans, aged 18 to 80, that are drowning in student debt – debt, incidentally, which has been used to pay for drugs, motorcycles, games, tattoos, not to mention countless iProducts. Which also means that since there is no free lunch, all that will happen is that even more Federal Debt will be tacked on to replace discharged student debt loans, up to the total $1 trillion which will promptly soar far higher as more Americans take advantage of this latest government handout. But when the US will already have $22 trillion in debt this time in four years, who really is counting? After all, “it is only fair” that the taxpayer funded “free for all” bonanza must go on.

Continue reading »

Tags: Bailout, Barack Obama, Debt, Economy, Global News, Government, Obama administration, Politics, Students, U.S.

- Sorry (Poor) Kids: The Road From Rags To Riches No Longer Passes Through College (ZeroHedge, Dec 19, 2012):

… at least statistically speaking. Yes, outlier cases will always exist and there will always be a rags to Geology 101 to riches story somewhere, but as the following fascinating and very much damning (the entire higher learning industry of the US) diagram from Reuters demonstrates, colleges, in their once vaunted role of a “great equalizer for the classes” as defined over a century ago by Horace Mann, no longer exist.The chart in question?

What does the above chart imply? Nothing more than that for the vast majority of people, college degrees are the modern-day equivalent of very, very expensive snake oil.

Continue reading »

Tags: Economy, Education, Global News, Society, Students, U.S.

- Number of homeless students hits new record: Over 1 million (RT, Dec 18, 2012):

The number of homeless students in America topped one million for the first time last year as a result of the economic recession, a number that has risen 57 percent since 2007.

The US Department of Education found that of these 1,065,794 children, many lived in abandoned homes, cheap hotels, stations, church basements and hospitals. Some spent their time sleeping over at the houses of various friends whenever they could. Others fell victim to drugs and sexual abuse, in some cases trading sexual acts for food, clothing and shelter or selling illegal drugs.

Continue reading »

Tags: Collapse, Education, Global News, Society, Students, U.S.

- ‘Sex for student fees’ man unmasked to be IT consultant ‘with top-level MoD security clearance’ (Independent, Dec 6, 2012)

Tags: Global News, Government, Military, Politics, Sex, Society, Students, U.K.

See also:

- America’s Lost Decade In One Simple Chart

- The Scariest Chart Of The Quarter: Student Debt Bubble Officially Pops As 90+ Day Delinquency Rate Goes Parabolic (ZeroHedge, Nov 27, 2012):

We have already discussed the student loan bubble, and its popping previously, most extensively in this article. Today, we get the Q3 consumer credit breakdown update courtesy of the NY Fed’s quarterly credit breakdown. And it is quite ghastly. As of September 30, Federal (not total, just Federal) rose to a gargantuan $956 billion, an increase of $42 billion in the quarter – the biggest quarterly update since 2006.

But this is no surprise to anyone who read our latest piece on the topic. What also shouldn’t be a surprise, at least to our readers who read about it here first, but what will stun the general public are the two charts below, the first of which shows the amount of 90+ day student loan delinquencies, and the second shows the amount of newly delinquent 30+ day student loan balances. The charts speak for themselves.

This is how the Fed described this “anomaly”:

Outstanding student loan debt now stands at $956 billion, an increase of $42 billion since last quarter.  However, of the $42 billion, $23 billion is new debt while the remaining $19 billion is attributed to previously defaulted student loans that have been updated on credit reports this quarter. As a result, the percent of student loan balances 90+ days delinquent increased to 11 percent this quarter.

oh and this from footnote 2: Continue reading »

Tags: Bubble, Collapse, Economy, Global News, Society, Students, U.S.

YouTube Added: 02.08.2012

Tags: 1984, 9/11, Agenda 21, Arizona, Banking, Big Brother, Bilderberg, Bill of Rights, Climate Change, CO2, Constitution, Corporate Media, DHS, Dictatorship, Economy, Education, Fascism, Fed, Federal Reserve, George Orwell, Global News, Global Warming, Government, HAARP, Homeland Security, Hurricane Katrina, Janet Napolitano, Law, Leuren Moret, Mind-Control, Mortgage crisis, Mortgages, NEW ORLEANS, New World Order, Police State, Politics, RFID, Science, Smart Meters, Society, Students, Technology, Terrorism, Treason, U.S.

- Student loan debt hits record high, study shows (NBC News, Oct 18, 2012):

The average college student who graduated in 2011 had $26,600 in student loans, according to a new report, which estimates two-thirds of last year’s college graduates had student loan debt.

The average debt is the largest since the Institute for College Access and Success began compiling the figures in 2005, and it comes amid soaring college costs, record loan defaults, and a persistently difficult job market for college graduates.

While unemployment among college graduates is only slightly higher than the overall rate, the study found a stunning 37.8 percent of recent graduates are working in jobs that do not require a college degree. The study said that means wages are depressed, making the situation for graduates even more difficult.

Continue reading »

Tags: Bubble, Collapse, Economy, Global News, Society, Students, U.S.