what happens with the loans that default....and are never repaid?
who pays for those?
just another line item on the budget?
the rate is at 6% because not every student pays them back
again....20+ pages of bitching that 6% rates are too high is about as much as i can take
thank god your precious little daughter didnt have to get a loan in the early eighties!!
“Most of the shadows of this life are caused by standing in one's own sunshine.”
Ralph Waldo Emerson
“The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman
1. It is a very remarkable rate of recovery when compared to the auto industry recovery rate of 40 to 60 percent. And those comparatively low rates are considered good. This is because of the harsh punishment that is imposed in case of default on student loans.
2. You have simply ignored that all of the loans do not default. If I recall correctly, 86 percent of them do not default at all.
Auto loan default rate of 1.06% for calendar 2015.
Greatness lies not in being strong, but in the right use of strength - Henry Ward Beecher
Baby sister, I was born game and I intend to go out that way - Rooster Cogburn