Millions in default on student loans as debt crisis grows
Millions in default on student loans as debt crisis grows
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Millions in default on student loans as debt crisis grows
Colorado borrowers among those facing federal collection powers as payments resume
Jack Wallace, Director of Government and Lender Relations at Yrefy, said the financial picture for American consumers is concerning.
“The American consumer is not in good shape today,” Wallace said. “We have over 1.8 trillion in student loans. Auto debt is over 1.5 trillion. Credit card debt is back up. It’s up to 1.3 trillion.”