So we should be worried only about 8% of the 1.5 trillion is outstanding student loans?
That is a relief but it is still a lot of dough. And I am not so sure the federal loans are going to be so easy to manage for the other 92% of student borrowers. I just don’t think we should ignore the Forbes article and put our heads in the sand. This is gonna be a problem. The size of student debt was a huge problem before the COVID recession. The existence of many for profit schools that encourage student borrowing is a huge problem. Many students don’t graduate from these schools and can never pay off the loans. Many that do graduate can’t find the promised jobs to pay off the loans. These facts were present before COVID and will only get worst in the current recession. Most on this website don’t send their kids to those types of schools so it easy to ignore the problems they create. And of course most colleges are not for profit, but kids still have to repay those loans as well.
Here is a link to a 2018 Forbes article covering for profit colleges.