Thursday, March 8, 2012
A report released Monday by the Federal Reserve Bank of New York renews concerns about the growing debt load of college students and graduates.
The report suggests that as many as 27 percent of the 37 million borrowers have past-due balances of 30 days or more.
“In sum, student loan debt is not just a concern for the young,” the report said. “Parents and the federal government shoulder a substantial part of the postsecondary education bill.”
Grim news, especially when we realize that law students are accruing debt on top of their undergraduate debt. Here is the story from the New York Times.