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Student loan defaults increasing


I do not get any joy out of being the bearer of bad news.  But here goes.  Unfortunately, statistics released by the Department of Education on Monday of this week indicate that student loan defaults are increasing.  The report released by the Department of Education revealed that defaults on student loan debt during 2012 were at the highest percentages in twenty years.  The Department of Education noted that defaults were highest amongst graduates of the for profit colleges in this country.  Nevertheless, defaults amongst graduates from nonprofit public and private schools were still at a twenty year high.

There unfortunately appears to be no end in sight either.  Recent economic news does not establish a basis to conclude that, at least in the short term, recent graduates will have better economic fortunes that will enable them to stay out of default.

With that in mind, I note that I can provide legal advice and services to those of you reading this post who are in fear of going into default on your student loans, or those of you who already have.   Just contact me via the contact form on this site and I will be more than happy to help.


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