Student Loan Defaults Rise

The long reach of the recession continues.

We are aware of so many aspects of this reach - foreign house buying tours in America to buy up cheap property, tent cities for the unemployed and growing homeless population, a shrinking of arts related non profits where the funding is now gone, a spike in violence, animals left out to dry, retirees losing their retirement dividends, countless foreclosures, etc etc etc.

Now throw student loan defaults onto the fire. Roughly 1 in every 14 student loans is going into default.

WSJ: Student-Loan Default Rate Rises

...a jump in the student-loan default rate to 6.9%, from 5.2% a year earlier.