In response to:

Student-Loan Delinquencies Surpass Credit Cards

feawen Wrote: Nov 30, 2012 12:18 AM
As with any issue, there are many sides and also just as many possible solutions. In 1983, newly divorced with two children to support and few factory jobs available, I leaped into the old *promise* that a good education = a secure future. I graduated in 1989 and by 1997 I experienced no less than 5 layoffs, periods of unemployment, several moves (homeless at one point), and the loan went into default. Got a job at Walmart (cashier) and paid my loan for the 10 years I was there. I have paid back almost $17,000. but still owe $16,500. on that $12,000. loan. Frankly I'm tired and can't jog through quicksand anymore. Promise? No.. It's a Nightmare!! There is no light at the end of the loan tunnel... no wonder people just give up.

As costs of college soars (with thanks to absurd union salaries and benefits, as well as absurd administrator salaries and benefits), those attending college have increasing trouble paying back loans.

The fully expected consequence is Student-Loan Delinquencies Now Surpass Credit Cards.

The proportion of U.S. student loan balances that are in delinquency — that is, unpaid for 90 days or more — surpassed that of credit-card balances in the third quarter for the first time, according...