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The Student Loan Crisis and Its Impact on Seniors and the Economy
The Philadelphia Inquirer, in a post on their website, takes a look at the $1.5 trillion student loan debt burdening the economy…a debt level that is twice the credit card debt level held by Americans. In addition to highlighting the drag on our economy caused by this debt, the article written by Moody’s Analytics chief economist Mark Zandi underscores the impact on all segments of the population, including seniors managing their own debt as well as dept created in support of their children and grandchildren. Zandi provides suggestions on how best over the long term for the economy to work its way out of this situation, one of which focuses on ways to ensure that “no institution of so-called higher learning offers a door into unsustainable debt.” Read Zandi’s insightful article here…