Theres big trouble brewing in the world of student loans, and many people dont even realize it.
Right now, the student loan default rate for that group is around 25%.
Comparing the numbers, you’re able to see were in for a major increase in defaults.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
These types of institutions include the controversial and now shuttered ITT Technical Institute, Corinthian College and DeVry University.
Its largely due to labor market thats less favorable for these graduates, according toa previous Brookings study.
But what should you do if youre among the millions of students weve discussed so far?
What Can I Do if Im Heading Toward Student Loan Default?
First, if youre struggling to pay back your student debt, youre not alone.
Then, to save some extra cash, trysavings apps or start a side hustle.
You may also consider moving back home if thats an option,like Kelly Russell.
Alex Mahadevan is a data journalist at The Penny Hoarder.
It sounds appealing right?
Check it out here!
