{"id":32322,"date":"2012-09-10T08:21:53","date_gmt":"2012-09-10T12:21:53","guid":{"rendered":"http:\/\/danielschristian.com\/learning-ecosystems\/?p=32322"},"modified":"2012-09-10T10:42:36","modified_gmt":"2012-09-10T14:42:36","slug":"debt-collectors-cashing-in-on-student-loans-martin","status":"publish","type":"post","link":"http:\/\/danielschristian.com\/learning-ecosystems\/2012\/09\/10\/debt-collectors-cashing-in-on-student-loans-martin\/","title":{"rendered":"Debt collectors cashing in on student loans [Martin]"},"content":{"rendered":"

Debt collectors cashing in on student loans<\/strong><\/a> — from the New York Times by Andrew Martin<\/p>\n

Excerpt (emphasis DSC<\/span>):<\/em><\/p>\n

…many borrowers are struggling to pay off their student loans, and the debt collection industry is cashing in.<\/p>\n

As the number of people taking out government-backed student loans has exploded, so has the number who have fallen at least 12 months behind in making payments \u2014 about 5.9 million people nationwide, up about a third in the last five years.<\/p>\n

In all, nearly one in every six borrowers with a loan balance is in default. The amount of defaulted loans \u2014 $76 billion \u2014 is greater than the yearly tuition bill for all students at public two- and four-year colleges and universities,<\/span><\/strong> according to a survey of state education officials.<\/p>\n

In an attempt to recover money on the defaulted loans, the Education Department paid more than $1.4 billion last fiscal year to collection agencies and other groups<\/span> <\/strong>to hunt down defaulters.<\/p>\n

 <\/p>\n

From DSC:<\/strong><\/span>
\n Administrators throughout the country need to ask, how can we cut the price of our degrees by 50% or more?\u00a0 No kidding! \u00a0<\/strong>I realize that sounds crazy, but if we don’t do this, cheaper — and increasingly attractive\/convenient — alternatives will continue to develop.<\/span> The conversation is not moving in a positive direction folks.<\/a><\/strong><\/em>\u00a0 There is a limit to people’s incomes and patience here.<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Debt collectors cashing in on student loans — from the New York Times by Andrew Martin Excerpt (emphasis DSC): …many borrowers are struggling to pay off their student loans, and the debt collection industry is cashing in. As the number of people taking out government-backed student loans has exploded, so has the number who have […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[57,159,72,36,35,3,436,480,310,66,321],"tags":[52,290,653,606,586,585,779,792,722,603,728,572],"class_list":["post-32322","post","type-post","status-publish","format-standard","hentry","category-cost-of-getting-a-degree","category-dangers-of-the-status-quo","category-daniel-s-christian","category-future-of-higher-education","category-game-changing-environment","category-higher-education","category-reinvent","category-society","category-staying-relevant","category-student-related","category-united-states","tag-budgetary","tag-cost-of-getting-an-education","tag-dangers-of-the-status-quo","tag-daniel-s-christian","tag-future-of-higher-education","tag-game-changing-environment","tag-reinvent","tag-society","tag-staying-relevant","tag-student-related","tag-united-states","tag-walmart-of-education"],"_links":{"self":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/32322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/comments?post=32322"}],"version-history":[{"count":9,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/32322\/revisions"}],"predecessor-version":[{"id":32350,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/32322\/revisions\/32350"}],"wp:attachment":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/media?parent=32322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/categories?post=32322"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/tags?post=32322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}