well student dead yes it's hit the one
trillion dollar mark but it's a little
bit overstated
it's not really that big of a deal
this uh... study i guess this is by the
uh... new york said
shows uh...
of very disturbing trend in student debt
that it actually affects
middle-aged people more than anyone else
and i guess the other uh...
disturbing part of that is that i'm
middle-aged
according to this student that is rising
sharply among all age groups
however the delinquency rate
which of course is the uh... percentage
a debt in which no
payment has been made up to acting dad
ninety days or after ninety days
was eleven point nine percent for debt
held by borrowers age forty two forty
nine
as of march of this year
beckham pairs with a rate
overall
of eight point seven percent
the delinquency rates of for all groups
are much higher if one excludes loans in
deferment for reasons such as a borrower
still being in school
um...
sab easily when you're in school your
repayment is deferred
two-thirds of the nation's nine hundred
billion dollar in student debt is held
by americans under forty
so understand what happens here
that's not quite clear that
this is a historical trend
but there's evidence that believe that
the that student debt becomes most
difficult uh... to bear
in your forties
and if we have two thirds of student at
the debt held by people under
the age of forty
we're going to be headed into a tsunami
over the next ten to fifteen years
and of course uh... the problems that
people's suspect
create this uh...
higher incidence of of delinquency
people over the age of forty between the
age of fourteen forty nine dash inside
that not only are these people still
paying off their college balances
but they are more likely probly two home
phone homes that have now decreased in
value
and
we have job loss amongst these people
and then of course uh...
you've got parents who are now paying
for their kids
college loans and uh... taking out more
loans
fed data shows that the number of
americans with student debt rose to
thirty seven million this year from
twenty three million
seven years ago
since two thousand five the number of
americans in their fifties with student
loans has doubled to four point six
million
and borrowers in their sixties an older
said more than tripled to two point two
million
so we have that more and more americans
a getting student debt
they're becoming older and that becomes
more of a problem as you get older
obviously because
or more expenses
family you have more medical costs
eccentric cetera
uh... so
time for jubilee
as far as i'm concerned
and then
once you have uh...
juba leader everyone's uh... student
loans
then it's time to go back to a system
where we actually
provide low-cost higher education of
people we know
that you are being less likely to be
unemployed if your college educated
right now
and you're also uh... going to make
anywhere from fifteen to twenty five
percent more money over the course of
your career with college education
none of that what i just suggested and
recommended will happen
it's out there hope springs eternal
