Bob, I saw this article about the surge in student loan defaults. How do you think this will affect the stock market?
Below is the article I found:
More Americans are defaulting on student loans despite a strong economy, The Wall Street Journal reports. Roughly 4.6 million people were “severely behind” on their payments in the third quarter, a two-fold increase from 2013. Defaults accounted for 13% of the $631 billion in required payments, according to the Education Department. The trend could have longer-term implications for the economy’s growth: Defaulted borrowers — those who haven't paid in at least a year — could hurt their credit and subsequently their ability to take out loans for homes, cars, and other big purchases.