Over 15 % of student loans delinquent

LA Times:
The delinquency rate, now 15.1%, signals that monstrous debt is a problem not only for students but potentially for the broader economy, a consumer credit watchdog reports.
The air is starting to come out of what Glenn Reynolds calls the "higher education bubble."   For too long administrators have been pushing higher cost on unsophisticated student borrowers rather than cutting overhead.

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