Overdue Student Loans Reach Record as U.S. Graduates Seek Jobs

May 23, 2013
student loan news

An unprecedented 11 percent of student loans were delinquent by 90 days or more in the third quarter of last year, compared to 6 percent in the first quarter of 2003, according to a new report from the U.S. Education Department. The study found that nearly 30 percent of 20- to 24-year-olds are neither employed or nor enrolled in school. "Today's economy puts young graduates in a difficult position," read a statement from Jack Buckley of the National Center for Education Statistics, which published the report. "A college diploma no longer guarantees a direct pathway to the middle class, making it harder to justify the expense of a degree."
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