Posts tagged “college loan bubble

College Students Defaulting At Record Rates

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The Prism Daily: Mon, Oct 01, 2012
Why would it surprise anyone that college students are defaulting on their loans at record rates? Where are today’s college students going to get the money to pay these loans back when they can’t find jobs? From USA Today we read….

College Students Defaulting At Record Rate
“Experts say rising student debt and the poor economy have pushed an increase in the number of student loan defaults… Student loan defaults have risen for the fifth straight year as students have an increasingly difficult time paying off their college debt… of the 4.1 million borrowers who began making payments in late 2009 and early 2010, 9.1% defaulted within two years, up from 8.8% the year before… an official three-year default rate… showed that last year’s 8.8% default rate ballooned to 13.4%… ‘This default data raises serious questions about the quality and value of the education students receive from these schools’…”

With so few jobs available you have to ask yourself why college students keep going into so much debt when it’s so much more promising to be an entrepreneur. The very definition of employment is selling your time to the lowest bidder for the least they’re willing to pay you. Do this over and over and they call it a career. When you’re young and the world is your oyster, that’s the time to consider starting your own business and becoming financially independent. If all else fails, you can get a job.

Then there’s this. Mow lawns all summer, shovel snow all winter, save up and open an account with Prism Solutions. Let our automated wealth augmentation services help compound a tiny stash into a considerable nest egg. Maybe you can retire when you’re 30 and let your parents move in with you.

Getting started is as easy as requesting your FREE, no-obligation consultation. We stand ready to help you achieve your wealth development goals and answer your toughest questions.

And May All Your Investments Be Profitable…

David Taylor and Gordon Philips, Directors
Prism Solutions, LLC

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