|By PR Newswire||
|February 9, 2014 08:14 AM EST||
NACOGDOCHES, Texas, Feb. 9, 2014 /PRNewswire-iReach/ -- While delinquencies for credit card, car and mortgage debt have all been in decline since reaching a peak during the financial crisis, student loan delinquencies remain on the rise. As this younger generation struggles under the burden of their outstanding student loan debt, the economy will be impacted by this group's inability to buy homes, cars and other purchases that can help the economy continue its recovery.
It is a concern that the central bank shares, as the New York Federal Reserve has moved to measure the size of the current student loan load. While the Federal Reserve is trying to determine the size of the loan load, other questions should be raised, including the reason for the continued increase in outstanding student loan debt.
"It seems that a big part of the issue has to do with timing," said a representative with United Cash Loans 123. "Many of these individuals that are struggling with their student debt graduated during a time when the economy was struggling through a recession, and job growth still has not risen all that much in the time since. Many graduates were not able to find the lucrative careers they studied for, and had to accept lesser-paying jobs to make ends meet."
Concerns abound relating to the manner in which these loans are distributed, with many comparing the distribution of student loans to the distribution of home loans in advance of the housing market collapse. Another concern that has not been mentioned frequently is the manner in which these loans are utilized after distribution.
"We do not like to speculate on individual behavior, but the fact remains that many of the student loan recipients are younger and have not had much experience in handling financial responsibilities," said the representative of United Cash Loans 123. "These loans can cover everything from tuition to living expenses, so the total loan amounts over four or five years can really add up quickly."
The high total loan amount, coupled with the difficulty in finding lucrative jobs after graduation may be the reason for the increasing delinquency levels of student loan debt.
"This is a difficult problem," said the United Cash Loans 123 representative. "Finding a solution to a complex problem such as this is no easy task."
Media Contact: Brandon Hopkins, AfterHim Media LLC, 559-871-1613, [email protected]
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE United Cash Loans
Jul. 1, 2015 07:15 PM EDT Reads: 2,529
Jul. 1, 2015 05:00 PM EDT Reads: 884
Jul. 1, 2015 05:00 PM EDT Reads: 2,231
Jul. 1, 2015 04:09 PM EDT Reads: 642
Jul. 1, 2015 03:30 PM EDT Reads: 1,086
Jul. 1, 2015 03:00 PM EDT Reads: 1,959
Jul. 1, 2015 02:45 PM EDT Reads: 1,097
Jul. 1, 2015 02:30 PM EDT Reads: 1,205
Jul. 1, 2015 02:21 PM EDT Reads: 680
Jul. 1, 2015 01:15 PM EDT Reads: 2,177
Jul. 1, 2015 12:54 PM EDT Reads: 647
Jul. 1, 2015 12:15 PM EDT Reads: 2,062
Jul. 1, 2015 12:00 PM EDT Reads: 2,022
Jul. 1, 2015 11:45 AM EDT Reads: 1,044
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare...
Jul. 1, 2015 11:30 AM EDT Reads: 810