Tuesday Jan 31, 2012
The 2008 financial crisis was the result of too many people unable to pay their mortgages and too many banks and brokers leveraging a bet that the could or would be backstopped by the government.
I have mentioned in class that the next crisis will likely be student loans. This article details that Salle Mae is actually charging forbearance fees for those that cannot pay the loans now. Geographic Mapping is not a bad major except when there are hundreds of other GPS experts out of jobs.
Agin there is no collateral for a student loan unlike the sub prime mortgage crisis.
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