Student loans set to impact whole spectrum of consumer debt
Accelerated growth of student loan debt is set to impact virtually every consumer debt segment in the US, as what has been called a growing loan bubble shifts historical patterns of homeownership nationwide, said speakers on a consumer credit panel on day two of ABS East.
Fears of a student debt bubble come as economic growth in the US has been low over the last six to seven years, in tandem with sluggish wage growth in the same period, the panellists said.“There’s uneven outcomes with regards to personal income, and the lower end ...
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