Philly Fed chief warns of mounting student debt

Patrick Harker, president and CEO of the Federal Reserve Bank of Philadelphia, said on Thursday that student loan debt is becoming a “real threat” to American households, with the number of older student loan borrowers quadrupling in the last 10 years.

  • By Sasha Padbidri
  • 08 Feb 2018

In a speech on higher education at the Endowment and Debt Management Forum in New York, Harker signaled his concerns over student debt burden for borrowers and their co-signers – often the parents of student loan borrowers – adding to the risk of default.

“Research shows that in ...

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