Nearly 40% Of Student Loan Borrowers To Default By 2023

Over three years ago, when the full extent of the student debt crisis was becoming apparent, the Treasury Borrowing Advisory Committee released a startling analysis  and long-term forecast which showed two things: i) up to a third of all student loans are likely to end up unrepaid and ii) the total amount total student loans, which currently amount to $1.48 trillion  (nearly 50% more than all the credit card debt in America), is set to hit a whopping $3.3 trillion by 2024.