Student Loan Debt Problem
- April 13, 2017
- Crash Proof Retirement®
- Crash Proof Retirement®, Crash Proof Retirement® Events, Crash Proof Retirement® Show, Crash Proof Retirement® System, debt crash, Joann Small, Phil Cannella, Phil Cannella Crash Proof Retirement®, Phil Cannella events, Phillip J Cannella, student loan debt bubble
- 0 Comments
Economists and financial experts often talk about “bubbles”.
Debt bubbles…Economic bubbles…Foreign Currency bubbles. Now comes more evidence that the massive student loan college debt bubble is getting dangerously close to bursting.
Over the past 10 years the amount of student loan debt in the U.S. has grown by 170% percent, to a whopping $1.4 trillion — more than car loans, or credit card debt. In America. 44 million people have student debt and 8 million of those borrowers are in default.
A report by the Consumer Federation of America (an association of non-profit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education,) found that the number of Americans in default on their student loans jumped by nearly 17% percent last year (2016). Despite all the improvements in the economy, student loan borrowers are still struggling, in what was thought to be an improving labor market. Studies show that there are links between high student debt and health issues like depression, and marital failures. The whole thing is made worse by the fact that a large chunk of those holding massive debt do not end up with degrees, having had to drop out from the stress of trying to study, work, and pay back massive loans at the same time. Meanwhile, the subprime crisis cut the ability of parents to use home equity loans to pay for their children’s education (previously a common practice). This left the bulk of the burden to students, at a time when the unemployment rates for young people are rising.
So the big question is: What is going to happen next and when is the bubble going to burst?
Mark Cuban, is a very successful and well respected businessman. He sold his technology company before the dot-com bubble burst and made billions. He is also the owner of the NBA’s Dallas Mavericks.
Listen to what Mark Cuban recently told Inc. Magazine, re: his feelings about the massive student loan debt bubble. Watch video below.
Defaulting on a federal student loan can be a financial disaster for the borrower. Unlike other types of debts, most federal student loans cannot be discharged in bankruptcy. Those who go into default face serious consequences including: wage garnishment, damaged credit scores and added costs in fees, interest and legal fees.
If you’re worried that the economic bubble to burst, may have a detrimental effect on your retirement nest-egg, then you nee to get educated on the one and only exclusive Crash Proof Retirement® System, that is deigned to protect your life savings from any market crash.
If you are in or near retirement and worried where the economy is headed, wouldn’t you like to lock in the gains you’ve made on the stock market and never have to worry about another crash or downturn? There is a safe and guaranteed alternative to the risk, corruption and fees within the securities industry, and it’s called the exclusive Crash Proof Retirement® System. If you’re worried about losing any part of your retirement nest-egg then let Phil Cannella and Joann Small educate you on the exclusive Crash Proof Retirement® System. This proprietary system is designed so that when the market goes up, your accounts can experience gains, but when the market goes down or crashes, your accounts stay even; You never lose a penny of your principal and that’s guaranteed! Get educated on the proprietary Crash Proof Retirement® System at the next Crash Proof event!
There is no cost…No obligation…Just a Crash Proof Education from the creator of the exclusive Crash Proof System-Phil Cannella, and the CEO of Crash Proof Retirement®- Joann Small.
See what you’ll learn at a Crash Proof Retirement® Educational Event. Watch below.
Leave a Reply
You must be logged in to post a comment.