Cumulative Student Loan Debt Reaches $1.53 Trillion
by
Gregory Mark Fitzgerald on Nov. 12, 2018
Bankruptcy & Debt Credit & Debt Bankruptcy & Debt Collection Other Education
Summary: Defaults on student loans can have severe repercussions for borrowers of any age. Private servicers may sue upon default, while the federal government may garnish wages or intercept tax refunds.
"Along with concerns about delinquencies and defaults also comes the question of the economy overall as so many borrowers have their spending restricted due to student loans. This means far too many are forced to put large purchases on hold, to include homes and cars—and they may not be able to open businesses either, due to their finances."
Read the entire article on the official Fitzgerald & Campbell, APLC blog.