25 years old and deep in debt

[Neil]

I don't agree with that. We're probably going to have a decrease in the average lifespan because of the increase in prevalence of obesity/hypertension/diabetes,

We'll see how that stacks up against the decline in smoking-related deaths.

[Tonitrus]

Sure, governments across Canada are having great success in enforcing cost discipline.  Oh wait, they're not.

The only way health care costs in a general sense are going to go down over time is if the long life expectancy trend reverses sharply for some reason. The rising cost of health care is a function of our productivity.

Sure, life expectancy rates are a factor, but won't declining birth rates also catch up with that once all the long-lived people do eventually die? 

[Neil]

Sure, life expectancy rates are a factor, but won't declining birth rates also catch up with that once all the long-lived people do eventually die? 

Theoretically, but it's government policy to keep that population growing at all costs. to help deal with the Boomers.

[Phillip V]

Student-Loan Delinquencies Soar

'35% of people under 30 who have student loans were at least 90 days late on their payments at the end of 2012, up from 26% in 2008 and 21% at the end of 2004.

The new figures, which exclude 44% of borrowers who are still in school or aren't yet required to make payments, show that young Americans are having a tougher time repaying college loans as debt loads increase and job prospects remain shaky.

Amplifying the burden: a growing number of young adults have become student borrowers. All told, 43% of 25-year-olds had student debt in the fourth quarter of 2012, up from about 33% in the fourth quarter of 2008.
...
Nearly 47% of borrowers owe between $10,000 and $50,000, up from 38% in the fourth quarter of 2005. The share of borrowers with balances of $100,000 or more has also jumped, to 3.7% from 1.7% during this period.'

http://online.wsj.com/article/SB10001424127887323978104578332222805526516.html

[merithyn]

The share of borrowers with balances of $100,000 or more has also jumped, to 3.7% from 1.7% during this period.'

Well, that's an interesting statistic. To hear everyone talk, there are a lot more students than this over that $100,000 mark. I'm glad to hear that it's actually a very few who are so in debt.

Isn't much help if they can't get a job, but there's a huge difference between 3.7% of students that much in debt and the 20-30% that I imagined.

[MadImmortalMan]

The share of borrowers with balances of $100,000 or more has also jumped, to 3.7% from 1.7% during this period.'

Well, that's an interesting statistic. To hear everyone talk, there are a lot more students than this over that $100,000 mark. I'm glad to hear that it's actually a very few who are so in debt.

Isn't much help if they can't get a job, but there's a huge difference between 3.7% of students that much in debt and the 20-30% that I imagined.

Everything would have already collapsed if it were 30% I suspect.

[merithyn]

The share of borrowers with balances of $100,000 or more has also jumped, to 3.7% from 1.7% during this period.'

Well, that's an interesting statistic. To hear everyone talk, there are a lot more students than this over that $100,000 mark. I'm glad to hear that it's actually a very few who are so in debt.

Isn't much help if they can't get a job, but there's a huge difference between 3.7% of students that much in debt and the 20-30% that I imagined.

Everything would have already collapsed if it were 30% I suspect.

If the majority are paying them back, why would that happen?

[Phillip V]

The share of borrowers with balances of $100,000 or more has also jumped, to 3.7% from 1.7% during this period.'

Well, that's an interesting statistic. To hear everyone talk, there are a lot more students than this over that $100,000 mark. I'm glad to hear that it's actually a very few who are so in debt.

Isn't much help if they can't get a job, but there's a huge difference between 3.7% of students that much in debt and the 20-30% that I imagined.

3.7% = 1.44 million borrowers with $100k+ in student debt

And that does not include credit card debt, family loans, and other financing methods indebted people turn to. "very few" indeed.

[merithyn]

3.7% = 1.44 million borrowers with $100k+ in student debt

And that does not include credit card debt, family loans, and other financing methods people use. "very few" indeed.

Compared to the 9.6 to 14.4 million I thought, yeah, very few.

[Phillip V]

The uncounted 44% of student-borrowers may also be unsettling. Many have found ways---for now---to defer payment on student loans for years while interest continues to accrue... They are not included in the statistics.

[crazy canuck]

The uncounted 44% of student-borrowers may also be unsettling. Many have found ways---for now---to defer payment on student loans for years while interest continues to accrue... They are not included in the statistics.

Yeah, I wonder how many of those have simply continued to be in school to finish their second, third etc degree.  If that is a large percentage then a lot of them will be in the 100k+ range.

[garbon]

The uncounted 44% of student-borrowers may also be unsettling. Many have found ways---for now---to defer payment on student loans for years while interest continues to accrue... They are not included in the statistics.

Yeah, I wonder how many of those have simply continued to be in school to finish their second, third etc degree.  If that is a large percentage then a lot of them will be in the 100k+ range.

What's the end game for those folk? Problem isn't going to get easier for them if they keep piling on debt.

[crazy canuck]

What's the end game for those folk? Problem isn't going to get easier for them if they keep piling on debt.

Agreed.  But back in the day I ran into several who deferred their payments by continuing with studies.  I assume the phenomenon continues.  The justification was that if they could get more creditentials and stay in school until the economy improved all would be well.

[Caliga]

In my experience, that rarely works.

[The Brain]

The women can do porn, but what can the men do? Useless bums.