Broader Economic Trends and Student Debt


There are many signs that the slow economic recovery may finally be picking up some steam. Economists are forecasting 4% growth for 2014. Both the official and the actual unemployment numbers have been declining, albeit very incrementally, month after month and are finally approaching levels that could be impacted meaningfully by targeted jobs programs—if, of course, there was Congressional support for such programs. Housing sales and permits for new construction are both up in most markets, as are manufacturing output and exports. And the stock market indexes are all at record levels. I am not suggesting that the economic situation is very good or even that the economic outlook is uniformly positive. But many of the key economic indicators are better than they have been since before 2008, when the Great Recession began.

Given the fairly positive economic news, it is not surprising that the delinquency and default rates on…

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