*Walter Bloomberg
@DeItaone
Joined August 2014
40 Following 1.9M Followers
FEDERAL DEFICITS COULD DRIVE UP STUDENT LOAN COSTS
A Conference Board study warns that rising U.S. deficits can push up interest rates and make student loans more expensive.
For a hypothetical student borrowing $75,000, lower deficits could reduce lifetime payments by about $14,000.
In an extreme one-week government default scenario, payments could rise by roughly $44,000.
Americans now owe about $1.87 trillion in federal and private student debt.
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