10 Facts About the Student Debt Crisis

10 FACTS ABOUT THE STUDENT DEBT CRISIS >40 MILLION That's greater than the population of Canada, North Korea, Poland, Australia and 200 other countries! AMERICANS HAVETOPAYBACK STUDENTLOANS BANKRUPTCY IS NOT AN OPTION FOR DISCHARGING STUDENT DEBT MILLION People have defaulted on payments STUDENT DEBT AMOUNT HAS INCREASED AT ARATE OF 500% SINCE 1999. BUT... Average starting salary has decreased 10% within the same period. A GAMBLING DEBT IS VCONSUMBER DEBT IS Student loans can affect your employment prospects: Some government jobs are out of the question if you default. Student loans affect credit lines... Credit checks are requested by potential employers. Schools can hold your official transcripts when employers request verification. A 2013 projection from the Congressional Budget Office shows that THE GOVERNMENT MADE 24 $50 BILLION FROM STUDENT LOANS Families inherit student debt obligations when those responsible for payments die. NO MORE LICENSE IN 2012, 42 NURSES IN TENNESSEE HAD THEIR LICENSES SUSPENDED BECAUSE THEY DEFAULTED ON STUDENT LOANS. IN MONTANA, IT IS POSSIBLE TO HAVE A DRIVER'S LICENSE SUSPENDED BECAUSE OF DEFAULTYING ON PAYMENTS. INTEREST RATES ARE SET TO CONTINUE TO RISE PEOPLE ARE DELAYING LARGE PURCHASES The debt to income ratio for many people disqualifies them from First-time home mortgages Buying a car HAVESTUDENTLOANS CONTRIBUTED TO YOUR FINANCIAL HARDSHIP? Contact an experienced lawyer to help you negotiate bankruptcy. MORGAN ATTORNEYS AT LAW P. C. &MORGAN (706) 510-2830 Trusted & Experienced