Students Borrowing May Have Catastrophic Consequences

College students are borrowing more and taking on riskier forms of debt than ever before, according to a national analysis released Thursday. “Drowning in Debt: The Emerging Student Loan Crisis,” was released by an independent education policy think tank called the Education Sector. “If this excessive borrowing continues, the consequences for students could be catastrophic,” report authors Erin Dillon and Kevin Carey said in a news release. If these trends continue, people will have less access to higher education, they’ll have increasing rates of catastrophic loan defaults and they will have diminished life choices. Read more at:

http://www.bizjournals.com/sacramento/stories/2009/07/06/daily46.html