By The Numbers

The default in our student loans

Tony Wagner Jun 9, 2015
50,000

That’s about how many jobs British bank HSBC says it will eliminate as it attempts to cut costs. As the New York Times reports, as many as 25,000 of those positions will come from selling businesses in Turkey and Brazil. 

$3.6 billion

The total amount of debt the from students at Corinthian Colleges which the government announced Monday it will forgive, the Associated Press reported, after Corinthian shut down amid bankruptcy and a fraud investigation. The move comes at a high cost to taxpayers, and it has stoked conversation about the government’s role administering student loans in the first place.

7 percent

That’s the percentage of the Oyler School’s graduating class that will go to trade school. The Cincinnati-based school has worked hard to build a college-going culture among its student body. But the school staff also acknowledge that for their low-income students, a two- or four-year institution may not be the right fit.

$1.2 trillion

Speaking of college debt: that’s how much students have nationwide. In a New York Times op-ed over the weekend Lee Siegel talked about his experience defaulting on his student loan debt, suggesting students follow their passions rather than toiling away to pay off an “unfair” debt. He described default as an act of protest against the rising cost of education. This week, many, many commentators have come out against the advice.

7 couples

That’s how many same-sex couples from China will be married in West Hollywood, California, as part of a promotion by Alibaba and its online shopping site Taobao. While China doesn’t currently recognize same-sex marriage, it makes sense that Alibaba would be interested in the reported $300 billion in spending power held by the LGBT community. 

$80,162

That’s how much more the average millennial working in San Jose, California would have to make in a year to afford a typical mortgage. According to a new analysis from Bloomberg, that’s the largest gap in the country between pay and home prices for young people.

 


Correction: A previous version of this story misstated how many couples will be married in West Hollywood Wednesday. Seven of the ten planned couples will be married, after the other three had issues getting travel visas. The text has been updated.

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