We hear all the time that student loan debt is on the rise, and isn't likely to slow down anytime soon. For all those federal loans, though, does the government really make any money?
Ignoring your problems rarely ever makes them go away. Anna learned that the hard way when the government started garnishing her wages after she defaulted on her student loan payments. But, she says, she's thankful it happened.
Bruce Chapman, economist at the Australian National University in Canberra discusses Australia's “study now/pay later” student loan formula.
The new face of debt is young and worried. Student loans affect nearly 15 million Americans under the age of 30 and many debtors are facing tens of thousands of dollars in repayment.