Are student loans the next 'debt bomb' to the economy?Posted: Updated:
PHOENIX -- First it was the housing crisis did a number on the economy, now student loans could be a threat. Some call them the next "debt bomb."
There is more than $1 trillion in students loans outstanding, money borrowed by people trying to get through school who are now having trouble paying it back because they cannot get jobs after graduation.
Attorney Johnathan Frutkin broke down the numbers for Scott Pasmore.
- College graduates owe an average of $25,250
- Parents have an average of $34,000 in students loans for their children
- Of the class of 2005, 25 percent of borrowers have become delinquent
For more information about the Frutkin Law Firm, visit www.frutkinlaw.com or call 602-606-9300.