Mar 15, 2017|
Automatically Generated Transcript (may not be 100% accurate)
The numbers just keep going up and the number of defaults increasing we're talking about student loan debts this morning and that the Department of Education. It's trying to crack down on us let's bring in correspondent Ryan burrow this morning to find out more Ryan was going man. Good morning yeah what we're seeing a kind of a snapshot as to where were Atwood student loans weathered these student payments or defaults. In this case in 201642. Point four million Americans are paying student loans. They owed one point three trillion dollars. That as an average is 30650. Dollars up. That number is probably shocking to a lot of people now we also learn inside of the numbers that one point one million people new people. Defaulted on those loans in 2016 now keep in mind some people had previously defaulted got back on the payment this is new default people who have not paid. In nine months that's one out of six. Did not make their payments. It is over a nine month span itself. On the numbers seem to continue to grow old obviously we know that tuition has been writing the cost of college has been rising. More and more people are taking out student loans and now the question remains. Who's to blame for this and how do you fix that day if it's just parents and students. You know biting more than they can chew. You know going for the first school that maybe they can't afford down the road if at this school not properly informing people of the cost once they leave. Maybe I should they be tied to this. Or does the government need to step in and maybe make some changes we got the Obama administration. Did change some of the regulations that would allow for people to pay based on their income levels as opposed to. Flat rates but it doesn't seem in these numbers that either people are taking advantage of it or Celtic. Are they facing these long companies facing. Criticism now why maybe some pressure to restructure some of those payment plans. They are is they're they're they're it in a couple different ways there have been some lawsuits filed for various reasons for not up properly informing people of change is that not allowing people to understand. Changes or what or the loans themselves. A one may take him out of windows senator Elizabeth Warren has been that spearheading efforts that to try and end gets the Department of Education to stop. Charging double digit interest rates done people who default BL one kind of loan itself. Ever would kind of picking away added but obviously there's this big massive problem. That says it I don't know there's one major solution to that he was going to be able to come to an agreement on. Ari does Ryan girl on student loan debt. In this country.