JPMorgan CEO Jamie Dimon Calls Student Loans ‘Significant Issue’
As pointed out by this article the number and size of student debt is reaching unsustainable levels in the US. Policy measures are required to rain in unhealthy practices and to mitigate the domino effect student loan delinquencies cause in both short-term and long-term dimensions (such as home ownership).
With a size of $1.5 trillion and counting the US student debt is important for the Deriveum project as an indicator to other economic developments – such as the health of commercial auto-loan sector in the US, and consumer spending power in the medium turn. The fact that student debt is backed by the government and may not be written off in a personal bankruptcy means that it will effect youth job prospects, entrepreneurship levels and long-term consumer spending. As such Deriveum would be very helpful down the line to numerous private financing facilities that would address the issue of debt collection among young adults in the US.
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