Student loan default is exploding and people are starting to wonder if the investment is worth the return. Hundreds of thousands of students are graduating from college this month heavily in debt. They are preparing to enter a U.S. economy saddled with a stubbornly high U.S. unemployment rate. Job creation is stagnant. The jobs that are being created are unskilled, low-paying positions. Higher end jobs are disappearing as U.S. graduates compete with foreign workers willing to work for far less money. A lack of lending standards and naive borrowing for college has the student loan crisis being compared to the subprime loan crisis.
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