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Kids These Days: Human Capital and the Making of Millennials Highlight

posted on in: Quote.

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The idea of defaulting implies that the debtor is unable to, and therefore does not, pay off the loan. But that’s not how it works. At the time of this writing, the latest numbers are for loans issued in Fiscal Year 2014: The government expects to make a staggering $140 billion in student loans,36 of which around 17.5 percent are projected to default at some point in the future.37

— Malcolm Harris

Replicated under Fair Use from Kids These Days: Human Capital and the Making of Millennials by Malcolm Harris. (Pg. 62)

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