Sallie Mae

A growing number of college grads are defaulting on their student loans as the economy worsens.

The Obama administration’s push to phase out subsidies for private student loan companies and replace them with more efficient direct lending from the government is causing some serious agita among big banks that fear lost business, as The New York Times reported last week.
But curiously enough, the large student loan firms’ eagerness to protect their [...]

It should be no surprise that the weak economy is making it especially tough for new college graduates trying to find jobs. But huge student loan debts are adding to their dilemma — the payments don’t go away just because the job market is tough.
The Wall Street Journal reports today that student loan defaults are [...]