"Feb. 16 (Bloomberg) -- Roshell Schenck has a PhD in pharmacy and earns $125,000 a year, yet can’t qualify for a mortgage for a house for herself and her 9-year-old daughter. The 2008 graduate of Lake Erie College of Osteopathic Medicine, in Erie, Pennsylvania, has more than $110,000 in student debt."
It seems to me that there has been a change in the way several generations view debt. The boundaries have moved quite a bit in the past twenty years or so.
“I wouldn’t be looking at jumping into another $100,000 of debt to own a home,” said the 31-year-old single mother. “I don’t think jumping into home ownership would be financially reasonable.”
Bloomberg student loan news and the ripple effect that the 1 trillion dollar debt is having on the recovery.
Very simple, banks don't want to lend in this economy. They'd rather take their money from QE and park it at the FED.
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