Watch: Dr. Steven Hayward on Fallout From Student Borrowers Not Making Loan Payments | Fox Business
40% of Students Aren't Paying Back the Government
By Henry Fernandez |FOXBusiness
There’s new concern over student loans as more than 40% of people who borrow from the government are not making their payments. That’s nine million of the 22 million people with students loans who may never be able to pay their loans.
During an interview on the FOX Business Network’s Varney & Co., Pepperdine University professor Steve Hayward suggests the latest figures are a direct result of rising education cost and thinks a bailout is in the near future.
“The cost of higher education has been soaring well beyond the rate of inflation for decades. Higher than the rate of increase in housing during the bubble, higher than the cost of healthcare at higher rate than healthcare was rising,” Hayward told host Stuart Varney.