大家对目前student loans的情况有什么看法么?# Stock
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今天看到的一篇文章
http://www.bloomberg.com/news/2014-11-06/student-loan-market-re
Student-Loan Market Recalls Subprime Crisis for U.S. Treasury
By Jeanna Smialek Nov 6, 2014 2:45 PM ET - Comments Email Print
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The Treasury Department is looking at the rise of American student-loan debt
and seeing worrying similarities to the U.S. housing-market bubble.
Deputy Secretary Sarah Bloom Raskin today voiced concern that education-loan
borrowers could turn to repayment scams resembling mortgage-payment schemes
from 2009 and 2010. Her remarks come a day after a Treasury committee
report drew parallels between student-loan default risks and the mortgage
market before housing collapsed starting in 2006.
“Millions of student-loan borrowers are in default on their student loans;
many more could face default in the near future,” Raskin said today in
Tampa, Florida, during her third public speech on student debt since
becoming the Treasury’s No. 2 official in March. “I worry about the
emergence of a student loan ‘debt relief’ industry.”
High default rates and delinquencies have been a focus for Raskin, in part
because they may damage Americans’ creditworthiness and curtail their
ability to invest in homes and businesses. They also create uncertainty for
the Treasury, which finances about $100 billion of new student loans each
year.
“To the extent the government doesn’t get repaid, that boosts Treasury
borrowing needs,” Nancy Vanden Houten, a senior government policy analyst
at Stone & McCarthy Research in Skillman, New Jersey, said in an e-mail.
That is “ultimately a cost to taxpayers.”
Default Rates
About $100 billion of federal student loans are in default, 9 percent of
outstanding balances, according to a Treasury Borrowing Advisory Committee
update on student lending trends released yesterday.
The balance of student loans outstanding in the U.S. -- also including
private loans without government guarantees -- swelled to $1.3 trillion as
of the second quarter 2014, based on data released by the Federal Reserve on
Oct. 7.
Behind the actual default rate is a “shadow book of potential future
defaults, reflected in the volume of loans in deferment and forbearance,”
according to the report by TBAC, a group of bond dealers and investors that
advises the government on market dynamics. Those would add 23 percentage
points to the 9 percent share in default, it said.
The report compares that to the subprime mortgage market.
“Although clearly substantial differences exist, one can look at the rate
of serious delinquencies as a percent of the balance of total subprime loans
originated leading up to the crisis,” the report states.
Those posted 90-plus-day delinquency rates greater than 30 percent and 40
percent only in mid- to late-2009, suggesting “a 30 to 40 percent threshold
as a trigger would be too generous.”
http://www.bloomberg.com/news/2014-11-06/student-loan-market-re
Student-Loan Market Recalls Subprime Crisis for U.S. Treasury
By Jeanna Smialek Nov 6, 2014 2:45 PM ET - Comments Email Print
Google+
Save
The Treasury Department is looking at the rise of American student-loan debt
and seeing worrying similarities to the U.S. housing-market bubble.
Deputy Secretary Sarah Bloom Raskin today voiced concern that education-loan
borrowers could turn to repayment scams resembling mortgage-payment schemes
from 2009 and 2010. Her remarks come a day after a Treasury committee
report drew parallels between student-loan default risks and the mortgage
market before housing collapsed starting in 2006.
“Millions of student-loan borrowers are in default on their student loans;
many more could face default in the near future,” Raskin said today in
Tampa, Florida, during her third public speech on student debt since
becoming the Treasury’s No. 2 official in March. “I worry about the
emergence of a student loan ‘debt relief’ industry.”
High default rates and delinquencies have been a focus for Raskin, in part
because they may damage Americans’ creditworthiness and curtail their
ability to invest in homes and businesses. They also create uncertainty for
the Treasury, which finances about $100 billion of new student loans each
year.
“To the extent the government doesn’t get repaid, that boosts Treasury
borrowing needs,” Nancy Vanden Houten, a senior government policy analyst
at Stone & McCarthy Research in Skillman, New Jersey, said in an e-mail.
That is “ultimately a cost to taxpayers.”
Default Rates
About $100 billion of federal student loans are in default, 9 percent of
outstanding balances, according to a Treasury Borrowing Advisory Committee
update on student lending trends released yesterday.
The balance of student loans outstanding in the U.S. -- also including
private loans without government guarantees -- swelled to $1.3 trillion as
of the second quarter 2014, based on data released by the Federal Reserve on
Oct. 7.
Behind the actual default rate is a “shadow book of potential future
defaults, reflected in the volume of loans in deferment and forbearance,”
according to the report by TBAC, a group of bond dealers and investors that
advises the government on market dynamics. Those would add 23 percentage
points to the 9 percent share in default, it said.
The report compares that to the subprime mortgage market.
“Although clearly substantial differences exist, one can look at the rate
of serious delinquencies as a percent of the balance of total subprime loans
originated leading up to the crisis,” the report states.
Those posted 90-plus-day delinquency rates greater than 30 percent and 40
percent only in mid- to late-2009, suggesting “a 30 to 40 percent threshold
as a trigger would be too generous.”