The Financial Crisis Isn't Over for Students
As housing prices collapsed during and after the recession, student loan debt rose. And the government wants its money back.
Hope they don't have too much in student debt.
Photographer: Drew Angerer/Getty ImagesThis Article is for Subscribers Only
The financial crisis and the bursting of the housing bubble are now a decade behind us. But at least one consequence persists: a pile of student loans. Those loans, and the government’s relentless efforts to collect on them, continue to haunt Americans years after names like Lehman Brothers and Bear Stearns faded into memory.
Since the recession began in 2008, federally owned student debt has grown from around 5 percent of all household debt to around 30 percent: