Americans are taking out student loans that they can't afford, from lenders who know they can't afford them. Those lenders are re-selling the debt to other lenders, and, as student loan debt increases at a far higher rate than the unemployment rate decreases, more and more of these loans are going unpaid.
The Wall Street Journal has a story out today that says "Web Startups Hit Cash Crunch." There has been a fair bit of reaction in the tech blogs and I thought I'd toss into the discussion some things we are seeing.
NEW YORK -- The average college graduate leaves school with $24,000 in debt and one in 10 are unable to find work of any kind. By year's end, student ...