Burgeoning levels of student loan debt could slow down economic growth over time, Federal Reserve Chairman Jerome Powell said Thursday.
Education debt swelled to nearly $1.38 trillion at the end of 2017, with 11 percent of borrowers 90 days or more delinquent, according to the New York Fed.
He also wondered why student debt can't be discharged in bankruptcy.
"I'd be at a loss to explain why that should be the case," he said, while acknowledging that the issue is one for Congress to tackle.
Is that guy really a banker? Doesn't understand that lending on those terms is really just giving away money? Well I guess that is how bankers are in the age free government money
as of 3/21/18
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Dischargeable? So another words off the hook?