10-20-2013 02:08 PM
Well student loans are the next bubble that's going to burst so not totally suprised.
10-24-2013 09:21 PM
Student loans are hardly dischargeable even in bankruptcy. The only bubble to burst would be a major change to those rules that would allow more borrowers to escape their debt. Perhaps that is what Chase sees and at least for my part, I think it's the right thing to happen. Back in 70's and early 80's, there was huge problem with defaults on student loans because there were no consequences for failing to repay. Many types of loans didn't even report to credit agencies. So we hit reverse and made them impossible to escape. That in turn has made the lenders become irresponsible and they gave out loans for programs with little chance of being repayed except for this new form of indentured servitude. That's not right either, especially since it hits mostly young people who have less experience and battle scars from the credit world to know better. All the "free" money has also driven up the price of education faster than the rate of inflation for many years. At one time, it was possible for almost anyone to start at zero, choose a cheaper accredited school and work their way through without any loans or help from mom and pop. Such a thing is barely plausible today.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.