Private student loans

• WASHINGTON (AP) – Risky lending caused private student loan debt to balloon in the past decade, leaving many Americans struggling to pay off loans that they cant afford, a government study says.
(USA Today)
• WASHINGTON, July 20 (UPI) -- Student loans soared beyond students ability to pay due to the same lax lending that brought on the subprime mortgage crisis, two U.S. agencies said Friday.
(United Press International)
• WASHINGTON — With more people steeped in student loan debt and defaults rising, two federal agencies are urging Congress to rein in private lenders that have flooded the market with often risky loans.
(Los Angeles Times)
• The students who took out those private loans found that once they graduated, they had few options if they struggled to meet payments. Student-loan debt now outpaces all other forms of consumer debt, topping $1 trillion.
(Huffington Post)
• (Reuters) - Borrowers who took out private student loans in the run-up to the financial crisis are facing higher levels of default, reflecting the risky lending practices at the time, the Obama administration said in a new report.
(NBCNews.com)
• It provides new estimates for total outstanding student loan debt: more than $1 trillion in 2011, composed of $864 billion in federal government loans and $150 billion in private student loan debt.
(CNBC)
• In the years leading up to the financial crisis, the market for private student loans was booming, driven in part by aggressive marketing practices and risky loans, according to a new report by the U.S.
(Daily Oklahoman)
• The average balance on these loans: nearly $34,000, up 123% from a decade ago. Meanwhile, more private lenders are demanding parent co-signers on their student loans.
(MSN Money)
• The same kind of lending frenzy that created the subprime-mortgage crisis also fueled a dangerous boom in private student loans, says a report released on Friday by the Consumer Financial Protection Bureau and the U.S. Department of Education.
(The Chronicle of Higher Education)