Despite new student loan bill, debt still problematic for students

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by WHAS11

WHAS11.com

Posted on August 5, 2013 at 7:53 PM

LOUISVILLE, Ky. (WHAS11) – A bill to reduce student loan rates for college students is currently on President Obama’s desk and one expert is weighing in on the impact that student loan debt has on the rest of the economy.

The head of the Consumer Financial Protection Board says student loan debt has a similar effect on the economy as the subprime mortgage crisis.

A recent report from the organization found that massive loan debt could be delaying borrowers from reaching many of the financial and cultural milestones that used to be obtained by 20 something’s like buying a car, a home, starting a family or starting a business.
 

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