MILLIONS OF DELINQUENT STUDENT LOANS , FINANCIAL STRESS HITS RECORD, FOOLISH SPENDING TO BLAME?

Millions of student loan borrowers have fallen delinquent and/or are in default on their loan payments as wages fail to keep up with rising costs and people continue to spend foolishly. Currently, in the U.S., about 44 million people carry student loan debt. With the current delinquency rate nearing 11%, that means nearly 5 million people are in delinquent status on those loans. Also, financial stress has hit an all-time high in the U.S., according to a recent survey. Is it foolish spending?, is it the banking system, or all of the above causing this stressful mess for so many people?

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