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Equifax: Recession Spurs Student Lending in U.S (Reuters)
“Student loans outstanding are up about 50 percent since 2007 at $562 billion, according to Equifax Inc.,” Reuters reports. “Students have taken out $55 billion in loans in the past year. ‘We’ve never seen these levels of debt for student loans,’ said [Dann Adams, president of Equifax' U.S. Consumer Information Solutions]. He attributed the spike to the recession, which has kept students in school for lack of a job and also caused states struggling with less tax revenue to cut funding for higher education.”
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Equifax: Recession Spurs Student Lending in U.S (Reuters)