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Millions in default on student loans as debt crisis grows (www.kjct8.com)

submitted 1 day ago by return2ozma@lemmy.world to c/usa@lemmy.ml

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Jack Wallace, Director of Government and Lender Relations at Yrefy, said the financial picture for American consumers is concerning.

“The American consumer is not in good shape today,” Wallace said. “We have over 1.8 trillion in student loans. Auto debt is over 1.5 trillion. Credit card debt is back up. It’s up to 1.3 trillion.”

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[–] umbrella@lemmy.ml 2 points 22 hours ago

yup. electoralism doesn't work because the entire system is set up for the rich.

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