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By CU Student Choice
Few will disagree that America’s mounting student loan debt is a problem: a problem for borrowers facing a weak (but hopefully improving) job market, a problem for colleges struggling to rein in costs and demonstrate value, and a problem for the biggest student lender in the game — Uncle Sam.
But while issues certainly do exist, a torrent of articles has been quick to apply such ominous tags as “crisis” and “bubble” to student lending. Even with rising debt and delinquency, are these terms really accurate? According to one recent article by Christopher Matthews on Time.com, the answer is a resounding no.
For credit unions that offer private student lending programs, or are considering a program, taking a closer look at the numbers can help separate rhetoric from reality, while also revealing important data to guide risk management and optimize loan performance.
1 — There are millions of numbers to consider when evaluating student lending, but for credit unions offering a private student loan option the most important number is one; helping one family at a time responsibly achieve higher education goals that will pay dividends for a lifetime.
While the list of statistics and numbers could go on and on, these are but a few that may help cast a new light on a very complex issue. As has been proven many times before, nothing is black and white. As with any issue, it’s critically important for credit unions to carefully evaluate and understand all the facts — especially in a market that provides a great opportunity to meet the needs of young adults and families.
This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.
If you are interested in contributing an article on CreditUnions.com, please contact our Callahan Media team at firstname.lastname@example.org or 1-800-446-7453.
March 18, 2013
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