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UW-Madison. Trying to make college more affordable could help the problem of student loan defaults. Thousands of people across Wisconsin are not keeping up with repayment of student loans, according to Wisconsin Watch, more than 100,000, or 15% of borrowers in the state carry loans that are in default, having not made a payment in 360 days. What kind of a bellwether is this for the overall economy, and what’s the consequence?
We turn to Jay Michael Collins, a consumer finance expert and professor at the La Follette School of Public Affairs. And thanks very much for being here. Thanks for having me. So what kind of a marker are student loan defaults for larger economic struggles?…