Bohemia, NY (PRWEB) December 04, 2013
Rapid Recovery Solution, Inc. considers the future of America’s expanding college debt bubble.
According to a November 30 article from The Washington Times titled “Government Loans Are Causing a Debt Crisis In Higher Education,” America may be on the precipice of its next financial mess. The parallels between the housing bubble and inflating college loans are evident, and many astute onlookers are now concerned.
Prior to the Great Recession, the government put significant emphasis on more Americans becoming homeowners. It set a goal at 70 percent ownership and achieved this through seemingly blind lending practices, distributing huge quantities of dangerous “sub-prime” loans. Years later, home mortgages are harder to obtain, but federal advances for college are as easily accessible as ever.
Consequently, colleges and universities feel comfortable increasing tuition fees at much quicker speeds than the national inflation rate, catching students in a vicious cycle of expanding debt. The Consumer Financial Protection Bureau estimates total college debt to exceed $1 trillion, with the average graduate claiming $27,000 in outstanding payments.
John Monderine, CEO of Rapid Recovery Solutions, weighs in. “It is absolute appropriate to draw comparisons between the real estate and student loan markets. Both are directly tied to the ‘American Dream,’ yet significantly weigh on our national economy.” Monderine continues. ”College loans is conceivably the next bubble to burst, so legislative action should be taken now to prevent another financial crisis. Any student concerned about their personal debt should consult with a financial expert or accounts receivable collection representative.”
Founded in 2006, Rapid Recovery Solution, Inc. is headquartered at the highest point of beautiful Long Island. Rapid Recovery Collection Agency is committed to recovering your funds. We believe that every debtor has the ability to pay if motivated correctly. We DO NOT alienate the debtors; we attempt to align with them and offer a number of ways to resolve not only your debt but also all their debts.