The Container Factor

December 29, 2015
/   Voices

New technology to ease application shipment could make a big difference for many financial service institutions

Foolhardy Predictions for 2016

December 28, 2015

If history is any guide, it’s foolish to make predictions about the banking industry. There are too many external...

Banking with Non-Banks

December 18, 2015
/   Voices

Walmart Pay could be another step in companies outside financial services getting in on the action

Fast Facts: Student Loans

January 22, 2013
/   Insights

The Financial Services Roundtable recently released another iteration of its Fast Facts, reliable, bullet-point research about issues facing the financial services...

What We’re Reading

May 5, 2011
/   Spotlight

Below are interesting stories the staff has been reading over the past week. What have you been reading? Let...

The Financial Services Roundtable recently released another iteration of its Fast Facts, reliable, bullet-point research about issues facing the financial services industry. Topics span TARP, Dodd-Frank, insurance, lending, retirement savings and more.  Below are some updated Fast Facts on student loans, which are  the largest form of consumer debt outside of home mortgages.

FACT:  More Americans are attending college at a time when college is getting more expensive.

  • Total college enrollment has increased 50% in the last 15 years.
  • College costs are increasing at double the rate of inflation.  Last year, tuition and fees grew 8.3% for in-state students at 4-year public schools, whereas the Consumer Price Index increased 3.6% between July 2010-July 2011.

FACT:  Many students borrow money to pay for a college degree.

FACT:  Student loans are now the largest form of consumer debt outside of home mortgages, eclipsing both auto loans and credit cards, according to the Federal Reserve Bank of New York.

FACT:  The vast majority of student loans are federal loans.

FACT: Private student loans often supplement federal borrowing to help families pay for the higher cost college of their choice.

FACT:  Private student loans have a significantly lower default rate than federal student loans.

FACT:  The federal government can recover defaulted student loans through administrative wage garnishment, offsetting federal tax refunds, and even part of Social Security checks.

  • In contrast, private lenders may not use these methods to collect on education loans.  Further, collections on private education loans are subject to statute of limitations; there is no statute of limitation on the collection of defaulted federal loans.

FACT:  Seventy-two percent of college students who graduated between 2006 and 2011 report that they have paid off one-quarter or more of their college loans, according to the Center for Workforce Development.

FACT:  On average, Americans with a college degree are twice as likely to be employed as the national average.

  • According to the U.S. Department of Labor, unemployment for those with a bachelor’s degree and higher is 3.9%, compared the national average of 7.8%.
  • An American with a bachelor’s degree can expect to earn more than $1 million more over their lifetime than someone who never went to college.

Copyright © 2013 The Financial Services Roundtable, All rights reserved.



Insights’s perspective on industry news and trends



Must-read news and insights from financial industry leaders



Compelling voices and contributed content from around the web

James W. Gabberty

Gabberty is a professor of information systems at Pace University in New York City. An alumnus of the Massachusetts Institute of Technology and New York University Polytechnic Institute, he has served as an expert witness in telecommunication and information security at the federal and state levels and holds numerous certifications from SANS & ISACA.

Marisa Mann

Marisa Mann brings over 15 years of experience in consulting and financial services industries to the Solstice team, working on large scale enterprise initiatives across many technologies, including specializing in the digital space – Internet and mobile. Mann is passionate about mobile and the endless possibilities for the enterprise, delivering business value through strong brand recognition and driving to excellence in the consumer experience. Prior to Solstice, Mann worked at JP Morgan Chase, Diamond Management and Technology Consultants, Washington Mutual, Inc, and Accenture.

Brad Strothkamp

Zachary Ehrlich

25-year-old writer, and as a native San Franciscan, I am unreasonably loyal to Bank of America, if only for their superhero-like origin story, involving the 1906 earthquake and Italian fruit vendors.