I can't find any breakdown in this LA Times piece, but I have to wonder: How many of these loans are from the shell game run by for-profit colleges? Because they're almost designed to have students default, much like mortgage derivatives. And in
Why Is College So Expensive? Might Have Something To Do With The Huge Securities Bubble That's Backed By Feds
"What kind of incentives motivate lenders to continue awarding six-figure sums to teenagers facing both the worst youth unemployment rate in decades and an increasingly competitive global workforce?" Why, I'm glad you asked that question!