Download file to see previous pages...
A total of 700,000 Americans aged 65 and above were in default by of their student loans by 2013 according to the U.S. Government Accountability Office report released on September 10, 2014. The default by the baby boomers amounts to $18 million representing 16% of the total student loan debt of $1.2 trillion. According to GAO student loans held by borrowers aged between 25 and 49 years amounts to 12%, which is lower compared to the 16% of the baby boomers. According to the FED, about 2 million Americans aged 60 and above owe $36 million in student default loans. The other problem is that the baby boomers have more problems repaying the loans and most them are in default compared to the 25-49 age bracket. According to Stratford (2014), the default rates for those aged above 75 is much higher at over 50%. The effect is that retirees have income below poverty threshold owing to the high student loan default rates depicted from these statistics. Siedel (2013) provides a summative statement of the problem of baby boomers having high student default rates. “At some point, lack of savings, lack of employment possibilities and failing health will catch up with the overwhelming majority of the nation’s elders. Let me emphasize that we’re talking about the overwhelming majority, not a small percentage who arguably made bad decisions throughout their working lives” (Siedel 2013).
Several reasons could have led to the high student default rate among the baby boomers including the Glass-Steagall Act, which was in effect during the 1970’s when baby boomers were graduating from college. The effect was that baby boomers banked their money and applied for mortgages from Savings, Loans, and Private banking institutions. There was capping of interest rates and strict regulation on the rise and fall of interest rates with Regulation Q being in effect during the time. Signing of the Depository Institutions
...Download file to see next pagesRead More
Cite this document
(“Sociology mini research paper Example | Topics and Well Written Essays - 1250 words”, n.d.)
Retrieved from https://studentshare.org/sociology/1686644-sociology-mini-research-paper
(Sociology Mini Research Paper Example | Topics and Well Written Essays - 1250 Words)
“Sociology Mini Research Paper Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/sociology/1686644-sociology-mini-research-paper.
She began her career in the mid 60s and was admitted in Mississippi Bar. In her entire professional career in America, she has acted as an advocate for the disadvantaged. The CDF became a national voice for children and families under her leadership. She also started the Washington Research Project.
Mongolian Educational System after 1990 IV. Issues, Implications and Possible Solutions V. Conclusion and Recommendation VI. References The year 1990 marked the collapse of totalitarian regimes and the rise of market based economy. Post-communist countries are in a state of transition.
Through such depictions, we are engaged and connected with each other. This paper shall discuss a feature film, particularly Slumdog Millionaire and assess it as a cultural product. It shall discuss its various aspects which shed light on popular culture in contemporary society.
This phenomenon was recognized to be one of the outcomes of capitalism, which was inclined to driving people away from their lands, families and parishes that eventually reduced the cases of arranged marriages. Officials began studying these groups of people whom they branded as sexual deviants and categorized according to the particular behavior they engaged in.
Although the current “don't ask, don't tell” policy has already been repealed, there is a danger this ban will again be re-imposed once the Republican party will win next year's presidential elections. The U. S. military should be insulated from politics and it should adopt a well-thought out policy with regards to recruitment for service members.
Domestic violence among Islamic women in America is one of the complexities that relate to sociological trends. The representation of domestic violence for Islamic women in America is often ignored and overlooked, specifically because it has become a marginalized group of individuals.
Whereas the aborigines have demonstrated a strong connection with their natural habitat, modernity has posed a serious threat to the existence of aborigines and their indigenous environment (Tough, 1997). I have noted with interest the similarities between the
PPP adjustment takes into account the necessity of countries maintaining balances as to avoid making misleading comparisons; there adjustments have to be made to include only a county’s income. Per capita is used because it measures everyone’s income and therefore
t helps to distinguish personal attributes of principals towards students with disability and their families from professional educational attributes. With this form of distinction, it is possible to give a fairer assessment of the outcomes of principal attitudes (Shelden,
3 Pages(750 words)Research Paper
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Research Paper on topic Sociology mini research paper for FREE!