Student Loan Defaults are Surging

Bob, I saw this article about the surge in student loan defaults. How do you think this will affect the stock market?

Below is the article I found:

More Americans are defaulting on student loans despite a strong economy, The Wall Street Journal reports. Roughly 4.6 million people were “severely behind” on their payments in the third quarter, a two-fold increase from 2013. Defaults accounted for 13% of the $631 billion in required payments, according to the Education Department. The trend could have longer-term implications for the economy’s growth: Defaulted borrowers — those who haven't paid in at least a year — could hurt their credit and subsequently their ability to take out loans for homes, cars, and other big purchases.

@JudithParrish - This was bound to start to get out of control. There is one thing that I don't agree with in the article. the economy is far from strong to the point every day people are benefiting from it. Thus, that is driving the defaults. If the economy was as strong as the article states, those loans would be paid back.