Education loan defaults soar 47% on weak job market

Education loan defaults soar 47% on weak job market

HIGHLIGHTS A weak job market and wilful default by even those in well-paying jobs have hit the education loan portfolio of state-run banks. Non-performing assets soared by almost 47% between March 2015 and last March, data shared in Parliament showed. The problem is so acute for at least five lenders that the stock of bad loans has more than doubled. NEW DELHI: A weak job market and wilful default by even those in well-paying jobs have hit the education loan portfolio of state-run banks with non-performing assets soaring by almost…

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Kroton sees no relief in Brazil distance-learning defaults

Kroton sees no relief in Brazil distance-learning defaults

  SAO PAULO, Aug 11 (Reuters) – The number of Brazilian distance-learning students in arrears on their tuition fees or loans is not showing signs of abating yet, reflecting record unemployment and declining household income, executives at Kroton Educacional SA said on Friday. However, defaults in the campus-learning segment are showing signs of improvement, executives led by Chief Executive Officer Rodrigo Galindo said during a conference call to discuss second-quarter results. Profit at Kroton, Brazil’s largest for-profit education firm, came in at 644.9 million reais ($203.1 million), beating forecasts. (Reporting…

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