Yes, it is the US of A.
What we’re seeing with the highest [student] debtors is unbelievable,” says Darryl Dahlheimer, program director for financial counseling at the nonprofit Lutheran Social Service. “It’s a lifelong maiming of their finances.” One in three holders of student debt today is 90 days late or more on their payments. “Once you default, it’s a matter of cascading penalties,” he says. “It’s a forever escalator down to pain.”