401(k) Loan Defaults Skyrocket

More and more Americans are borrowing from their 401(k)s to pay their bills, but fewer are putting any money back. Result: They are defaulting on loans made to themselves with their own money. A new study estimates that such defaults might total $37 billion a year, a sharp increase from 2007, when defaults totaled only $665 million. Student loan defaults, by contrast, total about $8 billion. The study -- titled "401(k) Loan Defaults: How Big Is the Leakage and What Can Policymakers do to...Full Story
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