Ackman Says Student Loans Are the Biggest Risk in the Credit Market
College students in the U.S. that take out federal loans are likely to see interest rates jump -- potentially by a percentage point or more -- in the coming academic year.
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Bill Ackman says the biggest risk in the credit market is student loans.
“If you think about the trillion dollars of student loans we have outstanding, there’s no way students are going to pay it back,” Ackman, who runs $20 billion Pershing Square Capital Management, said today at 13D Monitor’s Active-Passive Investor Summit in New York.