now, these cuts come at a time where young people are already having trouble paying for their education. "the wall street journal" reports last quarter that mortgage, debt, home equity, auto loans, all down sharply. partly because people were being more careful, but partly because many had defaulted. student loans, many up sharply. 11.2% of student loans were more than 90 days past due and the rate was steadily rising. only credit cards had a higher rate of delinquency, 12.2%. but those numbers have been on decline for the past four quarters, so if your parents were not wealthy enough to pay your way through college, it's likely you took some student loans if even if you had loans, to get a job to pay the loans back, but for millions of young people, that is no longer reasonable assumption. last month the unemployment rate among people age 20 to 24 was 14.6%.