Federal Reserve Chairman Ben Bernanke piggybacked on the comments by John Kerry by saying;

"Some evidence, including recent Federal Reserve research on consumers holding adjustable-rate mortgages, suggests that awareness could be improved, particularly among borrowers with lower incomes and education levels,"

In turn, the market for "sub-prime" borrowers -- people with weaker credit records who are considered higher risks -- has grown considerably over the years.

Facts are facts. It’s not always the case, but people who have an education normally do better economically than those who do not.

Bernanke's remarks came after John Kerry told students yesterday;

"That if they studied hard they could do well, but if they didn't "you get stuck in Iraq".