The Growing National Student Loan Debt
October 27, 2011 in Daily Bulletin
According to this article by the USA Today, the total amount of student loan debt is going to exceed one trillion dollars by the end of this year. Some of the things they point out in the article are:
- Americans now owe more on their student loans then they do to their credit cards.
- The average college student is borrowing 63% more than ten years ago.
- The percentage of people defaulting on their student loans is increasing
To read more about the current and potential issues concerning student loans, click here.
Source: USA Today
Blame the perverse incentives surrounding the federal student loan program.
The Higher Education Bubble, people, the Higher Education Bubble.
What also worries me are the loans that doctors have incurred and are not paying. Is it even worth borrowing money to go to college anymore and it must be much harder to get a student loan because of the number of unpaid loans.. It’s getting scarier every year.
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