Americans owe $1.2 trillion in student loan debt, a number that has tripled in the last decade, according to a recent NY Daily news article. Student debt now exceeds the total of auto loans, credit cards, and home-equity debt balances, making student loans the second largest debt of U.S. households only following mortgage debt. Nearly 20 million Americans attend college each year; of those close to 12 million, or 60 percent, borrow annually to help cover costs. There are approximately 37 million student borrowers with outstanding student loans today, and only 37 percent of federal student loan borrowers (between 2004-2009) […]
-Read MoreEffects of the Student Loan Bubble
- Jeff Masters
- 2 Jul 2014
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