The Truth About The College Debt Crisis.
The cost of higher education continues to rise and college debt has reached unsustainable levels. Potential students are faced with an increasingly more difficult decision: Do the benefits of college outweigh the costs? Is a college degree worth it? What are the parallels between the housing bubble and the current situation with student debt? How did we come to this point and what is the future of the United States higher education system? Find out the answers to these questions and many more in the The Truth About The College Student Debt Crisis!
The cost of college is putting a heavy burden on society as well as young adults. The Economist reported in June 2014 that U.S. student loan debt exceeded $1.2 trillion, with over 7 million debtors in default. In 2014, there was approximately $1.3 trillion of outstanding student loan debt in the U.S. that affected 44 million borrowers who had an average outstanding loan balance of $37,172. Over 1.2 trillion, and it’s getting worse and worse. Eventually something has to give, or we will see a collapse. You can see the US national debt clock here, to see all of “our” other outstanding loans and payments. Pretty crazy if you ask me.