What tallies up to about $1.5 trillion and has surpassed the United States total credit card debt by over $600 billion? Student loan debt.
Spread out among over 44 million borrowers, student loan debt has become the second highest consumer debt category, falling only behind mortgage debt. The average 2016 graduate has over $35,000 in debt which is up six percent from last year.
In 2012, 66 percent of graduates from public colleges had some sort of student loan debt. That number goes up to 75 percent when youre talking about private, nonprofit college graduates. Finally, 88 percent of graduates from for-profit colleges had loan debts after they finished school. Not only that, but considering several years have passed since these numbers we…
Read the full article at: http://edtechtimes.com/2017/06/05/student-loan-debt/