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Student-Loan Debt Tops $1 Trillion
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Total student debt in the U.S. passed the figure of $1 trillion in late 2012, according to the Consumer Financial Protection Bureau, the federal agency recently created. This figure is about 16% larger than an estimate made earlier in 2012 by the Federal Reserve Bank of New York. The surge reflects increasing numbers of people going back to college to get new skills in a faltering job market. Tution increases with cuts in state funds to colleges mean larger loans need to be taken. Another factor is that about 25% of borrowers are behind in payments, resulting in higher interest payments, according to New York Fed data. Experts say this could delay the recovery in the housing market, as potential home buyers take longer to build up funds for a down payment. Parents are co-signers on some loans for children and professional changing careers are also taking loans, creating larger effects of rising student debt.
Growing burden of college loans and student debt in the U.S. in 2011-2015
04/11/2011
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Pell Grants and the Debt Ceiling deal of August 2, 2011
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Pell Grants for low income students will increase under the Debt Ceiling deal of August 2, 2011. The increased funding comes from defunding of interest on graduate student loans while students are in school.
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Student Loan Debt Is a Drag on the Economy, Too
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College Tuition Increases Slow, but Government Aid Falls
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The Ripple Effects of Rising Student Debt
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A Quiet Revolution in Helping Lift the Burden of Student Debt
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College Grants Spared From Spending Cuts
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The lack of a future for many young law school graduates in the U.S.
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The added burden of financial loans upwards of $250,000. Even mediocre schools charge $43,000 and a class of 25 students brings in a million dollars for law schools, which try to fudge the figures to present a rosy future when it is just the opposite.
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New York Times 06/07/2014
For Law School Graduates, Debts if Not Job Offers
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Surging Student Debt Pushes Up Overall Consumer Credit
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Student-Loan Debt Tops $1 Trillion
Wall Street Journal 03/22/2012
Student Loan Interest Rates Loom as Political Battle
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New York Times 04/29/2012
Obama's plan for U.S. student loans.
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Making college affordable andf lightening the burden on parents and poor students.
Grouped Articles
Congress Passes Bill on Highways, Student Loans and Flood Insurance
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College Tuition Increases Slow, but Government Aid Falls
Wall Street Journal 10/23/2013
Student Borrowers and the Economy
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Big Changes on the Way in Lending to Students
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Government to Simplify Online Application for College Loans
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New Plan Ties Reduced College Loan Payments to Income
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Arne Duncan and the Education Department's plan to save $87 billion going to banks for subsidies to make student loans.
01/28/2009
Arne Duncan wants to use the funds to help low income students and community colleges.
Grouped Articles
U.S. Schools Chief Arne Duncan Labors to Straddle Political Divide
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College Tuition Increases Slow, but Government Aid Falls
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Escaping the constraints of ‘No Child Left Behind’ - The Washington Post
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Wall Street Journal 08/23/2015
Banks Don't Belong in the Student Loan Business
Wall Street Journal 12/18/2009
For-Profit College Grads Also Earn a Life of Debt
BusinessWeek 01/06/2011
The worsening education slowdown in the U.S. with the increase in student debt
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Linked Articles
Education Slowdown Threatens U.S.
Wall Street Journal 04/26/2012
Student-Loan Debt Tops $1 Trillion
Wall Street Journal 03/22/2012
How U.S. student debt of over $1 trillion in 2011 can delay a recovery in the U.S. housing market and have serious implications for the U.S. economy
04/11/2011
Linked Articles
Student-Loan Debt Tops $1 Trillion
Wall Street Journal 03/22/2012
College Loans Weigh Heavier on Graduates
New York Times 04/11/2011
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