You know it is a massive problem. However, are you aware of just how big?
Everyone knows one education loan obligations try an emergency contained in this nation, yet not as many individuals discover exactly how serious and you may widespread its. Its a narrative most readily useful told through statistics, and people statistics reveal that this will be problems having many of People in the us that displays zero signs of abating. Here are four quite shocking factual statements about the brand new college student debt drama.
1. Student loan financial obligation is actually a beneficial $step one.5 trillion situation
People in the us are obligated to pay over $step one.53 trillion from inside the student loan financial obligation, according to the newest research throughout the Federal Set-aside, which matter shows no manifestation of decreasing any time in the future. In the forty-two.seven million somebody hold some student financial obligation.
The new driving force about so it drama has been the brand new ascending costs away from tuition and you will room and you may panel from the public and personal colleges nationwide.