Student loans outstanding will exceed $1 trillion this year
By Dennis Cauchon, USA TODAY
Students and workers seeking retraining are borrowing extraordinary amounts of money through federal loan programs, potentially putting a huge burden on the backs of young people looking for jobs and trying to start careers.
The amount of student loans taken out last year crossed the $100 billion mark for the first time and total loans outstanding will exceed $1 trillion for the first time this year. Americans now owe more on student loans than on credit cards, reports the Federal Reserve Bank of New York.
Students are borrowing twice what they did a decade ago after adjusting for inflation, the College Boardreports. Total outstanding debt has doubled in the past five years — a sharp contrast to consumers reducing what’s owed on home loans and credit cards.
3 Comments to “Student loans outstanding will exceed $1 TRILLION this year”
“While We Were Sleeping”
Orwell Rolls In His Grave, featuring MCM – Buy the DVD
About News From Underground
News From Underground is a daily e-news service run by Mark Crispin Miller, a Professor of Culture and Communication at NYU. It is based on his belief that academics, like reporters, have a civic obligation to help keep the people well-informed, so that American democracy might finally work.
If you'd like to receive updates delivered to your inbox daily, sign up for News From Underground Alerts:
Help News From Underground!
Message from Mark: "I am a one-man operation, although assisted greatly by some volunteers, and, now and then, by people paid by others for one-time projects. There is no shortage of skilled, dedicated folks out there who want to help me. There is, however, nothing I can pay them with, unless you decide you can contribute something."
Please donate via the PayPal button above or via PayPal by email to: firstname.lastname@example.org
- Democrats are partying like it’s 1952, and they’re Republicans—or Birchers.
- Two more on why Flynn went down…
- Why they made Trump dump Flynn (and what about Obama?)
- What news out of Japan is “fit to print,” according to the New York Times? Their choice could make you sick…
- On “killers” working for OUR government, Trump spoke the truth—and our “free press” freaked out…
- Contact Lou Dobbs on
- Forbidden Bookshelf on
- Top US spooks see NO “conclusive evidence” of Russian hacking in Election 2016 on
- How blaming Trump’s “election” on the Russians could force Hillary on us after all—and end US democracy for good… on
- Election theft in Michigan and Florida may have been more dramatic than we think… on
- The strange death of Nancy Schaefer (two items)
- Democrats are partying like it's 1952, and they're Republicans—or Birchers.
- Forbidden Bookshelf
- Two things that never happened: "the Bowling Green massacre," and "Russia's invasion of Ukraine"
- Local sheriff wanted Phillip Marshall's home professionally cleaned after the murder
- Writers Voice
- Cody Lyon
- Talking Points Memo
- Democratic Undergroud
- Online Journal
- Barry Gordon
- Suburban Guerrilla
- History Unfolding
- t r u t h o u t
- Election Defense Alliance
- Evil GOP Bastards
- alias Bruce
- Words of Power
- Thom Hartmann
- The International Human Press
- Early America
- The Existentialist Cowboy
Need a bigger font size?
- Your link could be here too, contact us for pricing details.