Students loans have been a hot topic lately. Now there is another bit of news to add to the fire: student loans amounts have surpassed credit card debt and auto loan amounts.
Students owe $1.2 trillion dollars in loans, which is more than the totals of credit card and auto loan debt amounts in the United States. And its even more hard to believe that that $1.2 trillion is a number that has tripled over the last decade. Student loan debt rates now are the second highest source of debt, trailing behind mortgages. New York State alone holds $60 billion of that total debt with each student owing an average of $27,310 in student loans.
Loans pile up and the politicos keep on stating that resolving this crucial issue is at the top of their election platform agenda. Only time will tell. Or maybe we all should just set up a giant lemonade stand to solve the problem. It might be more effective. Thankfully, there is a service that can try and help us called Student Loan Foundation, perhaps signing up for some information may help? Regardless, we are all in this together!
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