Student loan tsunami on the horizon:Â Of $847 billion in Direct Loan program, only $535 billion is actually being paid back at the moment.Â
The amount of student debt continues to grow like a skyscraper reaching for the clouds. There seems to be an unlimited amount of student debt that college students are willing to take. As of today, there is $1.44 trillion in student debt outstanding. But how much of this is being actively serviced? After all, if […]
Debt Apocalypse: US Student and Auto Loans Hit New Record of $2.6 Trillion.
American consumers are once again spending beyond their means. Just a few months ago there was a startling headline reporting that US consumers now had over $1 trillion in credit card debt outstanding. That seemed astonishing in itself but now looking at debt levels in other sectors we find that auto loans outstanding are also […]
Graduating with a Degree in Debt: The Average Student Debt Balance for Seniors is now $40,000.
The runaway cost to attend college just continues to sprint ahead. The average student loan balance for graduating seniors is now $40,000. This is astronomical considering the per capita wage of Americans is in the high $20,000 range. The math behind this astronomical debt is rather clear and simple to follow. Student debt is one […]
Roughly one third of college students spend their loans on spring break and partying.
There is a massive student loan epidemic in the United States. Over $1.4 trillion in student debt is floating around in our economy lingering like an albatross on the necks of many young students. While the idea of getting a college degree is more popular today than ever, it would seem like going to spring […]