More than a trillion in debt
17 juli 2013 | The American student loan debt is now over a trillion dollar, the Consumer Financial Protection Bureau calculated. This news comes a few days after the interest rates on several student loans have doubled from 3.4 percent to 6.8 percent.
More and more American students are in debt, and their collective debt rises steadily. In total 37 million students and former students have a collective debt of 1.2 trillion dollar.
A dark shadow
Almost 20 million American attend college each year and 60 percent of them borrows money to cover their study costs. The average debt for students that graduated in 2011 was $26,600, a 5 percent increase from approximately $25,350 in 2010. This rising debt casts a dark shadow over the American economy.
What would a trillion dollar buy you?
infographic by CreditScore
