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Student Debt Nearly Tripled In 8 Years, New York Federal Reserve Reports:

Total student debt stands at $966 billion as of the fourth quarter of 2012, the N.Y. Fed said in press materials, with a 70 percent increase in both the number of borrowers and the average balance per person. Ref. Source 4

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For Recent Grads, Student Loan Delinquencies Reach 35%:

Since 2004, educational debt has nearly tripled, to $966 billion, surpassing credit-card debt, auto loans, and home equity lines of credit to take second place behind mortgage debt, with a total balance moving steadily toward $1 trillion. Even through the recession, student debt showed no signs of stopping. Ref. Source 7

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Student loans can trap parents, too, in delinquent payments

Borrowers who are age 60 or older are the fast-growing age group for education loans. Ref. Source 5

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Student debt, job market creating 'generation of wage slavery':

Americans now owe more money on student loans than on credit cards, according to the Federal Reserve Bank of New York: Students are borrowing twice as much as they did ten years ago (after adjusting for inflation). Lawmakers in Congress have given lenders, including the government, unprecedented collection power. Ref. Source 3

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Being Blind To Financial Need: Is It Worth It


Millions of students rely on loans and grants for their studies. But with universities strapped for cash, fewer schools are able to admit students regardless of their financial need. Host Michel Martin asks the President of Iowa's Grinnell College, Dr. Raynard Kington, why his school considered putting a halt to need-blind admissions.
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USA College Aid - Student Loans

The U.S. Senate voted today against taking up a Democratic measure to temporarily reverse the doubling of some student loan rates, falling short of the 60 votes needed.

Negotiations continue on a compromise that would hold off on new loan rates for this year. Ref. CNN

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Congress Called On To Reverse Student Loan Rate Increase


Rates on federally subsidized Stafford loans, which help low and middle-income college students, doubled on July 1. There is now pressure for a deal to undo the increase. NPR's David Greene talks to Matthew Chingos, a fellow at the Brookings Institution's Brown Center on Education Policy.
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Lawmakers Work To Finish Deal On Student Loan Rates


A bipartisan group of senators announced a deal Thursday to protect college students from an interest rate hike on federal student loans. Those rates doubled on July 1, and lawmakers raced to forge an agreement before most students begin taking out loans for the new school year.
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