Student Loan Debt Soars
By: Newsroom Solutions
Updated: October 19, 2011
Student loan debt is soaring to an all-time high.
Total outstanding loans will be in excess of a trillion dollars for the first time this year.
The Federal Reserve Bank of New York says Americans now owe more on student Loans than on credit cards.
The massive amounts of money through federal loan programs places young people in financial jeopardy as they begin adult life deeper in debt.
Mark Kantrowitz, publisher of FinAid.org, says students who take borrowing to the extreme delay life-cycle events such as buying a home or a car.
Total outstanding loans will be in excess of a trillion dollars for the first time this year.
The Federal Reserve Bank of New York says Americans now owe more on student Loans than on credit cards.
The massive amounts of money through federal loan programs places young people in financial jeopardy as they begin adult life deeper in debt.
Mark Kantrowitz, publisher of FinAid.org, says students who take borrowing to the extreme delay life-cycle events such as buying a home or a car.
