The process of taking out student loans can be nerve-racking, but the reality of paying those loans back can be downright sobering—especially when a looming, large number suddenly becomes very real during the repayment period.
Between 2003 and 2013, the share of 25-year-olds with government and/or private-student-loans climbed from 25 percent to 45 percent. In the 2011-2012 academic year, 10 percent of college graduates had more than $50,000 in student loan debt—in 1999-2000 that number was only about 1 percent. Growing debt is largely the result of climbing tuition prices, which lead many students to lean more heavily on borrowing than they once did.
More From
But even though the cost of tuition is rising, borrowing more money to bridge the gap can become problematic. “Increases in student borrowing and default rates raise concerns that some students may be borrowing too much,” according to a new paper from NBER, which takes a look at student-loan debt and instances of student-loan-debt default in an effort to uncover the best approach to repayment for both borrower and lender.
These Patrons make the Fowler Show possible ($20+ monthly donation on Patreon.com/FowlerShow) & we couldn’t do it without them!
Truthservers.com
Are you a fan of The Fowler Show? Become a Patron & help support independent media! Learn more here:
http://www.patreon.com/fowlershow
Want to help out but don’t have any money to donate? Donate your account & help us get our stories out on social media. Learn more here:
http://www.donateyouraccount.com/fowlershow
If you liked this clip, share it with your friends and hit that “like” button!
1,500 Subscriber Behind The Scenes Reward Video –
http://www.youtube.com/watch?v=LT9x1PvQTBU
Subscribe to our Podcast on iTunes for free!
https://itunes.apple.com/us/podcast/the-richard-fowler-show/id510713880
@fowlershow
@richardafowler
http://www.facebook.com/richardfowlershow
http://www.fowlershow.com
http://fowlershow.tumblr.com/
Comments
Seriously? Hey, love TYT … but you really step in it … when you bring up the student debt issue as if it is a community problem, that the community needs to solve. I know folks that simply work hard, spend less, and are getting an excellent education with zero debt. I have had student employees in the past, they had massive debt. They were not working aggressively. They were spending much of the debt on entertainment. Grow up … and accept responsibility for your poor judgement and spending decisions.