Student Debt Levels Keep Growing. Here's How to Help Minimize the Burden for Your Kids.
It's hardly a secret that student loan debt is a major problem -- one that's potentially approaching crisis levels. A whopping 43.5 million Americans owe money on student loans. But it's not just the number of borrowers that's problematic. There's also the fact that student loan debt totals have increased dramatically over the past 10 years.
In 2013, U.S. federal student loan debt totaled $948 billion. But by the last quarter of that year, outstanding federal student loan debt had crossed the $1 trillion threshold. And at this point, student loan borrowers owe a rather astounding $1.78 trillion.
That higher total may be a function of rising education costs. But it may also be a function of students being willing to extend themselves financially in the course of getting a degree -- whether that's a wise move or not.
Source Fool.com
