• $24k average amount of debt a graduating college student has
• $800B amount in outstanding student debt — with 30% of it securitized
• 40% number of student loans that are in default after 15 years; not good source

• » This is huge. To put it in perspective: Student loans are the nation’s largest source of debt – even more than credit cards. Tuition has risen faster than inflation, and lenders are quick to help students. That’s because until 2009 the government had a program in place that purchased loans that weren’t paid back. That sounds a lot like the housing market, right? Couple all of that with the fact that college graduates are having harder times finding jobs, and you don’t get a very good picture over the long-term.

Posted by Justin Jones • Permalink