Saturday, April 21, 2012
By Online Schools
Student loan debt in the United States has grown to over $1 trillion dollars
- that’s more than the GDP of more than half of the countries on earth.
But how did it get this far? The biggest factor in play is the
increasing cost of tuition. Tuition is at an all time high and naturally
students are taking out larger loans.
The rising cost of tuition coupled with a weak job market is going to mean trouble for many graduates. As the amount of debt continues to pile up and as graduates continue to have difficulty finding a job, many are forced to work jobs that will not allow them to even make minimum payments on their loans.
As a current student or a prospective student, you should know the ins and outs on the terms of your school loans and know exactly what the cost of your education will really be. This infographic will explain to you how student debt in America has become a burden to many families across the nation.
Further Reading - U.S. Student Debt To Reach $1.4 Trillion by 2020
