Student Debt... It's Worse Than You Thought
by Natalie Lubsen on May 2, 2014 | Views: 274 | Score: 3
| Total outstanding educational debt | |
|---|---|
| 2004 | 364 |
| 2012 | 966 |
Dollars (Billions)
Sources:
thinkprogress.org, newyorkfed.org
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by Natalie Lubsen on May 2, 2014 | Views: 274 | Score: 3
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According to the Federal Reserve Bank of New York, the total outstanding educational debt has nearly tripled in the the last decade, growing from $364 billion in 2004 to $966 billion in 2012. On average, it rose by 14% every year.
Why do you think this is? Are more students attending college? Are colleges transferring a larger proportion of tuition costs to students? Are colleges spending money on non-essentials and also driving up the price tag?