There are several ways to fix student loan debt problems. None of them could be defined as “quick.”

 

According to a report released by the Federal Reserve Bank of New York in February, student loan debt has climbed to $1.16 trillion. While still a distant second to U.S. mortgage debt ($8.17 trillion), it now exceeds the total value of every U.S. car loan ($955 billion), all credit card debt ($700 billion) and all home equity loans ($510 billion). It's also just shy of all the money ($1.3 trillion) the Federal Reserve has in circulation. If that student loan debt grows by another $33 billion, as it did last quarter, every dollar bill and handful of spare change in the country couldn't pay it.

Direct download: Ross_K_Urken_25.Mar.15.mp3
Category:general -- posted at: 5:39pm EDT
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