Here in the UK, things aren’t that much better. I graduated in 2004 after a four year undergraduate degree in London. My student loan was the first year that we had to borrow money for both the course and living costs. And I’m lucky: I went to a private college where the $5,000 tuition bill every term wasn’t one I had to pay.
Still, I ended up with a £20,000+ student loan. Ten years later, I’m still paying it off, very, very slowly.
“Student loan debt in the United States is currently sitting at $1.2 trillion. Seven in 10 college students who graduate have a student loan debt. They graduate with an average of $29,000 of debt. Here’s an idea for you: How about a bailout for student loan debt across America?”
– Ed Schultz on the need to reform student loans