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Student Loans – an expensive lesson in excessive debt

Aug 12, 2010

College may be the best 4 years of your life. But what about all those student loans you’re still paying off… when you’re 52? According to the Federal Reserves, outstanding student loans totaled around $830 billion in June while average college tuition is $26,000 – minus all those textbooks and room and board. When you look at the numbers, student loan debt is larger than credit card debt, a fact that’s making many parents nervous about paying for their kid’s tuition. Unemployed or not, student loans are sucking the money and life out of American families. But how can we balance out the importance of higher education with inordinate amounts of debt?

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