School Daze: We Have The Highest Student Loan Debt Of All Time!!!

- By Bossip Staff Categories: Bolitics, Pay Yo Bills, We Broke It Here First!

loan

Yep, we’re in deep student loan doo doo. Awesome.

The amount of student loans taken out last year crossed the $100 billion mark for the first time and total loans outstanding will exceed $1 trillion for the first time this year. Americans now owe more on student loans than on credit cards, reports the Federal Reserve Bank of New York.

Students are borrowing twice what they did a decade ago after adjusting for inflation, the College Board reports. Total outstanding debt has doubled in the past five years — a sharp contrast to consumers reducing what’s owed on home loans and credit cards.

And this has further issues because the economy will suffer with so many adults starting life in debt. This delays their ability to buy houses, cars, get married and have children. SMH. Wasn’t Obama going to give us some student loan debt relief at some point? We’re waitinnnnnng.

Source

We Recommend

More on Bossip

No Mercy: People Are Roasting Fabolous’ Grandmother To No End

Sak Pase! Komon Ou Ye? 15 Celebrities You Didn’t Know Were Haitian

Hey Stupid: 15 Everyday Things That Are Making Us More Dumb

Back That Thang Up: 15 Celebrities You Never Knew Started Out As Background Singers

Comments

blog comments powered by Disqus