Student Debt Hits Record $1.31 trillion

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Is student debt spiralling out of control? Total U.S. student debt hit a record $1.31 trillion in 2016, the 18th consecutive year Americans’ education debt grew, according to the Federal Reserve Bank of New York.

Almost  one-quarter of student debtors whose bills have come due are in default or 90 days late on their monthly bills. Delinquencies have remained stubbornly high, despite attempts by the former Obama administration to make loan payments more affordable.

 

 

Source: Bloomberg

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