A Record Number Of American Households Are Carrying Student Loan Debt
Twin Falls, Idaho (KMVT-TV) A record number of American households are carrying student loan debt.
Student loan debt is on the rise as more people borrow money to attend college, according to a new report from the pew research center.
19-percent of U.S. households had student loans in 2010 - up from 15-percent just three years earlier.
The average student loan in 2010 was almost $27,000 more than double what borrowers owed in 1995.
Local residents are feeling the pain.
"It kind of depends on what you would define the worth of your education, is education important yes, but I'm grateful that I got the opportunity. Idaho State University tuition is $3,000 a semester. What's the importance of education” said Elizabeth Crane.
The nation's total student loan debt is approaching one-trillion-dollars, according to a report from the federal reserve bank of New York.
Student debt levels are rising across the board, but they are growing the fastest for the nation's poorest and most affluent.