I just read an article in USA Today about student loan debt, and it claimed, "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."
When I got in touch with a leading expert in the field, Mark Kantrowitz, founder of Finaid.org, by email and asked about this assertion, he confirmed it was accurate. Kantrowitz's site has a "Student Loan Debt Clock" with outstanding loan debt currently at $950 BILLION. Think of all the families being ruined because of this fraudulent system. We, as a country, have gone of the deep end when it comes to higher education. This is despicable, and I am receiving letters of support from people who live in other countries. They are aghast and shocked by this crisis.
So there are absolutely NO solutions to the student lending crisis, and we're going to be hitting $1 TRILLION this year! When will our politicians wake up and do something about this calamity?!? Time to organize, folks.