Student loan debt more than quadrupled from $300 million to more than $1.1 trillion from 2004 to 2014
2010 student loan debt surpasses credit card debt for the first time in history…credit card debt actually declined from $800 million to $700 million since 2010 while student loan debt increased from $800 million to $1.1 trillion
Student loan defaults, of course, are at a 20 yr. high
Your average politician will look at this as a crisis to throw more money at….like Obama’s community college comments….
Financial institutions like JP Morgan are forecasting four year costs for newborns in 2014 to be $190,000 for public and $475,000 for private in the coming decades.
Economic fact…subsidize a market (education) and the costs will never, ever go down.
Get the govt out of education on all levels!!!!
The reality of economics is the subsidy of loans drives the price through the roof
Jack Iannantuono, CFP®, ChFC®, MSFS, AIF® | Indicon, Inc.