The student debt in America has hit $1 trillion. To give you some context, you’d have to spend $189,393,939 every single day for a year to reach that amount. With $1 trillion you could cover the cost of the United States national interstate system ($466 billion) more than twice over. You could cover the entire government healthcare budget ($959 billion) and have over $40 billion left over. With $1 trillion you could give every currently enrolled college student $45,800, most of which would probably be spent on beers and pizzas.
Thirty-seven million people in the U.S. have student loans—and the average debt load is $24,301. For those students who graduated college this year, the debt load is over $35,000. Of the $1 trillion, $150 billion is owed to private lenders, like banks—and $864 billion is due directly to the U.S. government. The trend is steady and consistent—education is getting incredibly expensive. In the U.S. the total student loan debt surpasses overall credit card debt.
Do you carry any student loan debt? If so, how much? Please share in the comments and check out the infographic below to learn more about the student loan debt crisis in America.
Source: Student Debt: A Million Millions