Looming Loans & Scary Stats: A Student Loan Debt "Bubble" ?
The statistics on student loans are scary: Student debt skyrocketed to more than $867 billion last year, and nearly 15 percent of borrowers defaulted. Tuition is rising steadily amid a weakened economy and an 8.3% unemployment rate. The rising debt load has led to warnings of a student debt "bubble" akin to the housing mortgage loan crisis. But many experts say the real picture isn’t as grim as the headlines. Kojo explores what’s behind the numbers, plans to combat student debt, and how we’re rethinking paying for college.