Student Debt Bubble - part 2
WILL STUDENT DEBT BE AMERICA’S NEXT FINANCIAL BUBBLE?
STUDENT DEBT IN THE U.S. (PART 2)
The second of a three-article series about the steady rise of student debt levels across the country. The first article examines the dynamic between reduced state spending, higher tuition rates, and increased student debt levels. The third and final article examines some potential consequences of the student debt crisis.
For the past two decades, student debt has risen each year. In the last eight years, the number has tripled, culminating in today’s shockingly all-time high: according to FinAid.org publisher Mark Kantrowitz, the class of 2013 incurred an average of $30,000 in student loan debt. Although debt has long been a problem for American students, it has only recently spiraled to this unmanageable level. So what’s going on? This article will provide a historical overview of student debt in the United States.
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