By: Jennifer Tong
At the beginning of the month, Congress failed to stop subsidized Stafford loan rates from doubling for 7 million college students. As Congress struggles to come up with a solution, the Consumer Financial Protection Bureau projects that Americans will owe the government more than $1 trillion in student loan debt. Student loan debt is now larger and increasing faster than credit card debt. Throw in debt owed to private banks, and the debt increases to $1.2 trillion.
Learn more about what Jubilee USA is doing to protect our future leaders from being saddled with unsustainable debt here.