Student Debt Nears $1 Trillion

Total student debt has nearly tripled over the past eight years, a new report from the New York Federal Reserve has found.

Total student debt stands at $966 billion as of the fourth quarter of 2012, the N.Y. Fed said in press materials, with a 70 percent increase in both the number of borrowers and the average balance per person. The overall number of borrowers past due on their student loan payments has also grown, from under 10 percent in 2004 to 17 percent in 2012. Read the entire story at Huffington Post.

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