Finance

The student loan crisis could finally be addressed in 2020

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Outstanding education debt has outpaced credit card and auto debt. The average college graduate leaves school $30,000 in the red today, up from $10,000 in the 1990s.

Nearly 40% of students who took out loans in 2004 will default on their debt by 2023, according to the Education Department’s own figures released this week. Meanwhile, five years after graduation, half of borrowers are still only paying the interest on their debt.

Which proposals come to fruition remains to be seen, but one thing is clear: As discontent with the current system remains, discussions about changing it will, too, wear on.

U.S. Education Department weighs changes

Betsy DeVos, United States Secretary of…



Source cnbc.com

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