By Allie Gregory | 64 comments
Here's what you need to know about Student Loans:
1. The first 3 months of 2013 were the worst on record for student loans.
2. In those 3 months, $3.5 billion in gov’t and private loans went bad.
3. In the last 30 years the cost of college has sextupled.
4. Over 6.8 million federal student loan borrowers have defaulted.
5. US Department of Education system for collecting bad loans is struggling to keep up with over $85 billion debt.
We need to solve the impending student loan crisis before it’s too late. Here's our chance, Sen. Elizabeth Warren has introduced a bill that will give students the same ultra low interest rates as big banks.
“As a country, every time we advance money to the big banks at low interest rates, we invest in those banks. We should be making at least that same kind of investment in our students.”