October 10, 2011

Student Loan Debt Clock Stands at $947 billion

Finaid.org has a live running tally of the total outstanding student loan debt.   Here's an embedded feed of their debt clock :





As I write this the number is over $947 billion.   It keeps ticking and growing so as you read this the number will be more.   In any case its a big amount of money.

The clock is not a true representation of the debt.    Student debt grows in large spurts right around the start of the school year and start of each semester or quarter as students take out loans for the new term.   Then over the year I would actually expect the total debt to drop marginally as people with outstanding debts pay down their loans.   But the clock is setup to just show the debt and show how its growing over time.  

1 comment:

  1. Many industries are mistery to me - education, medical, law...

    It cost so much to get an education and yet, it is barely economically profitable. But this is raises a question - aren't we have too many generals and to few soldiers?

    What if improve basic eduction - secondary & high schools? Maybe this will be enough for the most of us?
    This slows down birth rate as well, as people spend their 20-ies and early 30-ies just to get out of debt, before their can afford another one....mortgage...

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