EDUCATION
Student Loan Debt
U.S. student-loan debt doubled between 2009 and 2019, reaching $1.52 trillion. Student-loan debt now constitutes a national crisis, which has been caused by a combination of falling state funding for college and grant aid, coupled with skyrocketing college costs. The overwhelming majority of student-loan debt is composed of federal loans that cannot be refinanced. It is estimated that more than 900,000 Wisconsinites carry some student loan debt: that’s 21% of Wisconsinites older than 20 years of age. Among Wisconsinites graduating from a public or nonprofit private college in 2018, 64% had student debt, and on average owed $31,705. Read The Institute of College Access and Success’s 14th annual report on student loan debt below. It explains how the debt has reached crisis proportions, how it is eating away the middle class and stifling economic growth and equity.
Learn More:
The Institute of College Access and Success’s 14th annual report on student loan debt: https://ticas.org/wp-content/uploads/2019/09/classof2018.pdf
What Can I Do?
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ISSUES ARCHIVE:
