Monster in the Closet

Despite the economic recovery, student debtors’ ‘monster in the closet’ has only worsened:

Ten years after the 2008 financial crisis, there are headlines of record low unemployment and a booming economy. Yet one area has only worsened over the decade and threatens that recovery: student debt. Average debt at graduation is currently around 30,000, up from10,000 in the early 1990s. The country’s outstanding student loan balance is projected to swell to $2 trillion by 2022, and experts say a large portion of it is unlikely to ever be repaid; nearly a quarter of student loan borrowers are currently in a state of delinquency or default. Because of these loans, many Americans are unable to buy houses and cars, start businesses and families, save or invest.

Wall Street gets fat bailouts but not students. Seems totally fair to me.

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Education