Robert Hiltonsmith on The Union Edge: The Real Student Loan Crisis

| audio

The Union Edge's Charles Showalter interviewed Demos Policy Analyst Robert Hiltonsmith about the present student debt crisis.

Hiltonsmith wrote the recently released Demos report, At What Cost? How Student Debt Reduces Lifetime Wealth

With two-thirds of college seniors graduating with an average of $26,600 in student loan debt, this brief finds dual-headed households, who borrow a total of $53,200 in educational debt, see a lifetime wealth loss of nearly $208,000. 

Nearly 39 million Americans have funded their higher education with student loans, bringing the country’s current total to $1 trillion in student loan debt – quadruple the $240 billion that it was in 2003. If current borrowing patterns continue, student debt will hit $2 trillion by 2025.