Student Debt Nears One Trillion Dollars – 6.25% of National U.S Debt

(click picture above to start video)
This is scary, the total U.S government debt is 16 Trillion roughly, and the student population debt is 1 Trillion which is 6.25% of the national debt…you do the math.

Now 11% of student loans are defaulting and on top of this, many students are not paying their loans right now. This is going to add to hinder the U.S GDP going forward, because this huge population of students and graduates (young Americans) will be poor over the next 5-10 years at minimum. No more cool iPhones and hip clothing.

This of course will add to the pressure that the U.S economy will be in a recession/depression in 2013 and 2014 (although many economist think America is already in a recession now).

This entry was posted on Monday, December 10th, 2012 at 8:30 am and is filed under Debt Management, Economy, Job Related, Personal Finance, Videos. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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