Student debt has been in the news lately, and for good reason. Student debt more than doubled between 2004 and 2012, increasing from about 350 million dollars to just shy of one trillion dollars. In 2008, student debt was the smallest of household debts. Today, among household debt, student debt is second only to mortgages, and it has surpassed credit cards. What happened? This Staff Report from the Federal Reserve Bank of New York susses out the details of this extremely complicated and far reaching problem. The twenty page report will be of use to policy makers, university administrators, guidance counselors, and anyone who is interested in the economics of student debt in America.
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