Monday, May 23, 2011

Student Loan Crisis by the Numbers

  • Over $100 billion in federal education loans are originated every year.

  • In 2009 $11.5 billion of loan principal was in default.

  • $23.6 billion in defaulted loans in the FFEL program

  • $23.8 billion in defaulted loans in Direct Loan program


  • The estimated total private student loan debt outstanding as of June 30, 2009 was about $157.8 billion.

  • Public sector workers are NOT required to pay back their loans after 10 years of service.

  • Of college graduates age 25 and under, 22.4% are not working at all, 22% are working in jobs that require NO college degree.

  • Over the last 20 years, universities and colleges have doubled their full-time support staff. At the same time enrollment only increased 40%. Full-time instructors increased about 50% and managers increased about 50%.

  • Public universities and colleges have increased their tuition by as much as 30% for the 2010-2011 year.

  • Story Link

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