$15 and Student Debt

by Preston Price

Burden of Student Debt

student-loansStudent loan debt in the U.S. is at a record high. The national average of student loan debt for the graduates of 2015 is more than $35,000 per student.1 In Oregon, the average loan debt per student is more than $25,500, ranking 30th among the 50 states.2 This is outrageous, and it’s only the tip of the iceberg. Some students, especially those who go to graduate school, have more debt than the national average. The national student debt totals over $1 trillion dollars,3 ranking as the second largest form of personal debt in the U.S. just behind home mortgage debt, and also just barely ranking behind the amount of debt the U.S. owes to China.4 Younger people are not the only ones with debt. According to CNN, $18 billion of the national loan debt is held by senior citizens.5 How are we expected to pay back such high loan debt?  [Read more…]