Educational Technology

September 6, 2019

Americans have $1.5 trillion in student loans. Is it worth it?

Filed under: Educational Technology — admin @ 12:35 am

KURT SNIBBE, Orange County Register

Other than mortgages, the highest amount of debt is in student loans. According to the Federal Reserve Bank in 2018, the average monthly payment of students loans was $200-$300. More than 44 million Americans owed about $1.5 trillion on student loans at the end of March 2019, more than twice what they owed a decade earlier. The increase has come as historically high shares of kids go to college and the cost of higher education increases. In 1985, annual tuition and fees for University of California schools were about $1,295 for residents, which is about $3,087 in 2019 dollars. In 2011, the average tuition and fees for UC students were $14,460.

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