Today’s national student loan debt is well over $1
trillion. In 2012 seven
in ten college seniors graduated with loans and the average student walked the stage $29,400
deep in debt. With colleges hastily raising tuition fees while families’
incomes shrink, student loan debt is quickly rising. Between 2008 and 2012 student debt rose at a rate of 6
percent each year. We believe this
is a recipe for economic disaster. Students should no longer be forced to hold
the enormous financial burden that comes with a quality education—an education
that not only benefits their own lives, but society as a whole.