Student loan debt in America tops $1 trillion

Just this March, student debt in America topped $1 trillion, and since then has been rising nearly $3,000 every second.  These numbers coming from researchers at StartClass, who used Federal Reserve data from 2006 to 2015 to estimate the per-second growth rate in student loan balances.  A graphic was put together by the website “Graphiq” found here: http://bit.ly/1X1jyQz

This averages up to over $1 billion per week. The debt for students has nearly doubled since 2009.  47ABC caught up with a few students at Salisbury University who were shocked by the numbers.

Melissa Wainaina, a journalism major says that “there needs to be some type of balance between us paying for our education, I mean countries in Europe get free education” and Wainaina went on to say maybe America should consider following a similar model. 

Breanna Ulrich, who wants to go into the health and medical field says that she picked her major hoping to get hired immediately adding “I’m hoping to pay them off as soon as possible.”

The Obama administration has reportedly made changes to financial aid just this past December.