Americans should be worried about the student loan problem in this country. Last year the federal and private student loan far exceeded the country's credit card debt by a wide margin, and consumer credit experts and analysts believe that in 2012 the student loan debt will exceed $1 trillion.
It's no secret that federal and state programs and grants for education are being cut, and there are several universities that are losing funding of various forms. That means that more students will be forced to go into debt, which will likely get them into some trouble once they leave their formal education to join the workforce. With the unemployment rate teetering at around 10% it should be no surprise that America's future could be possibly in trouble with debt.
Most experts agree that waiting until senior year to figure out how to pay for college is too late. Financial aid professionals report that the average loan debt on average per student is going to be around $27k. continue reading
