The feds recently released new data on student loan debt. The Department of Education press release claimed it showed ‘promising repayment trends.’
If these latest numbers are good news, I’d hate to see the bad.
As the Foundation for Economic Education (FEE) pointed out in its blog, total student loan debt increased at a healthy clip last year:
The total amount of outstanding direct student loans stood at $855 billion at the beginning of the first quarter of 2016, distributed among over 30 million recipients. (This total does not include loans still outstanding under the now-discontinued FFEL program, which guaranteed private-sector student loans.) The total direct loan amount outstanding is up roughly 15% over a year ago, doubtlessly the result of relentless tuition increases.’
This post was published at Schiffgold on MARCH 25, 2016.