Student Loan Debt Continues Its Upward Climb (Despite Drop In Enrollment)

Read more on this subject: Education: Colleges and Universities
News Story Source: https://www.zerohedge.com, Via SchiffGold.com
In Q3, student loan balances rose by $23 billion from the second quarter, according to the latest Federal Reserve data.

Forty-five million Americans now owe $1.7 trillion in student loan debt. Total outstanding student loan balances have surged by $54 billion year-on-year.

Enrollment in colleges and universities dropped by over 231,000 students to a total of 17.97 million between 2018 and 2019. The drop in enrollment between those two years continued a trend we've seen since university enrollment peaked in 2011. That year, 20.14 million students were enrolled in colleges and universities. Since then, enrollment has dropped by 10.8%.

One of the reasons student loan debt continues to increase despite falling college enrollment is the glut of student loan money pushed up the cost of a college education. The federal government pushed the widespread availability of student loans. It was supposed to make it possible for everybody to go to college. But there was an unintende
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