1. It’s Bigger than most countries—Currently more than 40 million Americans hold student loan debt which is greater than the entire population in more than 200 other countries.
2. Giant Corps can file for bankruptcy, but not Student Borrowers—Debts from gambling and other consumer debts can be erased, but not education debt which can even follow a borrower to the grave.
3. Seven million defaulted—Seven million (or about 2% of the US population) have had their credit trashed as a result of their student loans.
4. Average Student Debt Increases While Wages Decrease—Since 1999, student debt has increased more than 500 percent. Unfortunately, average salaries for young people have not.
5. Your student loans could make you unemployable—The Dept of Ed encourages schools to withhold transcripts of those who are behind on payments making it harder to get a higher-paying job to pay off student debt.