The Student Debt Bubble Implosion

$1.68 trillion in student loan debt and a big portion is not being paid while COVID-19 is only making it worse

from My Budget 360

Higher education has always held a space as a beacon of hope for our country. The great equalizer and a platform for hard working Americans to retool and come out with the skills necessary for the jobs of tomorrow. One of the big challenges being faced in higher education of course is the incredibly high cost to go to college. Many private schools charge $50,000 to $70,000 a year to attend for a 4-year degree. And now with many universities being remote, people are realizing what they are getting for via Zoom (and it is certainly not worth it for basic courses). With college, we have the credential piece but also the experiential experience of being on-campus. Right now, the on-campus experience is largely absent. But you know what isn’t absent? The $1.68 trillion in student loan debt floating in the market.

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