Federal Reserve: U.S. Student Loan Debt Now $1,704,874,000,000

 By Michael W. Chapman | December 23, 2020 | 11:18am EST

 

 

 

(Getty Images)

According to the Federal Reserve, total student loan debt in the third quarter of 2020 was $1,704,874,000,000, which is double what it was in the third quarter of 2010 ($845,804,000,000) -- an increase of 102%.

“This is one of the top economic issues impacting people,” Aaron Smith, co-founder of Savi, a public benefit corporation focused on helping borrowers navigate student debt, told CNBC.

“Student loan debt is now bigger than credit card debt," he said. "It’s a huge challenge facing the country, and it’s something that really motivates people in terms of voting and in terms of getting the word out.”

https://www.cnsnews.com/blog/michael-w-chapman/federal-reserve-us-student-loan-debt-now-1704874000000