Things You Should Know About Student Loan Debt | Infographic
Here is an infographic about student loan facts created by “Rebuild the Dream.” It is mind-boggling to see what students are up against in order to gain a higher education – a college diploma. Our education system has turned into a “damned if you do, and damned if you don’t” choice upon graduating from high school. You are damned if you go simply due to the overwhelming about of debt a student will incur upon graduating. But if a high school grad decides to opt out of a college education because of the cost, then they are forever bound to lower paying jobs and fewer – if any – benefits.
No college graduate is guaranteed a job upon graduation. Then to have such a large burden upon one’s shoulders…. This is not what America used to be about. College is now becoming a priviledge for the elite, and no longer a right for any person seeking a college degree.
 Student loan debt has passed one-trillion dollars – this is significantly higher than credit card debt.
 Student loan debt has nearly tripled in the past decade alone.
 In the past 20 years, tuition and fees have doubles, yet median household income has risen only 2.1%
NOTE: I am a Purdue University graduate and I graduated debt free because the cost for state residents was affordable. My tuition when I entered into my Freshman year as just under $800/semester, full time. LOL… sometimes the books and supplies would cost more than the tuition.
 Collectors can legally garnish up to 25% of your wages if you default.
NOTE: If a person defaults on their loan, it is most likely because they have had no choice but to take a lower-paying job most likely not even in the field they studied. Then for the collectors to come along and take one-quarter of your wages…. there’s not going to be much left over.
 Student loans is the only form of debt that cannot be discharged in bankruptcy in normal circumstance.
 On July 1, 2012, subsidized Stafford loan RATES WILL DOUBLE IF CONGRESS DOES NOT ACT!!!!
And here is one more little tidbit via a graphic:
Source of Infographic:
Sources for facts on the graphic:
 Consumer Financial Protection Bureau: “Too big to fail: Student debt hits a trillion.”
 Business Insider: “Student loan debt has shot up nearly 300% in the past decade.”
 Demos: “The Great Cost Shift: How higher education cuts undermine the middle class.”
 U.S. Department of Labor: Garnishment law.
 NOLO: Student Loan Debt in Bankruptcy
 NPR: “Students to Congress: Don’t let my interest rate double.”