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Commonwealth Policy Center
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Cumulative college student loan is $1.6 trillion dollars. That’s trillion with a T. This student loan debt is having a ripple effect on the economy. College students with a lot of debt often spend a good chunk of their income just paying back their loan. Often, they can’t purchase a new home. Many will delay marriage and childbearing. One reason for such debt is that young kids don’t fully consider that they’ll have to pay their student loan back someday. Well, something is being done to address it. Last year, the Kentucky Council on Post-secondary education approved a resolution stating that “comprehensive, transparent information about college costs, financial aid, and student loans [should be] communicated regularly to students while in college [so they can]…. borrow responsibly, finish a degree, and transition to a meaningful career.