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Education loan debt outpaced personal credit card debt for the very first time final year and it is expected to top a trillion bucks this season as more pupils go to university and an increasing share borrow funds to do this.
The rising loan bills nevertheless mean that many graduates will be paying them for a longer time while many economists say student debt should be seen in a more favorable light.
вЂњIn the coming years, many people it’s still paying down their figuratively speaking when it is time for his or her children to attend university,вЂќ said Mark Kantrowitz, the publisher of FinAid.org and Fastweb.com, who may have put together the estimates of pupil financial obligation, including federal and loans that are private. (more…)