The total student debt in America is now at a staggering one trillion dollars—let that sink in for a moment. If you put $1 trillion into a spherical cashteroid, it would be a 240 meter moneyball (thanks to Rhett Allain @rjallain). To spend this much money in a year, you’d have to spend $189,393,939 every single day. One trillion dollars can buy plenty of massive things. The U.S. highway interstate system cost $466 billion. $1 trillion would cover the cost of the entire interstate system—more than twice over! With this type of money, the entire government healthcare budget could be funded, with $40 billion still left over. You could even give every currently enrolled college student $45,800. Just imagine how many 12-packs would be purchased!
Thirty-seven million people in the U.S. have student loans, and the average student loan debt is $24,301. Of those who graduated early this year in 2013, the average loan debt is over $35,000. The trend is steady and consistent—education is getting more and more expensive. Student loan debt in the U.S. even exceeds overall credit card debt. The national debt is 16.7 trillion—the student loan debt is catching up!
Do you have student loan debt? If so, how much? Please share in the comments, and be sure to check out the infographic below presented by CheapestColleges.org to learn more about the student debt crisis in America.
Source: Student Debt: A Million Millions
Read more: The Unspoken Crisis In America