Student Loan Debt Increases

5 years 8 months 1 week ago Wednesday, April 04 2012 Apr 4, 2012 Wednesday, April 04, 2012 6:39:00 PM CDT April 04, 2012 in News
By: Jennessa Ewing

COLUMBIA - The price to pay for going to college is getting bigger each year making it hard to pay off student loan debt. 

According to a press release from Washington, the average student borrows $25,000 to go to school for four years. That is up 25 percent in the past 10 years. According to the University of Missouri, students leave school with an average of $22,000.

The total student loan debt reached a record $1 trillion in the US. The student loan debt surpasses the debt of credit cards and auto loans and is a huge issue in the next Presidential election. Ron Paul wants to get rid of the program while Gingrich believe it is a huge money scheme. Mitt Romey wants a whole renovation of the program.

MU student Rachel Jefferies said, "Rising tuition is blame. I have to think about how to pay to go to school or I may not be here next here."

With the economy slumping, students find it hard to get a job after college. "I have this debt but no way to pay it. No wonder I go into default," said Jefferies.

Taxpayers may be responsible for helping pay off the federal debt if a solution is not found. President Obama has proposed bills to help improve the system. He has tried to come up with ways to make repayment easier but nothing has been decided .

"The taxpayer resposibility is similar to welfare. I have no problem paying for someone's education as long as they do something with it," said Jefferies. 

With more students attending colleges and universities, the larger the debt grows. Tuition is skyrocketing past the rate of inflation.

In a government press release, four out of 10 students said they are late by 30 days or more paying their loans back after graduation. Students do not understand what they are getting themselves into when they borrow to go to school.

"It's a huge cycle. I cannot get a job without an education. But I can't get an education without a job," said Jefferies.

More discussion is expected to come in the upcoming months about how to manage the program.

 

More News

Grid
List
GIRARD, Kan. (AP) — Authorities are investigating the death of a man whose body was found under a rural southeast... More >>
33 minutes ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 9:43:00 AM CST December 15, 2017 in News
OLATHE, Kan. (AP) — A homeless man who told police he dismembered his wife in a Missouri hotel room then... More >>
36 minutes ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 9:40:17 AM CST December 15, 2017 in News
COLUMBIA - The trial date for a man charged in connection with a 2002 rape case has been set for... More >>
1 hour ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 8:33:00 AM CST December 15, 2017 in News
COLUMBIA - A Missouri basketball player and a former Mizzou student have teamed up to start a nonprofit aimed at... More >>
2 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 8:15:00 AM CST December 15, 2017 in News
COLUMBIA - The Columbia Chamber of Commerce is advocating for a full functioning Hyperloop to come to Missouri. After... More >>
6 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 3:32:00 AM CST December 15, 2017 in News
COLUMBIA – More than 2,300 students will receive degrees from The University of Missouri this weekend, which means heavy traffic... More >>
7 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 2:20:00 AM CST December 15, 2017 in News
ST. LOUIS (AP) — Kevin Roy scored twice and John Gibson made 29 saves as the Anaheim Ducks defeated the... More >>
11 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 10:20:39 PM CST December 14, 2017 in Sports
COLUMBIA - Iron Tiger Tattoo parlor in downtown Columbia mops its floors nearly three times a day. It didn’t use... More >>
12 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 9:56:00 PM CST December 14, 2017 in Target 8
CAMDENTON - The Missouri Department of Natural Resources recommended an old manufacturer in Camdenton as a Superfund site. Money... More >>
13 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 8:30:00 PM CST December 14, 2017 in News
VERSAILLES - Prosecutors filed charges against three employees of the Morgan County Jail on Monday, including a nurse accused of... More >>
14 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 7:50:00 PM CST December 14, 2017 in News
FULTON - People who are preparing to travel for the holidays are automatically at risk for robberies, road issues, and... More >>
14 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 7:25:00 PM CST December 14, 2017 in News
JEFFERSON CITY (AP) — The search for Missouri's next top education official has started. The State Board of Education... More >>
16 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 6:13:24 PM CST December 14, 2017 in News
MOBERLY - Fire and law enforcement officers from three counties received radiological training Thursday at the Moberly Fire Department. ... More >>
16 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 6:09:00 PM CST December 14, 2017 in News
COLUMBIA - Here is the latest on a threat to Moberly Area Community College's Columbia campus: 8:11 a.m. Friday... More >>
17 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 5:00:00 PM CST December 14, 2017 in News
UPDATE: Prosecutors have charged Monquail Williams with assault and domestic assault following Thursday's stabbings. Authorities took Williams into custody... More >>
17 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 4:47:00 PM CST December 14, 2017 in News
COLUMBIA - The City of Columbia has new aid in fighting snowy roads this with the help of its new... More >>
18 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 4:04:00 PM CST December 14, 2017 in News
AUDRAIN COUNTY – One Missouri farmer is righting his wrong following a pig waste leakage into a nearby creek. ... More >>
18 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 3:45:00 PM CST December 14, 2017 in News
JEFFERSON CITY - Authorities are investigating a Wednesday night shooting which injured a 19-year-old Jefferson City resident, police said in... More >>
18 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 3:37:00 PM CST December 14, 2017 in News
Columbia, MO
Broken Clouds 37°
11am 40°
12pm 42°
1pm 42°
2pm 43°

Select a station to view its upcoming schedule:

Coming Up Next

10:00a
Today with Kathie Lee & Hoda
11:00a
Rachael Ray
12:00p
KOMU 8 News @ Noon
10:00a
Jerry Springer
11:00a
Jerry Springer
12:00p
Jerry Springer

Tonight's Schedule

7:00p
Blindspot
8:00p
Dateline NBC
7:00p
The 86th Annual Hollywood Christmas Parade
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld