Student Loan

Student Loans and Bankruptcy - Observations 2

Submitted by asg on Mon, 09/05/2011 - 11:58am

A History of Student Loans

Student loans used to be provided by colleges directly. This change right after World War II. The federal government introduced the G.I. Bill, which promised a year of education for every 90 days of service and a 1 to 1 ratio between education and active-duty months up to a maximum of 48 months.

Andrew Gustafson's blog

Student Loans and Bankruptcy - Observations

Submitted by asg on Mon, 09/05/2011 - 11:19am

Student loans are ballooning. At four-year colleges and universities, more than two thirds of students have them. An average amount as of 2008 is over $23,000. Almost all students who go to private universities have student loans.

These statistics are made worse when you realize that they are just for federal student loan debt and do not count private student loans.