Report Shows Student Debt Going Up
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JACKSON, Tenn. – Students taking out loans to go to college have one more thing to worry about after graduation. A recent study says students interest rates are on the rise. According to the Institute for College Access and Success, last year’s student loan debt was up five percent from the year before. This spike is grabbing the attention of college students who wonder if they will be able to repay their debt after graduation. “It’s a scary thought,” said Union University student, Victor Miller. “It’s a thought of will I be able to pay these back? Will I have to pick up more than one job in the future?” Recent government figures show nearly 10 percent of student loan borrowers defaulted within two years of loan repayment.
