The student loan debt crisis is worsening in ways that go well beyond the size of the debt that has ballooned to more than $1.4 trillion, according to a new report from the Consumer Finance Protection Bureau (CFPB).
More than 40% of borrowers leave school owing $20,000 or more, double the percentage from 2002, and the share of borrowers owing $50,000 or more has more than tripled over the same time period, from 5% to 16%.
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Bernice Napach
Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.
