More Americans than ever are taking out student loans to invest in their futures. And that’s leading to…a huge amount of debt across the nation. $1.3 trillion in fact. This year alone, college grads who have their bachelor’s degrees face an average of $37,000 in student debt. And, as of July, over seven million borrowers are in default.
So how to solve it all? Let’s start at the beginning. Scroll through the visual timeline below to see the highlights and lowlights of the past 80 years in student loan history.
Rest assured, there is definitely a light at the end of the tunnel (er…timeline).