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Staggering statistics out revealing how serious student loan debt crisis -- is.
Could have been the next bubble to burst student -- it is part of -- part of a larger bubble which is -- higher -- double.
In other words you have student debt that over a trillion and you have on the supply side you have university's going deep into debt.
If you look at the tech bubble and the real estate bubble this has all the same makings.
A credit scoring companies says the average student debt load has increased 58%.
To more than 27000.
What's happening now is that a lot of parents and grandparents of students are dipping into the retirement plans to help pay for the student's education so.
The ripple effects throughout the economy are substantially since that's.
Some twelve million Americans had to -- more open student loans on their credit report in 2005.
In 2012 that figure more than doubled to 26 million Americans.
Just stop with the debt.
And it delays that are earning power a lot of people have to defer then for example buying the first house -- in the first car.
Because they have this debt that perhaps if they.
Went to send internship prior and looked out what they wanted to do it didn't wanna do they might have been able to make its -- that would help them.
I didn't them in the future.
Many colleges and universities are offering online courses which are gaining credibility.
A cost saving option which can downsize your debt.
If you're a student at a four year institution.
Maybe take some online courses to be able to get out in the three year -- -- you've saved 25% of the total cost.
Student loan debt can hit your credit score two experts say it's crucial to pay on time if you can especially for recent grads -- have little credit history.
New York Brenda Buttner Fox News.
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