Report: US student loan debt now stands at $1.4 trillion

Posted: Updated:
NEW BRUNSWICK -

It is not getting any easier for students to pay for college.

New data from Bloomberg finds that student loan debt across the United States now sits at $1.4 trillion.

News 12 New Jersey spoke with some students at Rutgers University who say that they struggle with student loans. According to the Institute for College Access and Success, 59 percent of students at the Rutgers New Brunswick campus graduated with debt in 2017.

“I think it’s really sad and I’m not sure what we can do to combat that,” says Rutgers English major Sierra Johnson. “Our tuition is raised every year.”

Johnson says that she will graduate with several thousand dollars in debt depending how much help she gets from family.

"I will definitely be struggling that's for sure,” she says. “I don't want to move back home. I'll do my best to stay on my own.”

Some of the Rutgers students say that they are borrowing about $20,000 per year.

"I'm going for education so I anticipate having to pay it off for a long time,” says student Kate Staudt. “I won't be making that much money as a teacher."

The Department of Education reports that 2.7 million graduates nationwide owe more than $100,000.

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."