THE ISSUE: More Americans are getting buried by student debt causing delays in home ownership, limiting how much people can save and leaving taxpayers at risk as many loans go unpaid. The statistics look daunting.
Student debt now totals around $1.26 trillion. This amounts to a stunning 350 percent increase since 2005, according to the New York Federal Reserve. Not everyone sees that surge as troubling. President Barack Obama’s Council of Economic Advisers issued a report this year saying that the debt is beneficial because college graduates earn more money than people with only high school degrees.
But college drop-outs who borrow are increasingly less likely to r…
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