Students Amass Mountain Of Debt As Default Rates Continue To Climb

Ann McClure's picture

Three years after Angie Rider earned undergraduate and graduate degrees at Michigan State University, she has a teaching job that she loves — but also a student loan debt of $100,000.

Rider, 27, a fourth-grade Detroit Public Schools teacher, pays $1,000 a month on her debt, and sees no end in sight. That's why she has delayed buying a home, getting married and starting a family.

"I did the math and it's going to take (decades) to pay it off," said Rider. "It's just crazy. I just feel like it's never going to go away. I get so hopeless."

As spring commencement season begins later this month, more students are graduating with a debt load that's doubled in comparison to a decade ago, as unemployment remains high.

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