A Nation of Debt Slaves….

The balance of federal student loans has grown by more than 60 percent in the last five years.
Education Department data shows that payments are being made on just 38 percent of the balance of federal student loans, down from 46 percent five years ago. The balances are unpaid because the borrowers are still in school, have postponed payments or have stopped paying altogether.
Nearly one in 10 borrowers who started repayment in 2009 defaulted within two years, the latest data available “” about double the rate in 2005.
NEW YORK TIMES