As of today, October 30, 2015, the amount of student loan debt outstanding in America is approximately $1,313,442,000,000, or one trillion, three hundred thirteen billion, four hundred forty-two million dollars. This balance has doubled since the beginning of 2009, and is growing about $4,000 a second, $345 million or so each day and more than $120 billion per year. Until the year 2008, student loan balances were smaller than either credit card loans, auto loans, or home equity loans. Today, student loans have surpassed each of these other types of debt.
David A. Pace, CFA
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